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Question - On the 1 July 2017, Cadbury Chocolates Ltd purchased some chocolate manufacturing equipment at a cost of $1,000,000 cash. They immediately spent an additional $100,000 installing the equipment before they could use it. The equipment had a useful life of 10 years and an estimated residual value of $100,000. The company uses the straight-line depreciation method.
On the 1 July 2018, the equipment broke down and the company spent $40,000 returning it to working order.
The company decided on 1 July 2019 to modify the equipment to enable it to produce at 5 times the previous volume of chocolate. The modifications cost $400,000 cash and did not change the useful life of the equipment.
Required - Make all appropriate journal entries for the financial years ending June 2018, 2019 and 2020. Show all calculations. Justify your answers and assumptions.
What is the bond's capital gain or loss yield? How would the price of the bond be affected by a change in the going market interestrate?
Compute the book value of the building at the end of the second year. (Omit the "$" sign in your response.)
Briefly distinguish between financial and managerial accounting as they relate to (1) the primary users, (2) the type and frequency of reports
A person was considering buying a house priced at $300,000. A mortgage company claimed the interest rate for the 20 year loan is What would the monthly payment, if the person decided to borrow 90% of the cost of the house and 100% of the processing f..
If net sales total $50,000, beginning accounts receivable was $10,000, and ending accounts receivable is 16,000, what are the days’ sales collected?
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What 3-month forward exchange rate (expressed as C$1 = ) would be consistent with interest rate parity? Use SIX decimal places.
Angela owes ?$12,386.74. She has made arrangements to repay. How many months will it take her to repay the debt and? interest? Assume? end-of-month payments.
Journalize the transactions in ACCURAL and CASH basis. Richard Brandt graduated from York University with his BAS although he spent more time in the gym
TJmax is expected to pay a dividend of $2.50 a year from today. Stockholders require 11% per year. What is the present value of the stock?
Cash inflows of $26,368.00 at the end of each year for the next 12.0 years. The corporation has a WACC of 9.27%. Calculate the NPV for project Z.
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2016, the end of the company’s fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,155; Prepare a multiple-step income statement ..
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