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Nikitich [7]
2 years ago
12

On 1 July 2016 Liala Ltd sold an item of plant to Jordan Ltd for $450000 when its’ carrying value in Liala Ltd book was $600000

(costs $900000, accumulated depreciation $300000). This plant has a remaining useful life of five (5) years form the date of sale. The group measures its property plants and equipment using a costs model. Tax rate is 30 percent.
Business
1 answer:
guajiro [1.7K]2 years ago
8 0

Answer:

Follows are the solution to this question:

Explanation:

30.06.2017: Cash/Bank Account   Dr. $450000

Loss to Plant in revenue Dr. $150,000    

Cumulative Depreciation  Dr. $300000  

To the Factory Account  $900000  

(Selling the plant at a loss of $150000)  

Start buying by Jordan Ltd. of Equipment

30.06.2017   Plant Account   Dr.        $ 450000

To Cash /Bank Account                 $450000

(Being an Equipment Buyer)

30.06.2018   Depreciation Account Dr.       $90000

To the Depreciation Accrued           $90000

(Depreciation has been claimed for the plant)

30.06.2018 Profit and Loss Account Dr.     $90000

To Depreciation Account                       $90000

 (P&L Account paid for depreciation)

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A walking path at a local park is modeled on the grid below where the length of each grid square is 10 feet. The town needs to s
dem82 [27]

Answer:

The area of the walking path = 3,371 ft²

Explanation:

The complete Question is presented in the attached image to this solution

Note that the walking path consists of straight paths and curved paths.

The straight path is strictly squares, with 9 of them on both sides (top and bottom)

Area of the straight path = 18 × area of one square = 18 × 10² = 1800 ft²

For the curved path, note that their areas is the area between two semi circles.

Smaller semicircle has a radius of r = 20 ft.

Larger semicircle has a radius of R = 30 ft.

Area between the two semicircles = (Area of larger semicircle) - (Area of smaller semicircle)

= (πR²/2) - (πr²/2)

= (π×30²/2) - (π×20²/2)

= 785.4 ft²

But note that there are two of those curved paths, hence, area of the curved paths

= 2 × 785.4 = 1570.8 ft²

Total area of the walking path = (Area of straight path) + (Area of curved path)

= 1800 + 1570.8 = 3370.8 ft² = 3371 ft² to the nearest whole number.

Hope this Helps!!!

4 0
2 years ago
Human Resources Manager Claire Siu must inform Anthony that company job changes will require him to seek retraining or lose his
Schach [20]

Answer:

Option A is correct.

Face-to-face communication

Explanation:

Face-to-face interaction is a concept in sociology, linguistics, media and communication studies describing social interaction carried out without any mediating technology. Face-to-face interaction is defined as the mutual influence of individuals’ direct physical presence with his/her body language.

In this way HR Manager Claire Siu can deliver his message in a batter way to Anthony clearing Anthony's ambiguities about retraining or losing his position.

8 0
2 years ago
Read 2 more answers
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi
kupik [55]

Answer and Explanation:

1.a. The Journal entries are shown below:-

Refund liability Dr, $328,000

         To Account Receivables $328,000

(Being actual sales return of merchandise sold is recorded)

b. Inventory Dr, $229,600 ($328,000 × 70%)

          To Inventory—estimated returns $229,600

(Being cost of merchandise returned for goods is recorded)

c. Sales returns Dr, $266,000 ($594,000 - $328,000)  

         To Accounts receivable $266,000

(Being actual sales return of merchandise is recorded)

d. Inventory Dr, $186,200 ($266,000 × 70%)

        To Cost of Goods Sold $186,200

(Being cost of merchandise returned for goods is recorded)

e. Sales returns Dr, $ 307,000

           To  Refund liability $307,000

(Being year-end adjusting entry for estimated returns is recorded)

f. Inventory Dr, $214,900  ($307,000 × 70%)

      To Cost of Good Sold $214,900

Estimated returns of 2021 sales = 5% × $12,100,000      $ 605,000

Less: Actual returns of 2021 sales                                  ($266,000)  

Remaining estimated returns of 2021 sales                     $ 339,000

2. The computation of amount of the year-end refund liability after the adjusting entry is shown below:-

Beginning balance in refund liability            $360,000  

Less: Actual returns of pre-2021 sales        ($328,000)  

Add: Adjustment needed                               $307,000  

Ending balance                                              $339,000

6 0
2 years ago
Doyle’s Candy Company is a wholesale distributor of candy. The company services groceries, convenience stores and drugstores in
luda_lava [24]

Answer:

a) 275,000 boxed per year

b) sales price of $ 11.04

c) <em> sale volume in dollars 4.830.967,74</em>

Explanation:

selling price:   $ 9.60

Variable cost:  $<u> 5.76</u>

Contribution:   $ 3.84

Contribution Ratio: 3.84 / 9.60 = 40%

\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}

1,056,000 / 3.84 = <em>275,000</em>

<em />

<em>If Variable cost increase by 15%</em>

<em>To keep contribution ratio at 40% then selling price should be:</em>

(<em>X - 5.76 x 1.15) / X = 0.40</em>

<em>X = $ 11.04</em>

To keep the same income but without changing price:

current income: (sales x contribution less fixed cost)

(390,000 x 3.84 - 1,056,000) = 441,600

contribution: <em>(9.60 - 5.76 x 1.15) / 9.60 = 0.31</em>

\frac{Fixed\:Cost + Target \: Income}{Contribution \:Margin} = Break\: Even\: Point_{units}

<em>(1,056,000 + 441,600)/ 0.31 = </em>

<em>1.497.600‬ / 0.31 =</em><em> 4.830.967,74</em>

8 0
2 years ago
When your music teacher asks that you increase the decibels in a particular part of your performance, he is specifically request
REY [17]
Loudness. Hope this helps.
8 0
2 years ago
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