Q4.Metropol Ltd. acquired a machinery for Rs. 5,00,000 on 1St April 2009. Rs. 40,000 weregiven as wages for its installation. A similar machine was available in the market at Rs.4,00,000. Depreciation was to be charged at 20% p.a. on SLM basis.On 1st April, 2011 a modification was made to machinery to improve its technicalefficiency at a cost of Rs. 50,000 which it was considered would extend the useful life bytwo years. At the same time, the machine was painted at cost of Rs. 10,000 so that itlooks new.Routine machine maintenance during the year ending 31St March 2012 is Rs.7,500.Show for the year ending 31St March 2012:i. Machine Accountii. Provision for Depreciationiii. Relevant portions of P&L Account showing revenue charge relating to machineaccount.iv. Working note should form part of Solution

A depreciation expenditure seems to be the sum removed from operating income to account for a…

Answered: Metropol L given as wa 4,00,000. D On…

Business

Accounting

Metropol L given as wa 4,00,000. D On 1st April efficiency at two years. looks new. Routine mac

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Sheridan Corporation's Perfume division has a segment margin is $92000 for the current reporting…

A: Return on Investment (ROI) = Net income / Average Investment Where, Average Investment = (Beginning…

Q: Month Jan Feb Mar Apr May Jun Jul Aug # Machine Hours (X) 2000 4400 8200 6900 6200 9200 3500 5400…

A: VARIABLE COST Variable Cost is a cost that varies with the level of output.Variable costs include…

Q: A group of people is divided into 2 camps: 45% of them in camp A and rest in camp B. If 20% of A is…

A: Camp-1 consists of 45% of the all people Camp-2 consists of rest all Now 20% moved to camp B from…

Q: Project cash flow and NPV. The managers of Classic Autos Incorporated plan to manufacture classic…

A: The operating cash flow for the year 1 will be the value that is arrived after adding the…

Q: Complete the following using present value. (Use the Table 12.3 provided.) Note: Do not round…

A: Present value (PV) is the current value of a future value or stream of future cash flows at a…

Q: Project A Project B Project C Project D Table 1: The Planned Value of Work Done Schedule Feb March…

A: Planned Value- Planned Value means the approved value or the planned value which is desirable to…

Q: Fample Problem: Principal = P150,000 Period P I A rate = 18% 1 term = 1 year compounding mode…

A: The more is compounding more is accumulated interest and more is the future value of money…

Q: On 1/1/XX, IBM bought a 3 month forward contract of MXN 1,000,000 from Bank One. Based on this…

A: A forward contract is a financial agreement between two parties to buy or sell an asset at a…

Q: graph below shows monthly data collected on facilities maintenance department co, 000 5,000 tine of…

A: The equation of line consist of slope and the intercept. The intercept is where that cut on Y axis…

Q: The Best Appliances had the following revenue over the past five years View the revenus data To…

A: Margin of safety is the difference between total sales revenue and break-even sales revenue.…

Q: Actual Demand 2 Monthly Moving Average Year 1. 250 280 ?? 4 ?? ?? ?? ?? 8. ??

A: Moving average is the method used to forecast the trends. This is used to forecast the demand by…

Q: The operating and maintenance expenses on a machine is expected to increase $100 per month on the…

A: Equal series payment is defined as an investment for an equal cash flow regarding an investment…

Q: 16. The following information pertains to Annie Corporation's Material X: Annual usage 25,200 units…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: What nominal rate compounded semi-annually yields the same amount as 20 % compounded quarterly?

A: Given rate (r) = 20% quarterly compounded (Compounding frequency = 4) Let i = Nominal rate…

Q: Planned value (PV) is $111 Estimated time to completion is not unfavorable Estimated cost to…

A: Planned Value

Q: 700 Solve: 2. G00 EOQ i- 5% co. monthly Show your work below and put the answer in the yellow box.…

A: The value of all future cash flows discounted at required rate of return constitutes the present…

Q: Sage Co. always holds 4% of the next month's sales in ending inventory. Prepare a production budget…

A: Production budget is prepared to know how much production should be done in order to support the…

Q: Varmit-B-Gone is a pest control service that operates in a suburban neighborhood. The company…

A: Budgeting refers to estimating certain things for activities to be carried out in the near future.…

Q: Give typed explanation The demand for a product in the past 10 months were: 636, 463, 738, 744,…

A: Four Month Moving Average Method A prediction methodology was using to assess future demand for a…

Q: QUESTION 26 Consider the following table for Spain and France in which output for grapes and…

A: In simple words we can say that absolute advantage means the advantage of produce one goods in place…

Q: 4 Roessler Fine Dining has total assets of $310,100 and net fixed assets of $168,500. The average…

A: Interval measure is one of defensive ratio being used in business. It shows how much liquid assets…

Q: а. In order to produce 1000 units of X in a week units X is scheduled weekly for Operation B (due to…

A: a. In order to produce 1000 units of X in a week Number of units scheduled weekly for operation B =…

Q: Consider the following data: Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Production 3617 3454…

A: A fixed base index number is a type of index number that compares the current value of a variable…

Q: Suresh Co. expects its five departments to yield the following income for next year. Dept. M $63,000…

A: Workings:

Q: This attempt took 15 minutes. Partial Question 1 Consider the following short box spread. All prices…

A: A buyer of an option contract has the option to sell or purchase the assets or securities at the…

Q: company planned normal operation level (10,000 h) sales revenues andcosts for the 3rd quarter of…

A: Break even means where there is no profit no loss. Break even point means where the total cost and…

Q: 8. A bakery chain's annual usage of flour is 15,000 kg. The carrying costs is P5 per kg, ordering…

Q: i QUESTION 4 Anson Ltd has three product lines of belts -Metal belt, Cinch belt and Bow belt with…

A: Break even point in units = fixed cost/combined contribution margin

Q: B. REDRDER POinT? GIven: VEAD TimE = 1 WEEK AUERAGE USAGE = 7,000 units per uk. THERE ARE 50 WORKING…

A: Solution:- Re-order point is the point which tells that when should a firm places next order to its…

Q: 1. What will be the earnings of a worker at 60 paise per hour when he takes 100 hours to do a volume…

A: You have asked three questions but our protocol allows us to answer or solve one question only…

Q: o Apply the Goal Seek Analysis Add new Net Income Sparkline for January through March in Cell H24.…

A: The question deals with budget preparation and goal seek analysis. It also requires excel…

Q: Question (1) SamZuu Company is location in Ghana. The forecast information for the five months…

A: Cash Budget - A cash budget is the estimated form of making a budget for the organization. This…

Q: March 120,000 120,000 70,000 100,000 Аprl 120,000 140,000 90,000 120,000 May 200,000 140,000 100,000…

A: Contribution of the Project Sales. xxxxx-Variable cost.…

Q: Complete the table below the question above

A: The monthly cost = Flat rate + No. Of extra minutes x Variable rate Flat rate = $25 per month for…

Q: 1: The base amount in gradient series stars at the beginning of the second period. Select one: True…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: D1 Retention: 50%, D7 Retention: %20, D30 Retention: 8% Interstitial Impressions per DAU: 4,…

A: ARPU stands for Average Revenue Per User. It is a key metric used in various industries, especially…

Q: CH11_HW_QA2_PIR Required 1: 1-a. Compute the throughput time for each month. 1-b. Compute the…

A: Throughout time This was the Managerial Accounting techniques to find out the production time of the…

Q: Show formula for

A: Net present value (NPV) is used to determine the present value of all future cash flows. Net present…

Q: Prepare the budgeted income statement for the year ending October 31, 2021 using the incremental…

A: A budgeted income statement as per the incremental changes is the financial statement in which all…

Q: Certificate A pays $1100 in three months and another $1100 in sx months Certificate B pays $1100 in…

A: Discounting is a technique which is used to compute the present value (PV) of future cashflows by…

Q: Suppose that operating costs associated with the 7-year service life of an asset start with $1500 in…

A: NPV is also known as Net Present Value. It is a capital budgeting technique which helps in decision…

Question

Q4.
Metropol Ltd. acquired a machinery for Rs. 5,00,000 on 1St April 2009. Rs. 40,000 were
given as wages for its installation. A similar machine was available in the market at Rs.
4,00,000. Depreciation was to be charged at 20% p.a. on SLM basis.
On 1st April, 2011 a modification was made to machinery to improve its technical
efficiency at a cost of Rs. 50,000 which it was considered would extend the useful life by
two years. At the same time, the machine was painted at cost of Rs. 10,000 so that it
looks new.
Routine machine maintenance during the year ending 31St March 2012 is Rs.7,500.
Show for the year ending 31St March 2012:
i. Machine Account
ii. Provision for Depreciation
iii. Relevant portions of P&L Account showing revenue charge relating to machine
account.
iv. Working note should form part of Solution

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

In applying the high-low method, which months are relevant? Month Miles Total Cost January 80,000 $192,000 February 50,000 160,000 March 70,000 188,000 April 90,000 260,000 Group of answer choices January and April January and February February and March February and April
G SYSTEM (ACADEMIC) erial Accounting - Spring21 Time left 0:34:1 XYZ Co. has a contribution margin of $450,000 and profit of $150,000. If sales increase 30%, by how much will profits increase? a. 15% b. 90% C. None of the given answer is correct. O d. 60% e. 30% Company XYZ is currently making sales of $200,000. At this level, the variable expenses were $160,000. Assume that company XYZ expects sales to increase to $250,000 in the coming period with no change is expected to fixed expenses. How much is the expected change in profit? O O O
Find the production cost for 3 years, considering the given data: a. Material Cost -21,000.00 b. Labor Cost - 3,000.00 c. Overhead Expenses - 14,000.00 Assume 5% increase in all cost/ expenses every year. Cost/ Expenses Year 1 Year 2 Production Cost Year 3
21. The k-year spot rate is given by the formula s = 0.068 +0.002k - 0.001k². What is the 3-year forward rate (in)? A) 4.3% B) 4.5% C) 4.9% D) 5.5% E) 5,9%
Please fill in the last two column cells (Annual Profit and Cumulative Profits for 4 years, eight cells. Find the Breakeven year?
Which of the following would indicate the BEST Average Collection Period? 30 days 20 days 25 days 15 days
dont uplode any image in answer
HRM ASSIGNMENT- MBA II SEM POF Entrepreneurship_MBA II Sem.pd x PDE Financial Management - MBA II X O File | C:/Users/ANIKET%20PATWA/Downloads/Financial%20Management%20-%20MBA%2011%20Sem%20.pdf (D Page view A Read aloud V Draw E Highlight 1 of 2 ++ Erase Profit Rs.10,000 Variable Cost 70% 4. The comparative statement of two companies, namely Radha Co. Ltd and Mohan Co. Ltd. given below: Particulars Radha Co. Mohan Co. Sales 400000 400000 Variable Cost 200000 200000 Contribution Calculate? Calculate? Fixed Cost 100000 EBIT Calculate? Calculate? Interest 1000 EBT Calculate? Calculate? You are required to calculate different leverages, and comment which company is better in financial terms, assuming the rate of taxes is 30% and number of shares is 6000. 5. N O 15:58 O Type here to search a 4)) ENG 25 03-05-2021 +
CH11_HW_QA2_LA Required 1: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. 1-c. Compute the delivery cycle time for each month. (Round your answers to 1 decimal place.) Throughput Time Manufacturing Cycle Efficiency (MCE) Delivery Cycle Time Month 1 days % days Month 2 days % days Month 3 days % days Month 4 days % days Required 3: 3-a. (Month 5) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using Lean Production. Compute the new throughput time and MCE. 3-b. (Month 6) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 6 the inspection time, process time, and so…
Using 0 & 3,000 patient-days, variable cost per patient-day would be: a.$5.00 b.$10.00 c.$6.67 d.$7.17
Suppose a basic health facility is operating in Peshawar district. Beingstorekeeper, calculate Facility Max level? If EOP = 3 monthsReview Period = quarterlyAMC = 500 units / monthMax stock quantity = 600 unitsOn month end, SOH = 300 unitsOrder = Max stock quantity – Stock on handOrder quantity= 300 units
Management of Mittel Rhein AG of Koln, Germany, would ike to reduce the amount of time between when a customer places an order and when the order is shipped For the first quartet of operations during the cutrent year the following data were reported: Required: 1. Compute the throughput time (Round your answer to 1 decimol place.) 2. Compute the manufacturing cycle efficiency (MCE) for the quarter (Round your percentage onswer to nearest whole percent.) 3. What percentage of the throughput time was spent in non-value-added activities? (Round your percentoge answer to nearest whole percent.) 4. Compute the delivery cycle time. (Round your intermediote calculations and finol answer to 1 decimol ploce.) 5. If by using Lean Production all queue time during production is Eiminated, what wil be the new MCE? (Round your percentoge onswer to 1 decimal ploce.)