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!
Question
On 1 July 2009 Club Dean Ltd purchased land at a cost of $4,750,000. Club Dean Ltd has made the following estimates of the value of the land:
Value of land at
30 June 2010
30 June 2011
30 June 2012
Net Selling Price
4,275,000
4,370,000
Market Value
4,512,500
4,607,500
Value in Use
4,987,000
4,560,000
Required
1. Determine the recoverable amount of the land for each reporting date and identify the relevant AASB (Australian Accounting Standards) that applies.
2. If Club Dean Ltd uses the cost model, calculate the carrying amount of the land. Prepare the journal entries necessary to effect any adjustments required by the accounting standards for each year.
3. If Club Dean Ltd revalues its land at the end of each year, calculate the carrying amount of the land. Prepare the journal entries necessary to effect any adjustments required by accounting standards for each year.
breakeven analysis and target profit taxes - patterson parkas companys sales revenue is 30 per unit variable costs are
what are differences between dependent and independent samples? provide examples.what are implications for determining
the mcgraw company has the following information availablemonth budgeted salesjune 68000july 72000august 74000september
Race decided to use the equity method to account for this investment. What was the non-controlling interest's share of consolidated net income?
describe the most significant leadership challenges facing organizations today. are you optimistic that these
Both figures occur evenly throughout the year. On a December 31, 2004 consolidated income statement, what should be reported as the noncontrolling interest in the subsidiary's net income and as preacquisition income?
Allowance for Doubtful Accounts has an unadjusted balance of $1,100 at the end of the year, and an analysis of customer's accounts indicates doubtful accounts of $12,900. Which of the following records the proper provision for doubtful accounts?
Identify two major control weaknesses in the Family Support Center's cash receipts procedures. For each weakness you identify, suggest a method to correct that weakness. Your solution must be specific-identify which specific employees should do..
Sheldon used 25 percent more direct labor hours than the standard allowed. What was the direct labor flexible budget variance for the month? A. B. C. D. E. $20,000 unfavorable.
Prepare Nguyen Corporation's income statement for 2011, including earnings per share, assuming a weighted average of 100,000 shares of common stock outstanding for 2011.
Suppose a US corporation (tax rate 34%) with $2,500,000 of domestic income sets up a branch in Japan earning $800,000, where the tax rate is 50%. Also, assume I earned another $100,000 in interest revenue in a country with a 10% income tax rate.....
What is the predetermined overhead application rate for the maintenance department? What is the additional cost to the maintenance department of providing another hour of maintenance?
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