FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

explain step by step 4) Firm D prepares accounts to 31 December annually. In year 2019 the company had the following transactions: 1 January 2019

image text in transcribed

explain step by step

4) Firm D prepares accounts to 31 December annually. In year 2019 the company had the following transactions: 1 January 2019 sold plant (originally purchased for OMR 8,400) for OMR 6,000 1 May 2019 purchased new plant for OMR 2,500 The written down value (WDV) of plant at 1 January 2019 was OMR 3,000. Compute the balancing charge or allowance for the year ended 31 December 2019

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

Step: 3

blur-text-image

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 Non-Accounting Students

Accounting for Non-Accounting Students

Authors: John R. Dyson

8th Edition

273722972, 978-0273722977

More Books

Students also viewed these Accounting questions

Question

★★★★★
Kaleden Inc. is considering three countries for the sole manufacturing site of its new product: India, China, and Canada. The product will be sold to retail outlets in Canada at $47.50 per unit....

Answered: 1 week ago

Question

★★★★★
Using the bond details in both QS 10-1 and QS 10-2, confirm that the bonds selling prices given in each problem are approximately correct. Use the present value tables B.1 and B.3 in Appendix B....

Answered: 1 week ago

Question

★★★★★
2. Instructions for the interviewees: The interviewees should leave the room for about 20 minutes. While out of the room, the interviewees should develop an interviewer assessment form based on the...

Answered: 1 week ago

Question

★★★★★
Excel Learning Systems Inc. was organized on May 31, 2010. Projected selling and administrative expenses for each of the first three months of operations are as follows: June $117,400 July 110,500...

Answered: 1 week ago

Question

★★★★★
explain step by step 4) Firm D prepares accounts to 31 December annually. In year 2019 the company had the following transactions: 1 January 2019 sold plant (originally purchased for OMR 8,400) for...

Answered: 1 week ago

Question

★★★★★
Consider individual stages of the datapath that have the following latencies: IF ID EX MEM WB 15 ns 5 ns 10 ns 30 ns 5 ns A. (5 points) What is the clock cycle time in a pipelined and non-pipelined...

Answered: 1 week ago

Question

★★★★★
1. You just discovered a data breach caused by our employee pertaining to client data. What am the following would not be an immediate step you would be taking? a. Immediately inform the client, if...

Answered: 1 week ago

Question

★★★★★
Stereotyping ignores A. prejudices B. bias C. similarities D. Variations within cultural groups.

Answered: 1 week ago

Question

★★★★★
Sandhill Company bought machinery on January 1, 2009, at a cost of $90,000. The machinery had an estimated life of 8 years and salvage value of $15,680. On January 1, 2014, Sandhill estimates that...

Answered: 1 week ago

Question

★★★★★
Foreign real national income rises. This raises U.S. demand (AD). The AD curve shifts net exports; raises; rightward O imports; raises; rightward investment; reduces; leftward prices; reduces;...

Answered: 1 week ago

Question

★★★★★
15. Most goods can be classified as normal goods rather than inferior goods. The definition of a normal good suggests that: A. The income elasticity of demand for the good is negative B. The cross...

Answered: 1 week ago

Question

★★★★★
Private markets are powerless to combat adverse selection, so the only solution is a government-mandated insurance contract.

Answered: 1 week ago

Question

★★★★★
The main advantage of a Cochrane insurance contract over a guaranteed renewable contract is that it does not rely on a legally unenforceable binding lifetime commitment.

Answered: 1 week ago

Question

★★★★★
In a RothschildStiglitz model separating equilibrium, there is a volume discount for insurance purchases those who choose to buy more insurance pay a lower per-unit price for it.

Answered: 1 week ago

Previous Question Next Question