The following information relates to the fixed assets of a business. Depreciation is calculated on the reducing

Question:

The following information relates to the fixed assets of a business.

Depreciation is calculated on the reducing balance basis at the rate of 30%. What was the net book value of the assets that were disposed of in the year ended 31 March 2003?

A. $11 400

B. $16 800

C. $18 400

D. $25 400

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

See More Books

Question Posted: Aug 27, 2023 09:15 AM

See More Questions

Old Office Building Karas Investments owns a small office building in Windhoek, from which the company operates. The Windhoek office was purchased on 1 March 2019. Karas Investments decided to move...
The following information relates to Dell City, whose first fiscal year ended December 31, 2019. Assume Dell has only the long-term debt as specified below and only the funds necessitated by the...
The financial statements of CJ for the year to 31 March 2006 were as follows: Income statement for the year to 31 March 2006...
Data-2-Go manufactures and sells flash drives. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month:...
Blue Sky manufactures mattresses for regional furniture companies in USA. Blue Sky has the following information Selling price per unit ..........................$0.60 Variable Direct Material...
A resort hotel has total annual sales revenue of $1,000,000, variable costs of $350,000, and fixed costs of $570,000. The fixed costs include $80,000 a year for land rental lease. a. Calculate the...
What are the similarities and differences between a restricted stock discount observed when public companies issue restricted shares and marketability discounts applicable to minority interests in...
Cordelia Barrera is attempting to monitor a filling process that has an overall average of 705 cc. The average range is 6 cc. If you use a sample size of 10, what are the upper and lower control...
Exercise 10-6 (Algo) Direct Materials and Direct Labor Variances (LO10-1, LO10-2] Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards...
The following information is extracted from the books of a business. Further information for the year ended 31 December 2003 is as follows. How much was received from the sales of fixed assets? A....
The following balances have been extracted from Joel's books at 31 December 2003. Machinery at Cost $18 000; Provision for Depreciation of Machinery $9600. Joel's transactions in 2004 included the...
Brian Callahan, IS project manager, is just about ready to depart for an urgent meeting called by Joe Campbell, manager of manufacturing operations. A major BPI project, sponsored by Joe, recently...
Critical Values. In Exercises 41-44, find the indicated critical value. Round results to two decimal places. 41. Z0.25 42. Z090 43. Z0.02 44. Z0.05
Case Study X Ltd. has 10 lakhs equity shares outstanding at the beginning of the accounting year 2016. The appropriate P/E ratio for the industry in which D Ltd. is 8.35. The earnings per share is...
Notation of 0 + Using the same survey described in Exercise 1, the probability of randomly selecting 50 speaking characters from movies and getting 40 females is expressed as 0+. Does 0+ indicate...
A simple random sample of 10 pages from a dictionary is obtained. The numbers of words defined on those pages are found, with the results n = 10, x = 66.4 words, s = 16.6 words. Given that this...
Question 3 58.5 Average global temperature 1880-2013 58.0 $ 57.5 57.0 56.5 1880 1900 1920 1940 1960 1980 2000 2020 Year The graph above indicates that global temperatures have Ovaried randomly over...
Why did solar panel installers object to tariffs on Chinese made solar panels (see the News Wire "Tariff Protection")?
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
What kinds of consumer products are the following: ( a ) watches, ( b ) automobiles, and ( c ) toothpastes? Explain your reasoning.
Cite two examples of business products that require a substantial amount of service in order to be useful.
Explain why a new law office might want to lease furniture rather than buy it.
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2...
Prepare the adjusting journal entries and Post the adjusting journal entries to the T-accounts and adjust the trial balance. Dresser paid the interest due on the Bonds Payable on January 1. Dresser...
Venneman Company produces a product that requires 7 standard pounds per unit. The standard price is $11.50 per pound. If 3,900 units required 28,400 pounds, which were purchased at $10.92 per pound,...

The following information relates to the fixed assets of a business. Depreciation is calculated on the reducing

Question:

Cost at 1 April 2002 Accumulated depreciation at 1 April 2002 Fixed assets purchased in year ended 31 March 2003 Depreciation charged for the year ended 31 March 2003 $ 32 000 13 600 7.000 4 200

Step by Step Answer:

The answer is C 18 400 Calculation Net book value of assets at 1 April 2002 Cost at 1 April 2...View the full answer

Accounting A Level And AS Level

Students also viewed these Business questions