User Account

All Pages

What was the profit or loss on disposal

Assignment Help Accounting Basics
Reference no: EM132713087

Question - Disposal of Asset - During the year to 30 June 20X7, Hibiscus Ltd sold a non-current asset for $36,000. It was acquired three years ago at a cost of $180,000. At the date of disposal of the asset, the accumulated depreciation was $138,000.

Required - What was the profit or loss on disposal, and what journal entries are needed to record the disposal?

Reference no: EM132713087

Questions Cloud

Create quality control sheet : Create a quality control (QC) sheet based on the scoring instrument. A set of detailed criteria for evaluation based on the scoring instrument.
Calculate the duration of the impact : A 0.600 kg hammer is moving horizontally at 4.50 m/s when it strikes a nail and comes to rest after driving it 1.00 cm into a board.
How do you explain projectile motion : 1. How do you explain projectile motion? 2. Why is it important to study projectile motion?
How much will be paid to common shareholders in year : Assuming the preferred shares have a cumulative dividend preference, how much will be paid to common shareholders in year 2?
What was the profit or loss on disposal : During the year to 30 June 20X7, Hibiscus Ltd sold a non-current asset for $36,000. What was the profit or loss on disposal
Hipaa privacy : Zameya, a 44-year-old high school teacher, called her mom's physician and asked about the results from her mom's urinalysis taken at the office
What is the maximum chamber length : A settling chamber is to be used to collect particles with a density of 1200 kg/m3 from an air stream at 1.013 bar and 350 K. The volumetric flow rate is 2.0 m3
What kind of hedge is engaged : If an FI purchases this contract, in what kind of hedge is it engaged? Suppose that you purchase a Treasury bond futures contract at $95 per $100 of face value
Calculate expected annual sick-leave expense for dainty ltd : The employees are entitled to 2 weeks', nonvesting sick leave per annum. Calculate the expected annual sick-leave expense for Dainty Ltd

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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