Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1st questions On 1April 2020, Ria bhd acquired a new technical equipment costing BND700,000 to support its business operation. New technical equipment can be used

image text in transcribed
1st questions On 1April 2020, Ria bhd acquired a new technical equipment costing BND700,000 to support its business operation. New technical equipment can be used for 10years. Half of the payment has been made by lovesick at the acquisition date by lovesick and another half will be paid later on 31 dec2020. No recording was made. Financial year end on 31/10/2020 Rate of exchange rm bnd 1/4/2020-Rm3.30 - 1BND 31/10/2020- Rm3.10- 1BND 31/12/2020-Rm3.20- 1BND How to prepare journal entries for technical equipment at this question? 2nd question During the year ended 31/10/2020, the management discovered that payments made to other payable totalling rm500,000 had been wrongly recorded debited to trade receivable. Further investigation revealed that the wrong recording was made in January 2019. Correct record was made for bank account. financial year end on 31/10/2020. How to prepare the journal entry

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Decision Making And Control

Authors: Jerold Zimmerman

7th Edition

0078136725, 9780078136726

More Books

Students also viewed these Accounting questions

Question

Produce a nine-step process for conducting a literature review.

Answered: 1 week ago

Question

1. What do I want to achieve?

Answered: 1 week ago

Question

3. What is my goal?

Answered: 1 week ago