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!
On 1 July 2017, CB Contractors Ltd paid $100,000 cash to acquire an earth-moving machine. On this date it was estimated that the machine had a useful life of ten years and a residual value of $10,000. CB Contractors Ltd uses the revaluation model to measure items of property, plant and equipment and the straight-line method of depreciation. CB Contractors Ltd has a 30 June reporting date.
An independent valuer provided the following fair values for the machine:
Reporting date Fair value
30 June 2018 $73,000
30 June 2019 82,000
30 June 2020 80,000
On 31 December 2020, the machine was sold for $90,000 cash.
Required
Question 1: Prepare the journal entries to account for the events and transactions in relation to the machine between 1 July 2017 and 31 December 2020.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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