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Question - On 1 July 2019 Manila Ltd sold an item of plant to Tokyo Ltd for $600,000 when its carrying value in Manila Ltd book was $800000 (costs $1200,000, accumulated depreciation $400,000). This plant has a remaining useful life of five (5) years form the date of sale. The group measures its property plants and equipment using a costs model. Tax rate is 30 percent.
Required -
a) Pass the necessary entry in 30 June 2020 to eliminate the intra-group transfer of equipment.
b) How will the profit or loss arising out of the intra-group transfer of depreciable asset be recognised? Explain with an example.
How to conduct a profit sensitivity analysis? Explain in detail with suitable example.What data do need to conduct a profit sensitivity analysis
Prepare a schedule showing the Dutch subsidiary's income statement for 2011 and 2012 in euros and in dollars, using both the current rate and temporal methods. Compute the percentage change in income in each case.
The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be
The period with 3,500 units that were 40 percent complete as to both material and conversion costs. Beginning Work in Process Inventory units were
The company purchased 180,000 pounds of material and employed 42,400 hours of direct labor. Compute the direct material price and efficiency variances
question goldman corporation purchased a machine on 1st june 2010 for 55332 f.o.b. the place of manufacture. freight to
How much will internal failure costs change, assuming 800,000 units of materials are received and that the new receiving method reduces the amount
Question - James makes $50,595 per year, and wants to give 12.3% to his local charity. How much money should he give
There are several inventory costing systems that companies can choose to help them when determining cost of goods sold and ending inventories, and each has its own advantages and disadvantages.
The Hanson Company manufactures two products, Zeta and Beta. What is the total contribution from the optimal product mix?
Condelezza Co. manufactures two products, A and B, in two production departments, Assembly and Finishing. Condelezza Co. expects to produce 10,000 units of Product A and 20,000 units of Product B in the coming year.
Carson, Inc., uses a learning curve of 80 percent for all new products it develops. A trial run of 500 units of a new product shows total labor-related costs (direct, indirect labor, and fringe benefits) of $120,000.
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