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Question - R Ltd is the company that started operating on the 1st January 2018. At its inception, the company bought a delivery vehicle with the cost of R200 000 and it is depreciated at 20% p.a. using a straight-line method and the residual value is R 10 000. On the 30 June 2019, the company bought an equipment to the value of R 25 000 and it is depreciated at 10% p.a. using diminishing balance method to nil residual value.
Required - Calculate the amount to be disclosed in the Property, Plant and Equipment in the statement of Financial Position of R Ltd on 31 December 2019.
Evaluate the challenges for U.S. public companies to fully adopt IFRS and propose solutions to these challenges. Provide support for your recommendations.
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For the year, actual manufacturing overhead was $384,000 and total direct labor cost was $831,000. What was the over- or underapplied manufacturing overhead
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