Pass the necessary entry in june

Assignment Help Cost Accounting
Reference no: EM133039023

Question - Pass the necessary entry in 30 June 2020 to eliminate the intra-group transfer of equipment  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.

Reference no: EM133039023

Questions Cloud

Eliminating modern slavery from supply chains : How does Nestle link rewards and incentives to strategically-important employee behaviours and the company's targeted sustainability outcome?
What is business ethics : What is business ethics, and what are some significant issues that businesses face today?
What is its expected recovery from defaulted consumer : Given a concentration limit of 0.35 (i.e., 35 percent of capital) it sets for the consumer sector, what is its expected recovery from defaulted consumer loans
Employee engagement in generating satisfaction : Managers would like to know the answer to two very important questions: (1) Are satisfied (happy) employees more productive than unsatisfied (unhappy) employees
Pass the necessary entry in june : Pass the necessary entry in 30 June 2020 - 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
What are the effects of the statutory contract : Explain to a client why the rules governing the internal administration and management of their company are ‘replaceable'
Determine the target cost per unit for the filter : Market research indicates that 1,000,000 units can be sold if the price is no more than $3. Determine the target cost per unit for the filter
Design a short covid policy : You are the manager at a local restaurant. You have 40 employees total. Your restaurant has been hit hard by the COVID crisis but you are still in business.
How many applications can be processed per hour : How many applications can be processed per hour if a second clerk is added to check for violations and restrictions while all other operations continue

Reviews

Write a Review

Cost Accounting Questions & Answers

  What assumption does the absorption costing approach make

When the absorption costing approach to cost-plus pricing is used, what is the markup supposed to cover? What assumption does the absorption costing approach make about how consumers react to prices?

  Calculate the amount of accounts receivable written off

Based on the above information, XYZ Company reported bad debt expense of $8,200 for 2002 - calculate the amount of accounts receivable written off as uncollectible by XYZ Company during 2002.

  The assets and liabilities of toronto service inc as of

the assets and liabilities of toronto service inc. as of december 31 2008 and revenue and expenses for the year ended

  Find the yearly financial statements

Demonstrate your ability to find the yearly financial statements that a public company files with the SEC. Prepare a report discussing your findings and utilize financial ratios in the report.

  Vasquez ltd is a retailer operating in edmonton alberta

vasquez ltd. is a retailer operating in edmonton alberta. vasquez uses the perpetual inventory method. all sales

  Find what was the labor efficiency variance for the month

What was the labor efficiency variance for the month? Standard direct labor wage rate: $14.50 per hour. Standard direct labor-hours: 6 hours per unit

  Advantages hedging same currency transactions against each

Discuss the advantages hedging same currency transactions against each other

  What would be the unit cost of good units

What would be the unit cost of good units, assuming both the defect and spoilage were both attributable to exacting specifications

  Determine the company future direct labor costs

Determine the company's future direct labor costs to produce the required braking system units if it manufactures the units in-house.

  Determine the reorder point in terms of gallons of pigment

Assuming that it takes 20 days to receive an order once it has been placed, determine the reorder point in terms of gallons of pigment

  Determine and create t-accounts for manufacturing overhead

Determine and Create T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from your journal entries to these T-accounts.

  How prepare schedule of cost of goods manufactured in good

How do Prepare a Schedule of Cost of Goods Manufactured in good form for September. Pamer Corporation has provided the data for the month of September

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!

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