Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
ABC Ltd is in the business of providing management consultation services in Parnell area. ABC bought a property on 1 July 2012 for a cost of $1,500,000. The property consists of land and building. The value of the land is $800,000 at time of purchase. The property is used as offices and seminar rooms. ABC renovates the property in order to make it suitable for its operation. The cost of renovation is $80,000. The renovation is completed in 2 months after the purchase. ABC has a balance date of 30 June.
1. Determine the cost of the property to be recorded in the accounts.
2. Assume ABC depreciates the building part of the property on a straight-line basis. Depreciation is $40,000 each year for the building. The company depreciates its PPE to the nearest month. On 1 July 2013, the property is revalued to $1,700,000, of which the land portion appreciated by $100,000. Prepare journal entries to reflect the revaluation for both land and building of the property.
the best means of verification of cash inventory office equipment and nearly all other assets in a physical count of
pillar steel co. which began operations on january 4 2011 had the following subsequent transactions and events in its
On February 1, 2011, Albert sold $40,000 of the bonds at 103 plus accrued interest. The journal entry Albert will record on April 1, 2011 for the purchase of the bonds will include:
In 2012, Gail had a §179 deduction carryover of $30,000. In 2013, she elected §179 for an asset acquired at a cost of $115,000. Gail's §179 business income limitation for 2013 is $140,000. Determine Gail's §179 deduction for 2013.
If accounting were not regulated, we would not be facing the difficult problems that have arisen as a result of Enron and other corporate auditing failures. Do you agree with this statement?
Retrieve a report in the organization that allocates common costs to a division, product, or service. Recast that report with unallocated costs and comment on the usefulness of that revised report.
Which of the following is not a required segment reporting disclosure according to International Financial Reporting Standards?
Use the systems development life cycle to accomplish the task.
Attribute Sampling
Compute equivalent units of production for materials and for conversion costs and determine the unit costs of production and show the assignment of costs to units transferred out and in process.
which financial statement is used to determine cash generated from operations?a. income statementb. statement of
evergreen corporation a calendar year accrual basis taxpayer requires a new piece of equipment for use in its
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd