Valerie Vamp as an individual provides personal service and obtains commission as a designer of exclusive leather garments for export has the following plant on hand at 1st of July of the current income year. Item Cost Price Opening Adjustable Value Tax Depreciation Rate Leather Garment Machine A
Valerie Vamp as an individual provides personal service and obtains commission as a designer of exclusive leather garments for export has the following plant on hand at 1st of July of the current income year. Item Cost Price Opening Adjustable Value Tax Depreciation Rate Leather Garment Machine A
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Valerie Vamp as an individual provides personal service and obtains commission as a designer of exclusive leather garments for export has the following plant on hand at 1st of July of the current income year.
Item
Cost Price
Opening Adjustable Value
Tax
Leather Garment Machine A
20,000
17,400
20% DV
Valarie sold Leather Garment Machine A on 30 September of the current income year for $15,000.
The balancing adjustment on sale will be:
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