User Account

All Pages

Calculate the balance of scooby low value pool

Assignment Help Accounting Basics
Reference no: EM133038425

Question - Scooby Montana is employed as a salesperson. Scooby uses a low value pool which, at 30 June 2019, had a balance $1,850.

On 1 September 2019, Scooby bought a mobile phone for $580 which he used entirely for work. The phone has an effective life of 3 years.

On 31 January 2020, Scooby purchased a photocopier for $800. He estimates that the copier is used 80% for work and has a useful life of 6 years.

Required -

1. Calculate the balance of Scooby's low value pool as at 30 June 2020.

2. Calculate the decline in value deduction available for the 2019/20 tax year.

Reference no: EM133038425

Questions Cloud

Prepare Bank Reconciliation Statement as at April : Prepare Bank Reconciliation Statement as at 30 April 2021 to reconcile the adjusted Cash Book balance with the Bank Statement balance
Applications on a computing device : What is the software that allows a user to run other applications on a computing device?
What is active listening : What is active listening and how can it promote empowerment, trust and goodwill to promote helath lifestyle parctices?
Why change programs often fail : Make a short essay which explaining what a 'Change Management' is and why change programs often fail and therefore, suggest which ways to manage them successful
Calculate the balance of scooby low value pool : On 1 September 2019, Scooby bought a mobile phone for $580 which he used entirely for work. Calculate the balance of Scooby's low value pool as at 30 June 2020
Procure-to-pay process at buildit : BuildIT is a construction company specialized in public works (roads, bridges, pipelines, tunnels, railroads, etc.). Within BuildIT, it often happens that engin
Describe innovations in location-based social media : Please help with this homework assignment. Please be elaborate and original. Copy and paste will not be accepted. References needed.
Calculate the margin and asset turnover for each channels : Each distribution channel is evaluated as an investment center. Calculate the margin and asset turnover for each of the three distribution channels
Emerging strategic technologies : 1) How can the consumer products industry knowledge you've gained so far help with your current work challenges?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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