User Account

All Pages

Show the provisions for depreciation-equipment account

Assignment Help Financial Accounting
Reference no: EM132894295

On 1 January 2016, George Bradshaw and Sons Ltd, purchased equipment at a cost of $2000000.The business depreciates it fixed assets at a rate of 20% per annum using the reducing balance method.The business year ends on December 31 .On 5January 2019 ,the business sold the equipment and received $1000000 by cheque.

Problem 1: Show the following;

a) depreciation schedule
b) equipment account
c) provisions for depreciation-equipment account
d) Equipment disposal account
e) profit and loss extract
f) balance sheet extract

Reference no: EM132894295

Questions Cloud

What would be good content for craig design : What is an historical transaction? What would be good content for Craig's Design and Landscaping to include on their customized sales form?
Leadership training : It will take more than a effort to adequately complete this major assignment. Write a paper recommending a leadership theory.
It would recognize the sale of inventory on March : If Bremmer were to keep records denominated in dollars, it would recognize the sale of inventory on March 24, by crediting cost of goods sold for
Is the transaction nontaxable under Code Sec : Olivia contributed services worth $24,000 and property worth $1,000 and Tatiana contributed property worth $25,000. Is the transaction nontaxable under Code Sec
Show the provisions for depreciation-equipment account : Show the provisions for depreciation-equipment account. On 1 January 2016, George Bradshaw and Sons Ltd, purchased equipment at a cost of $2000000.
Differs from good opportunity : Define how an idea differs from a good opportunity (Define both and answer through your definitions).
What are the tax consequences of a cash contribution : What are the tax consequences of a cash contribution to capital by a non share-holder? What are some disadvantages of having debt
What was windsor net cash provided by operating activities : What was Windsor's net cash provided by operating activities? Paid $75200 to purchase office equipment. Paid $189500 for salaries.
Compute GHJ dividends-received deduction : BP Inc. (a taxable California corporation in which GHJ holds a 2% stock interest)$17,300MN Inc. Compute GHJ dividends-received deduction

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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