the nominal ledger shows a carrying amount of $135.600. The difference could be due t a ap asset not having been deducted from the asset register. An organisation's asset register shows a carrying amount of $145,600. The non-current asset account in Which one of the following could represent that asset? Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000 Asset with disposal proceeds of $15,000 and a carrying amount of $5,000 Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000 Asset with disposal proceeds of $5,000 and a carrying amount of $5,000 (2 mark
the nominal ledger shows a carrying amount of $135.600. The difference could be due t a ap asset not having been deducted from the asset register. An organisation's asset register shows a carrying amount of $145,600. The non-current asset account in Which one of the following could represent that asset? Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000 Asset with disposal proceeds of $15,000 and a carrying amount of $5,000 Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000 Asset with disposal proceeds of $5,000 and a carrying amount of $5,000 (2 mark
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Can you please explain to me how 7.4 question is solved please in detail.
Transcribed Image Text:An control to to in the ledger and
An a amount of A asset had been
An to ensure of all assets are in the event of or theft
An asset register shows a of The asset in
sold for a loss on of $1,250. No entries had been in the asset register
the a of The be due to a disposed
7.2
Which of the statements below correctly states the purpose of the asset register?
To ensure the organisation is aware of the age of plant and machinery
(2 marks)
C.
the financial statements is correct
7.3
for this disposal.
(2 marks)
24
7.4
asset not having been deducted from the asset register.
Which one of the following could represent that asset?
B.
Asset with disposal proceeds of $15,000 and a carrying amount of $5,000
C.
Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000
D.
Asset with disposal proceeds of $5,000 and a carrying amount of $5,000
Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000
(2 mark
Which one of the following would occur if the purchase of computer stationary was debited to the
computer equipment at cost account?
An overstatement of profit and an overstatement of non-current assets
B.
An understatement of profit and an overstatement of non-current assets
C.
An overstatement of profit and an understatement of non-current assets
An understatement of profit and an understatement of non-current assets
D.
(2 m
Which one of the following statements correctly describes non-current assets?
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