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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 from the date of sale. The group measures its property plants and equipment using a costs model. The tax rate is 30 per cent
Required - Pass the necessary entry in 30 June 2020 to eliminate the intra-group transfer of equipment?
Rosa puts $4,000 into her flexible benefits account, and her actual expenses are $5,000. What is her cost of underestimating the expenses
How to record the acceptance of an industrial partner to the partnership? What The interest on the money borrowed by the partner from the partnership is
Pareto chart - Silicon Solutions Inc. manufactures RAM memory chips for personal computers. Prepare a Pareto chart of these activities
PFRS 9, par. 3.2.3 provides that an entity shall derecognize a financial asset when, and only when? The contractual rights to the cash flows
Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Compute the manufacturing overhead rate for the year
Explain" fair game". Explain systematic risk and unsystematic risk by suing examples. Explain "information asymmetry", and" adverse selection"
Find How much will you need to invest today? If you were a finance major and learned how to earn a 14% annual return, how much would you have to invest today?
Pearl Products Limited of Sarnia, Ontario, manufactures & distributes toys throughout central Canada. Prepare production budget for Supermix for July to October
What is the balance of accumulated depreciation on 31 December 2020? What is the profit or loss on disposal, if the machine is sold for $13,000 on December
the following information was taken from the accounting records of palmetto company for the month of januarybalance per
Every day, economists make statements in the news based on positive and normative analysis. The general public then interprets these statements. This exercise will help reinforce the difference between positive and normative analysis using example..
RAK Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 6 percent coupon bonds on the market that sell.
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