Find rate of annual depreciation using diminishing balance

Assignment Help Accounting Basics

Reference no: EM13259277

X Ltd. Of Kaula Lumpur consigned 100 cases of goods to Mr. Y in penang. The consignment account appeared in the ledger ofX Ltd. Was shown below

	Cases	$		Cases	$
Goods on consignment	100	7,000	Goods on consignment
Bank- carriage		400	- Return	5	350
Bank- insurance		200	Consignee -sale	60	10,000
Bill receivable			Stock c/d	?	?
-Discount charge		25
Consignee
-warehouse charge		190
-selling expenses		120
-commission		500
Consignee
-bad debts		65

What is the value of unsold stock?

The total cost of a fleet of lorries is $ 180,00 and theresidual value after five years is $20,00. Using thediminishing balance method find the rate of annualdepreciation?

A company has opening balance of $ 10, 00,000 in its fixed asstsaccount. Accumulated depreciation was $6, 00,000. There was anaddition of fixed assets of $5, 00,000 at the beginning of yearwhile there was no sale of fixed asset. Prepare fixed assetsschedule if the depreciation is charged for the year @15% onoriginal cost

Reference no: EM13259277

Questions Cloud

Determine what is the resistance of resistor 3 : The battery voltage is 20V Resistor3 a resistance of 20ohms. Resistor1 has a resistance of 30. Current flow is 250mA through the circuit. What is the resistance of resistor 3

What is the political organization : What is the "political organization"? How is it structured and defined? What are the main ethical problems that arise in this model?

Explain the hardball techniques discussed in portion : Explain the hardball techniques discussed in portion of the book. Give examples of these techniques

What is the required value of the constant inductance : An amateur radio operator wishes to build a receiver that can tune a range from 13.8 MHz to 15.1MHz, What is the required value of the constant inductance

Find rate of annual depreciation using diminishing balance : The total cost of a fleet of lorries is $ 180,00 and the residual value after five years is $20,00. Using the diminishing balance method find the rate of annual depreciation?

What is the total carrying cost : Should GHI change its policy and increase or decrease its order size? What is it in your calculations that would cause you to say this?

Explain how much heat is liberated in the reaction : how much heat is liberated in the reaction of 5.0g of Al and 20.0g of Fe2O3 producing extensively Fe and Al2O3

Problem related to prepaid insurance : The prepaid insurance involves a 3-year fire insurancepolicy that was purchased (and went into effect) on January 1,2007. By the end of the year, apportion of the insurance policy had been used up.

Compute the standard free energy change at 25c : For the reaction 3 C2H2(g) C6H6(l) at 25C, the standard enthalpy change is -631 kJ and the standard entropy change is -430 J/K. Calculate the standard free energy change at 25C.

User Account

All Pages