Question
6) ABC Enterprises purchased a machine on 1st April 2019. Following costs were incurred on the date. Calculate the cost of the machine as per
6) ABC Enterprises purchased a machine on 1st April 2019. Following costs were incurred on the date. Calculate the cost of the machine as per the IAS 16. Purchase cost - Rs. 500,000 Trade discounts 10% from the purchase value Carriage inwards Rs. 30,000 o Legal fee Rs.35,000 O o O o o Installation charge Rs. 4,000 VAT on purchase 40,000 (40% recoverable)
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Financial Accounting
Authors: Jan Williams, Sue Haka, Mark Bettner, Joseph Carcello
15th Edition
0077328701, 9780077328702
