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

Question

1 Approved Answer

QUESTION 3: A machine purchased by Pruno Ltd had a cost of S670 000 and an accumulated depreciation balance of $120 000 al 30 June

image text in transcribed
QUESTION 3: A machine purchased by Pruno Ltd had a cost of S670 000 and an accumulated depreciation balance of $120 000 al 30 June 2018. Its fair value is assessed at this time, with its first revaluation as $450 000. Required What are the appropriate journal entry to record the revaluation? 1

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

Access Audit Handbook

Access Audit Handbook

Authors: Alison Grant

1st Edition

1859461778, 978-1859461778

More Books

Students also viewed these Accounting questions

Question

★★★★★
Use the entire panel data set in AIRFARE.RAW for this exercise. The demand equation in a simultaneous equations unobserved effects model is Log(passenit) = it + 1 log(fareit) + ait + uit, where we...

Answered: 1 week ago

Question

★★★★★
=+ Here, Pd is the price of domestic goods, Pf is the price of foreign goods measured in the foreign currency, and e is the exchange rate. Thus, Pf

Answered: 1 week ago

Question

★★★★★
Otter Bay Kayaking Adventures The primary target market for Otter Bay Kayaking Adventures is the group of tour coordinators who work on the cruise ships that visit Juneau each summer. Kay Johnson,...

Answered: 1 week ago

Question

★★★★★
In what respects are the following common practices subtle (or not-so-subtle) forms of price discrimination? a. Frequent-flier and frequent-stay programs b. Manufacturers discount coupon programs c....

Answered: 1 week ago

Question

★★★★★
QUESTION 3: A machine purchased by Pruno Ltd had a cost of S670 000 and an accumulated depreciation balance of $120 000 al 30 June 2018. Its fair value is assessed at this time, with its first...

Answered: 1 week ago

Question

★★★★★
E8-12 (Algo) Preparing Production, Direct Materials Purchases Budgets [LO 8-3b, c] Croy Incorporated has the following projected sales for the next five months: Croy's finished goods inventory policy...

Answered: 1 week ago

Question

★★★★★
Prepare the income statement and the statement of owner's equity for the month of June, and the balance sheet as of June 30. Nina Niko launched a new business, Niko's Maintenance Co., that began...

Answered: 1 week ago

Question

★★★★★
The following information was taken from the accounting records of Elliott Manufacturing Corp. Unfortunately, some of the data were destroyed by a computer malfunction. Sales Revenue Finished Goods...

Answered: 1 week ago

Question

★★★★★
M/s Suba Pharmaceuticals has imported a machinery on 1st July, 2012 for `1,60,000 paid custom duty and freight `80,000 and incurred erection charges ` 60,000. Another local machinery costing...

Answered: 1 week ago

Question

★★★★★
Question 5 a) Departments A, B, C, and D need to be assigned to four rooms 1, 2, 3, and 4. These rooms are arranged in a row, in that order, with 20 meters between each. The departmental workflows...

Answered: 1 week ago

Question

★★★★★
Bob Jonas is a single parent who has been divorced for two years and who provides a home for his 10-year old dependent son. What filing status should Bob use? Select one: a. Married Filing Separate...

Answered: 1 week ago

Question

★★★★★
4. Describe the aims of the selection process and describe a methodical approach that can be used to achieve these aims.

Answered: 1 week ago

Question

★★★★★
suggest a range of work sample exercises and design them

Answered: 1 week ago

Question

★★★★★
1. Choose three different job advertisements from three different sources (one from an Internet recruitment site, one from a newspaper and one from an employers corporate website). Comment on the...

Answered: 1 week ago

Previous Question Next Question