Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following balances os at December 31, 2019 were extracted from the trial balance of Riches Company Limited: DETAILS DR CR Premises B00,000 10% Morte

image text in transcribed
The following balances os at December 31, 2019 were extracted from the trial balance of Riches Company Limited: DETAILS DR CR Premises B00,000 10% Morte 400,000 Retained eaming 145.000 Goodwill 200,000 General reserves 55,000 Ordinary shares @ $2 400,000 10% Preference shares $0.30 200.000 Share premium 55.000 Motor vehide 750,000 Provision for deprecation: Motor vehicle 150.000 10% Debenture 350.000 Mortgage Interest 20,000 Debenture interest 15.000 cost of sales 250,000 Closing stock 90.000 urance 10,000 Wages salaries 60.000 Interim ordinary share dividend 12.000 Bank 59.000 Common fecived 21,000 Provided that you have been told that motor venice to be depreciated at 15 using a reducing balance method. boodwill it to be written off by 20%. ana proti ter tax le $450.000 how much the total for property plant and equipment Select one 51310,000 31.490.000 C! 400.000 8. $350.000

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

Governmental Accounting

Authors: Steven M. Bragg

2022nd Edition

1642210781, 978-1642210781

More Books

Students also viewed these Accounting questions

Question

=+ Where are the weaknesses?

Answered: 1 week ago

Question

Cite ways to overcome fear of success.

Answered: 1 week ago

Question

=+Why were they effective? How could you continue the campaign?

Answered: 1 week ago

Question

=+Who's your primary audience?

Answered: 1 week ago

Question

=+What do they need to hear?

Answered: 1 week ago