Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question:
Part A:
Briefly explain the term "depreciation" and give three reasons why do we need to provide for depreciation on fixed assets during a financial year.
Part B:
The following information is available for the year ended 31 December 2007 for Rooney Ltd:
Provision for depreciation (as at 01 January 2007) Rs 25,000 Fixed Assets at costs (as at 01 January 2007) Rs 125,000
Fixed Assets acquired on 01 March 2007 Rs 50,000 Fixed Assets acquired on 01 April 2008 Rs 15,000 (a) Calculate the depreciation figure for the years ended 31 December 2007 and 2008 using:
(i) 20% straight line method of depreciation (ii) 20% reducing balance method of depreciation
(b) What will be the net book value of Fixed Assets as at 31 December 2007 and 2008 using both methods?
Please use the following information to answer questions 4-5: Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-
Write short notes on 5 modern accounting techniques
Jane and Walt form Orange Corporation. Jane transfers equipment worth $475,000 (basis of $100,000) and cash of $25,000 to Orange Corporation for 50% of its stock. Walt transfers
Q. Example of Income statement of a merchandising firm? To recapitulate the more important relationships in the income statement of a merchandising firm in equation form -
profit
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
What is the implication of applying accounting concepts wrongly
Q. Explain about Exchange-price or cost principle? When resources are transferred between two parties such like buying merchandise on account the accountant must follow the exc
Having discussed the possibility of accounting and its emerging function, we are currently in a position to illustrates as to who is an accountant. In an attempt to reply this ques
What careers can i do with these subjects?
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd