please help me Mandurah Manufacturing Ltd's post-closing trial balance at 30 June 2010 included the followingbalancesMachinery control (at cost)$244 480$113 800Accumulated depreciation - machinery controlFixtures (at cost, purchased 2 December 2007)$308 600Accumulated depreciation - Fixtures$134 138The Machinery Control and Accumulated depreciation - Machinery Control accounts, are supportedby subsidiary ledgers. Details of machines owned at 30 June 2010 are as follows:MachineCostEstimated useful lifeEstimated residual value$74 6005 years$82 4005 years$87 480 6 years123Acquisition date28 April 20064 Febuary 200826 March 2009$3800$4400$5400Additional information(a) Mandurah Manufacturing Ltd uses the general journal for all journal entries, recordsdepreciation to the nearest month, balances its books every 6 months, and records amountsto the nearest dollar.(b) The company uses straight-line depreciation for machinery and reducing balancedepreciation at 20% per annum for fixtures.(c) 3 July 2010, Exchanged items of fixtures (having a cost of $100 600; a carrying amount atexchange date of $56 872; and a fair value at exchange date of $57 140) for a used machine(Machine 4). Machine 4's fair value at exchange date was $58 000. Machine 4 originally cost$92 660 and had been depreciated by $31 790 to exchange date in the previous ouner'saccounts. Mandurah Manufacturing Ltd estimated Machine 4's useful life and residual valueto be 3 years and $4580 respectively.(d) 10 Oct 2010, Traded in Machine 2 for a new machine (Machine 5) that cost $90 740. A trade-in allowance of $40 200 was received and the balance was paid in cash. Freight charges of$280 and installation costs of $1600 were also paid in cash. Mandurah Manufacturing Ltdestimated Machine 5' useful life and residual value to be 6 years and $5500 respectively.(e) 24 April 2011, Overhauled Machine 3 at a cash cost of $16 910, after which MandurahManufacturing Ltd revised its residual value to $5600 and extended its useful life by 2 years.(f) 16 May 2011, Paid for scheduled repairs and maintenance on the machines of $2370(g) 30 June 2011 Recorded depreciation and scapped Machine 1.Requireda. Prepare the journal entries to record the above transactions and eventsb. Preprare the accumulated depreciation - Machinery Control and Accumulated depreciation- Fixture ledger accounts for the period 01 July 2010 to 30 June 2011.

Name: please help me Mandurah Manufacturing Ltd's post-closing trial balance
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: please help me Mandurah Manufacturing Ltd's post-closing trial balance at 30 June 2010 included the followingbalancesMachinery control (at cost)$244 480$113 800Accumulated depreciation - machinery controlFixtures (at cost, purchased 2 December 2007)$

Accumulated Depreciation The entire amount of depreciation applied to an equipment up to a…

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estimated Machine 5' useful life and residual value to be 6 years and $5500 respectively. (e) 24 April 2011, Overhauled Machine 3 at a cash cost of $16 910, after which Mandurah Manufacturing Ltd revised its residual value to $5600 and extended its useful life by 2 years. (f) 16 May 2011, Paid for scheduled repairs and maintenance on the machines of $2370 (g) 30 June 2011 Recorded depreciation and scapped Machine 1. Required a. Prepare the journal entries to record the above transactions and events b. Preprare the accumulated depreciation - Machinery Control and Accumulated depreciation - Fixture ledger accounts for the period 01 July 2010 to 30 June 2011.