Question
Question HRH'S balance sheet of 30 June 2011 shows a motor vehicle at a cost price of $72,000 less accumulated depreciation of $36,000. Depreciation is
Question
HRH'S balance sheet of 30 June 2011 shows a motor vehicle at a cost price of $72,000 less accumulated depreciation of $36,000. Depreciation is calculated on a straight-line basis. If the vehicle had a useful life of 6 years at the time of purchase and a residual value of $6,000. What is its carrying amount on 1 July 2013.
a) 24,000
b) 25,000
c) $14,000
d) $26,000
are the balances for Johnson Co at 12 December:Accounts Receivable $23 452Allowance for Doubtful
Debts 1 252 $22 200
If an account for $300 is written off on 15 December what is the estimated realisable value of Accounts Receivable after the write-off? (Ignore any GST adjustment for the purposes of this question).
A. $20 452
B. $25 200
C. $22 200
D. $19 200
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started