User Account

All Pages

Pass the necessary entries on June

Assignment Help Accounting Basics
Reference no: EM132681762

Question - On 1 July 2016 Liala Ltd sold an item of plant to Jordan Ltd for $450000 when its' carrying value in Liala Ltd book was $600000 (costs $900000, accumulated depreciation $300000). 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 - Pass the necessary entries on 30 June 2017 and 30 June 2018 to eliminate the intra-group transfer of equipment.

Reference no: EM132681762

Questions Cloud

Develop idea for prospective small business : Develop an idea for a prospective small business, and select a name for the company.
Explain little law in your own words : Explain Little's Law in your own words. How can it be used, and what are its limitations?
Prepare general journal entries for the balance : Prepare General journal entries for the following balance day adjustments - Rent received for period 1/4/2018 to 31/07/2018 $44,000
Create solutions to address the healthcare : Berkshire Hathaway, and JPMorgan Chase announced their partnership to create solutions to address the healthcare needs of their US employees.
Pass the necessary entries on June : The group measures its property plants and equipment using a costs model. Tax rate is 30 percent. Pass the necessary entries on June
Free-range wireless charger : What are you bringing to the market? -- describe the product. How will you bring it to market?
Discuss whether the entries suggested by Li Chen are correct : Discuss whether the entries suggested by Li Chen are correct, explaining on a line-by-line basis the correct adjustment entry
Make the journal entries on the books of Jang Corporation : Assuming that it is now 2018, make the journal entries (other than closing entries) on the books of Jang Corporation during 2016 and 2017
Create journal entries to record the transactions : Jan. 8 Issued 15,000 shares of previously unissued common stock for $21 cash per share. Create journal entries to record the transactions

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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