User Account

All Pages

Make the journal entries that would appear in txa ltd

Assignment Help Financial Accounting
Reference no: EM132518349

TXA Ltd acquired a machine from Blue Ltd for the following consideration:

Cash $70, 000

  • Land in the books of TXA Ltd the land is recorded at its cost of $650,000. It has a fair value of $450,000. TXA Ltd also agrees to assume the liability of the Blue Ltd bank loan of $89,000 as part of the machine acquisition.

Required:

Question (a) Calculate the acquisition cost of the machine.

Question (b) Provide the journal entries that would appear in TXA Ltd.'s books to account for the acquisition of the Machine.

Reference no: EM132518349

Questions Cloud

What is the equity component of the original issuance : What is the equity component of the original issuance of the convertible bonds? An entity issued 5,000 convertible bonds with P1,000 face amount per bond.
Increase in the probability of detection : If a particular offense is detected a criminal will be fined. Suppose that research shows that a 1% increase in the fine has a smaller deterrent effect
Computerized operating systems : Computerized Operating Systems (OS) are almost everywhere. We encounter them when we use out laptop or desktop computer.
What is the increase in equality as result of bond issuance : An entity issued 5,000 of 8% 10-year P1,000 face amount bonds, What is the increase in equality as a result of the bond issuance?
Make the journal entries that would appear in txa ltd : TXA Ltd acquired a machine from Blue Ltd, Provide the journal entries that would appear in TXA Ltd.'s books to account for the acquisition of the Machine.
Total cost of providing a services : The total cost of providing a services is 3x2 - 12x + 30, where x is the number of people served each week (in some consistent units).
Create a program for a pizza shop : Create a program for a pizza shop - however, as this is a comparative languages course, you will be creating the same application in the following programming
Determine the price elasticity of supply for a good : A. Explain the factors that determine whether the price elasticity of supply for a good is likely to be relatively elastic or relatively inelastic?
What is the carrying amount of bonds payable on december : On January 1, 2017 an entity issued 10 year bond with face, What is the carrying amount of the bonds payable on December 31, 2017?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd