LCD Company prepares its accounts to 5 April each year. ALS April 2019, the tax written down value on its main pool is E12500. in the year to S Apri 2020, LCD Company boughethe flowing assets: 1 june 2019 Machinery E990.000. 12 November 2019 new Van E17500. 10 February 2020 Car for salesman ol coz emissons 100pkm ER000. LCD Company dispoied of plant on ts December 2019 for E12.000 (original cost E16.00o. Calculate the writing down allowance (wDA for LCD Company for the year ended 5 Apri 2020. OAE3060. OBE9.000. CE7.200. D.E7500.

LCD Company prepares its accounts to 5 April each year. ALS April 2019, the tax written down value on its main pool is E12500. in the year to S Apri 2020, LCD Company boughethe flowing assets: 1 june 2019 Machinery E990.000. 12 November 2019 new Van E17500. 10 February 2020 Car for salesman ol coz emissons 100pkm ER000. LCD Company dispoied of plant on ts December 2019 for E12.000 (original cost E16.00o. Calculate the writing down allowance (wDA for LCD Company for the year ended 5 Apri 2020. OAE3060. OBE9.000. CE7.200. D.E7500.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Maplewood Supply received a $5,430 invoice dated 4/15/20. The $5,430 included $330 freight. Terms were one discount, assume date of last discount.) a. If Maplewood pays the invoice on April 27, 2020 what will it pay? Payable amount b. If Maplewood pays the invoice on May 21, what will it pay? Payable amount 4 3 n 10 " (If more than ' 30 60
Sunlight Co. Started operations on January 1, 2018, selling home appliances on instalment basis. For 2018 and 2019, the following information are available: 2018 2019 Installment Sales Cost of Installment sales Collections: For 2018 sales For 2019 sales P1,200,000 720,000 P1,500,000 1,050,000 630,000 450,000 900,000 On 2019, an instalment sales account balance of 2008 was defaulted and the merchandise, with current market value of P15,000, was repossessed. The account balance defaulted was P24,000. 17. The gross profit rate in 2019? а. 30% b. 40% c. 35% d. 45% 18. The balance of the deferred gross profit account as at the end of 2019 was a. 218,400 b. 228,000 c. 275,000 d. 450,000 19. How much is the gain or loss on repossession? a. Gain P600 b. Loss P1,800 c. Loss P9,000 d. Gain P1,800 LILU
Hybrid Dealers bought computer equipment for R54 000 on 1 July 2018. The equipment is depreciated at 20% according to the diminishing balance method. Prepare the depreciation and closing transfer entries in the general journal of Hybrid Dealers on 31 March 2019 and 31 March 2020.
On January 01, 2020 Kit Company, Inc. establishes a branch in Bauang. During the year, Kit Inc. transfers cash and merchandise to the branch worth P15,000 and P45,000 respectively. Freight was paid by the home office worth P1,500 included in the cost of merchandise. The home office also incurred P5,700 expenses of which 30 percent was allocated to the branch. On December 31, 2020, the branch incurred a loss of P4,000. What is the balance of the branch account as per home office books. Present solution in good accounting form.
On January 1, 2020, Allure Company sold an equipment with a carrying amount of P800,000, receiving a noninterest bearing note due in three years with a face amount of P1,000,000. There is to established market value for the equipment. The interest rate on similar obligations is 12%, The present value of 1 at 12% for three periods is .712. What amount should be reported as interest income for 2020/ A.288,000 B.120,000 C.96,000 D.85,440
Hi kindly help me with these taxation problems, thanks in advance!
Hybrid Dealers bought computer equipment for R54 000 on 1 July 2018. The equipment is depreciated at 20% according to the diminishing balance method. Required: Prepare the depreciation and closing transfer entries in the general journal of Hybrid Dealers on 31 March 2019 and 31 March 2020. Please see attached for answer format
Hybrid Dealers bought computer equipment for R54 000 on 1 July 2018. Theequipment is depreciated at 20% according to the diminishing balance method.Required:Prepare the depreciation and closing transfer entries in the general journal ofHybrid Dealers on 31 March 2019 and 31 March 2020 respectively.
Required: a. Determine the maturity dates of the March 1 and November 1 notes. Date of Note Maturity Date March 1 November 1