ACCT1501 Accounting and Financial Management Assignment

Assignment Help Accounting Basics
Reference no: EM132452844

ACCT1501 Accounting and Financial Management Assignment - University of New South Wales, Australia

Problem - Peach Ltd purchased a machine for $20,000 on 1 January 2016. Peach depreciated it using straight-line depreciation, assuming that it would have a useful life of three years and $5,000 salvage value. However, on 31 December 2017 the machine was sold for $8,000 cash. What was the gain or loss on sale?

a) $8,000 gain

b) 3,000 gain

c) $10,000 loss

d) $2,000 loss

Reference no: EM132452844

Questions Cloud

Calculate the weighted average cost of capital : If the firm's bonds are not frequently traded how would you go about determining a cost of debt for this company?Calculate the weighted average cost of capital
Perform a common out door household chore : Write instructions and include visuals explaining how to perform a common out door household chore.
Did you find the love story of ali and nino convincing : Did you find the love story of Ali and Nino convincing? Do you believe that such an atmosphere of peacefulness and tolerance could have existed
Why does the earth surface constantly undergo change : Why does the Earth's surface constantly undergo change? Describe how meanders form and evolve. What is the process of desertification and what causes it?
ACCT1501 Accounting and Financial Management Assignment : ACCT1501 Accounting and Financial Management Assignment Help and Solution, University of New South Wales, Australia. What was the gain or loss on sale
What do you believe to be the case : What do you believe to be the case? Can ethics be taught?
Describe two controllable financial risks for health : Why is financial risk management important to health care organizations? Describe two controllable financial risks for health care service managers.
What is the net investment for the project : What is the net investment/initial outlay for the project?ALMAND Corporation is considering an expansion project. To date they have spent $75,000 investigating
Research the rich geological history : Research the rich Geological History of how Appalachian Mountains were built and eroded away over the past ˜500 million year

Reviews

Write a Review

Accounting Basics Questions & Answers

  Corporation is issuing 153400 of 8 percent five year bonds

corporation is issuing 153400 of 8 percent five year bonds when potential bond investors want a return of 10 percent.

  How is anticipated to benefit the organization

Create at least 3 measurable project objectives based on your analyses. Determine timelines and responsibilities for each objective (e.g. with a RACI chart)

  Cash for financial reporting purposes

1) Which of the following is NOT considered cash for financial reporting purposes?

  Prime motivation behind the decisions

What was the prime motivation behind the decisions of Arthur Andersen's audit partners on the Enron, WorldCom, Waste Management, and Sunbeam audits: the public interest or something else? Cite examples that reveal this motivation.

  How fast can sales grow

Current sales are $840,000. How fast can sales grow before any new fixed assets are needed

  Actual quantity 840 kg standard price 48 per kg standard

actual quantity 840 kg standard price 48 per kg standard quantity requirement of material 800 kg actual price 52 per kg

  Lopez company began operations on january 1 2010 during its

lopez company began operations on january 1 2010. during its first two years the company completed a number of

  What amount of deferred property tax revenues be reported

The following information relates to the first three questions in the list that follows. What amount of deferred property tax revenues should be reported

  Kahn company is a merchandiser that reported net income of

kahn company is a merchandiser that reported net income of 90000. additional information follows decrease in accounts

  Calculate bra basic and diluted earnings per share figures

Calculate Bra basic and diluted earnings per share figures for the year ended 31 March 2015.

  Accounting principles and prepare a short memo

Directions research the related generally accepted accounting principles and prepare a short memo to the president that summarizes how to report the $40,000 loss on Klote's 2010 income statement. Cite your reference and applicable paragraph number..

  Discuss penalty for early withdrawal of funds

He wants to know if he can withdraw funds from both accounts without having to pay the 10% penalty for early withdrawal of funds

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd