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 2015, Zetland Ltd paid $48,000 cash to acquire a motor vehicle. On this date it was estimated that the motor vehicle had a useful life of five years and a residual value of $3,000. Zetland Ltd uses the revaluation model to measure items of property, plant and equipment and the straight-line method of depreciation. Zetland Ltd has a 30 June reporting date.
An independent valuer provided the following fair values for the motor vehicle:
Reporting date Fair value
30 June 2016 $39,000
30 June 2017 24,000
30 June 2018 27,000
On 31 December 2018, the motor vehicle was sold for $20,000 cash.
Required
Question 1: Prepare the journal entries to account for the events and transactions in relation to the motor vehicle between 1 July 2015 and 31 December 2018. For any year/s that a revaluation journal entry is not required, you should explain this and provide a supporting calculation.
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