User Account

All Pages

Calculate the cost of the new display cabinet

Assignment Help Accounting Basics
Reference no: EM133104155

Question 1 - Floral Pte Ltd is a flower retailer. On 31 December 2020, Floral sold its delivery van for $40,000. The net book value of the delivery van is $38,000 before the sale.

Explain the impact of the sale of the delivery van on the Statement of Comprehensive Income.

Show your workings clearly to support your explanation.

Question 2 - On 20 July 2021,  Scantick bought a new display cabinet to replace an existing one which was bought 2 years ago at $8,000. It paid $5,000 for the new cabinet after trading in the old one. The trade-in resulted in a loss of $2,000.

Both cabinets have an estimated useful life of 6 years and residual value of $800. Scantick uses straight-line method to depreciate its assets.

Calculate the cost of the new display cabinet. Show your workings clearly.

Reference no: EM133104155

Questions Cloud

Briefly explain how each technique is used : Briefly explain how each technique is used in providing adapt comments and Briefly explain how each method of researching ideas
New entrant in order to build : Will the competitors try to buy the new entrant in order to build it up or to dissapear it? Or will they try to imitate KidZania?
Concept of yield percent : How is the abbreviation (AP) as purchased related to the abbreviation (EP) edible portion, and to the concept of Yield percent. Why is differentiating between t
Define fair trade on your own terms : Define fair trade on your own terms. In what ways should consumers consider fair trade issues when making purchases and investments?
Calculate the cost of the new display cabinet : Both cabinets have an estimated useful life of 6 years and residual value of $800. Calculate the cost of the new display cabinet
Product conforms to specific standards : Explain how Jidoka can help ensure that a product conforms to specific standards.
Knowledge of stereotyping and social identity : Read Case Study Hy Dairies, Inc. (Chapter 3, pp. 109-110) in your textbook (and a minimum of six [6] peer-reviewed sources plus the textbook) and answer the fol
How does an organization vision : How does an organization's vision, mission, and core values help determine its culture?
Calculate the net book value of the new machine : The scrap value of both the new and old machine is $5,000. Calculate the net book value of the new machine after one year

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