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Question: On 1st January, 1959, a firm bought Machinery at a cost of £2,000 and on 1st July, 1960, additional Machinery costing £500. On 1st January, 1961, Machinery which cost £300 on 1st January, 1959, was sold for £160. Additional Machinery was purchased on 1st April, 1961, at a cost of £400. Part of the Machinery, purchased on 1st July, 1960, for £150, was scrapped and sold for £70 on 1st October, 1962. The Machinery had been depreciated annually at 31st December, at the rate of 5 per cent premium calculated on the original cost over the period of its use. Show the accounts recording these transactions for the four years ended 31st December, 1959, 1960, 1961 and 1962.
Compute the amount of the liability that should appear on the December 31, 2011, balance sheet.
what would be the accounts in the journal entry to correct a 4 stock dividend 2000 common stock 1 par market value 12
a software development process that was characterized as a series of prototyping efforts with an emphasis on risk
dan smith is a certified human resource manager who serves on the board of a local professional association of human
alexandria semiconductors produces 300000 hi-tech computer chips per month. each chip uses a component which alexandria
Prepare a Schedule of Expected Cash Collections for November and December. Prepare a Merchandise Purchases Budget for November and December.
read the virgin america lands in the united states case study and provide a detailed and specific answer for the
Shue, a partner in the Financial Broker Partnership, has a 30% share in partnership profits and losses. Shue's capital account had a net decrease of $100,000 during 2003. During 2003, Shue withdrew $240,000 as withdrawals and contributed equipment..
In December 2012, Milly Newton opened an organic dry-cleaning shop. The financial statement effects template below shows transactions for the month (a through i) and accounting adjustments (i through iv).
Write a paper that describes the main aspects of the regulatory environment which will protect the public from fraud within corporations, Pay particular attention to SOX requirements.
Record these events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example.
How should depreciation be recorded? Do you support Biles or Smith? Evaluate the strengths and weaknesses of Smith's reasons for preferring his method.
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