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Question - An item of plant and equipment was purchased on 1 April 20X1 for $100,000. At the date of acquisition its expected useful economic life was ten years. Depreciation was provided on a straight line basis, with no residual value. On 1 April 20X3, the asset was revalued to $95,000. On 1 April 20X4, the useful life of the asset was reviewed and the remaining useful economic life was reduced to five years, a total useful life of eight years. Calculate the carrying amount at 31 March 20X5, as required by IAS 16 Property, Plant and Equipment.
Prepare April and May 2008 income Statements for Nascar Motor under (a) Variable Costing and (b) Absorption costing
1. According to the guerrilla view of competitive advantage, the state of an organization's competitive advantage is:
Assuming that depreciation is to be computed on the straight-line basis, compute the annual depreciation on the new equipment
Let's discuss how you see the future of accounting. what changes should be made, why and will they actually be made ever? As we know accounting rules are slow
Required - For each year, calculate the following ratios (1) Gross margin as a percentage of sales and (2) Inventory turnover
What were the important milestones in the development of the business?What are the land, equipment, human and financial resources?
Damons uses the allowance method to account for uncollectible receivables. At the beginning of the year, allowance for doubtful accounts had a debit balance of $100. During the year you recorded bad debt expense of $1,800 and wrote off bad receiva..
what is the difference between financial statements prepared from the expanded accounting equation and those prepared
Bragg issued $1,500,000 of 10% convertible bonds at face value during 2012. REQUIRED - Compute the basic and diluted earning per share for 2013
Determine Marston Corporation's breakeven point in sales dollars for the fiscal year ending June 30, 2015, if the company hires its own sales force
on january 1 2012 pierson corporation exchanged 1710000 cash for 90 percent of the outstanding voting stock of steele
Create a tax plan for the future redemption of the client's stock owned in the construction company that will not be taxed according to Section 301 of the IRC.
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