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!
Question - Crafty kevin purchased a new truck for his gardening and landscaping business on 1 January 2019 at a cost $ 68,200 GST inclusive . The estimated residual value is $7,000. The truck has a useful life of 5 years and the business expects to use it for 160,000 Kilometers. it was used for 22,000 Kilometers in year 1 ; 30,400 Kilometers in year 2 ; 28,000 Kilometers in year 3; 34,500 kilometers in year 4; 32,600 Kilometers in year 5. The end of financial year is 30 June.
Required -
(a) Calculate depreciation using the straight- line method for 2019 and 2020?
(b) Produce a depreciation schedule for the first 3 years ending 30 June using the diminishing balance depreciation method. Assume the depreciation rate to be double the straight- line rate.
(c) Calculate depreciation using the units-of-production method ( based on Kilometers) for 2019 and 2020?
The possible selling prices and variable costs and their respective associated probabilities are as follows:
Based on the information given here, determine the firm's current ratio and quick ratio at the end of 1997 and 1996 and in which year do you consider the firm to be in better financial condition? Explain
If the current interest rate on the bond is 5 percent and the bonds were not callable, at what price would each bond sell
Carriveau Corporation's most recent balance sheet appears below: Carriveau Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $42 $31 Accounts receivable 40 27 Inventory 52 67 Tota..
Shin Company has a loan agreement that provides it with cash today, and the company must pay $25,000 4 years from today. Shin agrees to a 6% interest rate. The present value factor for 4 periods, 6% is 0.7921. What is the amount of cash that Shin..
What amount should Lawson report as prepaid insurance in its balance sheet dated Dec 31, 2012 and what amount should Lower Corp. report as net income (loss) for the month of January?
What does an unfavourable direct materials price variance indicate? The actual cost of materials purchased was less than the standard cost of materials purchase
Metro Bus Company had $400,000 of revenue and $401,000 of expense (including depreciation) for the current year resulting in a $1,000 net loss. All revenues were received in cash. What is the difference between cash flow and net income? Evaluate mana..
Prepare comparative condensed income statements for 2012 under FIFO and LIFO and how much more cash will be available for management under LIFO than under FIFO? Why?
Compute depreciation of the building at the end of year one, using the straight-line method. Assume an estimated useful life of 10 years
How determine the price of stock of EAST AFRICA HOLDINGS. Use Cost of stock from question number one that resulted optimum capital structure
Prepare the general journal entry to record on the June 15,2017 withdrawal of Hopeful from the partnership.Hopeful,. wordsmith and zoe are partners
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