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

Question

1 Approved Answer

Pernia Ltd signed a 4-year contract with Comp Ltd for the use of a customised machinery on 1 July 2020. Pernia Ltd intends to return

image text in transcribed

Pernia Ltd signed a 4-year contract with Comp Ltd for the use of a customised machinery on 1 July 2020. Pernia Ltd intends to return the asset at the end of the lease term. The leased machinery meetc the criteria of a leaced accet in arrordanre with ASR1 L lences The following information 'ernia Ltd that is in accorudnce WILI AADD 0 Leases UII sU June U : $64,886 $214,876 $286,251 $71,375

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

Auditing And Assurance Services An Integrated Approach

Auditing And Assurance Services An Integrated Approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

18th Edition

0137879199, 9780137879199

More Books

Students also viewed these Accounting questions

Question

★★★★★
What is Gross Profit? What is another name it is known by and why it is called Gross Profit and not just Profit?

Answered: 1 week ago

Question

★★★★★
In a PPS sample with a sampling interval of \($10,000,\) an auditor discovered that a selected account receivable with a recorded amount of \($5,000\) had an audit amount of \($2,000.\) The projected...

Answered: 1 week ago

Question

★★★★★
81. Each of 12 refrigerators of a certain type has been returned to a distributor because of an audible, high-pitched, oscillating noise when the refrigerator is running. Suppose that 7 of these...

Answered: 1 week ago

Question

★★★★★
Buddy Holly Companys sales budget projects unit sales of part 198Z of 10,000 units in January, 12,000 units in February, and 13,000 units in March. Each unit of part 198Z requires 2 pounds of...

Answered: 1 week ago

Question

★★★★★
Problem 6-8 Expectations Theory Interest rates on 4-year Treasury securities are currently 6.6%, while 6-year Treasury securities yield 7.3%. If the pure expectations theory is correct, what does the...

Answered: 1 week ago

Question

★★★★★
Ewing Natural Gas is a large energy company with headquarters in Dallas, Texas. The company offers a wide variety of energy products and has annual revenues of approximately $50 billion. Because of...

Answered: 1 week ago

Question

★★★★★
What are benefits of Spark over MapReduce? Explain in detail

Answered: 1 week ago

Question

★★★★★
Solve and indicate whether the following series are convergent or divergent Ans: Diverges by Limit Comparison Test 0 3 m=1 7" n! Ans: Converges by Integral Test 8 h= n=1 Thus, this diverges by the...

Answered: 1 week ago

Question

★★★★★
A farmer installed a tank for the purpose of keeping the hot water for his residential house in the farm. The tank is made of mild steel of wall thickness 10 mm and contains water at 90oC. Calculate...

Answered: 1 week ago

Question

★★★★★
Explain why you chose the specific article? How is it relevant to the current health care landscape? Discuss current event from the perspective of a health care administrator. Document your thoughts...

Answered: 1 week ago

Question

★★★★★
7. A series of transactions for Ace Repair is given below. Use the chart to show the effect of each of the transactions on assets, liabilities, and owner's equity by placing an x in the appropriate...

Answered: 1 week ago

Question

★★★★★
(CLO3) Sam and Mike are discussing using a new project management framework. Mike mentions that no matter what the team should always be willing to try new things. Sam asks Mike to focus on the pros,...

Answered: 1 week ago

Question

★★★★★
Assuming that the failure in communication was internal to H&M, how in the future can they present this incident from happening again?

Answered: 1 week ago

Question

★★★★★
How do you rate your ability to read nonverbal communications (e.g., facial expressions, vocal quality, gestures, and posture)? What can you do to improve your ability to understand nonverbal...

Answered: 1 week ago

Question

★★★★★
Which response style do you believe is most commonly used at work? Should the most commonly used response style be reflecting? Why or why not?

Answered: 1 week ago

Previous Question Next Question