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Question - TAKULAH Traders Ltd purchased a machine for $650 000 and there was an accumulated depreciation balance of $110 000 at 30 June 2022. Its fair value is assessed at this time, with its first revaluation as $450 000. The machine's useful life is expected to be 5 more years and the residual value to be $50 000. On 1 July 2023 the asset's fair value is $460 000 and the residual value and useful life are expected to be unchanged (that is, there is 4 years of remaining life).
Required - Provide the journal entries necessary to account for all the above transactions and events up to 1 July 2023, in accordance with AASB 116 if the revaluation is undertaken.
FLSA - On December 1st, the federal annual salary threshold for employees exempt form overtime pay will double, increasing to $47,476 from $23,660.
Calculate LaDanion's return on assets and return on equity ratios
Direct materials standard (6 pounds per unit @ $0.55/lb.) $3.30 per finished good. How much is the direct materials quantity variance
panamint systems corporation is estimating activity costs associated with producing disk drives tapes drives and wire
Has assistant tested for occurrence? Explain in terms of your knowledge of auditing how a test for occurrence should be undertaken.
the raab company is expanding its production facilities to include a new product line a sporty automotive tire rim.
On January 1, 2017, Loud Company enters into a 2-year contract with a customer for an unlimited talk and 5 GB data wireless plan for $65 per month.
Identify the features common to the gift tax formula and the estate tax formula. What is the lifetime gift tax exemption in tax year 2012? What is that exemption amount in 2013?
Speedy Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 150,000 miles.
What is the amount of expense related to pension costs recognized by each company in its income statement for the year ended December 31, 2011
MA619 Accounting Research Assignment - Research Report, Melbourne Institute of Technology, Australia. Prepare and present a substantive research report
Describe the goals that could be achieved through social learning that otherwise would not be achieved within the organization.
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