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Effectus [21]
3 years ago
13

Lomani Ltd acquired two new machines for cash on 1 January 2017. The cost of machine A was $400 000, plus GST, and of machine B,

$600 000, plus GST. Each machine was expected to have a useful life of 10 years, and residual values were estimated at $20 000 for machine A and $50 000 for machine B. Because of technological advances, Lomani Ltd decided to replace machine A. It traded in machine A on 31 March 2021 for a new machine, C, which cost $420 000. A $200 000, plus GST, trade-in was allowed for machine A, and the balance of machine C’s cost was paid in cash. Machine C was expected to have a useful life of 8 years and a residual value of $20 000. On 2 July 2021, extensive repairs were carried out on machine B for $66 000 cash. Lomani Ltd expected these repairs to extend machine B’s useful life by 4 years and it revised machine B’s estimated residual value to $19 500. Machine B was eventually sold on 1 April 2023 for $300 000, plus GST, cash. On 1 July 2023, Lomani Ltd decided to use the revaluation model for valuation of Machine C. The fair value of Machine C was assessed to be $220 000 and the future useful life was estimated to be 5 years, residual value remains the same. Lomani Ltd uses the straight-line depreciation method, recording depreciation to the nearest whole month. The end of the reporting period is 30 june. prepare general journal entries to record the above transactions and depreciation journal entries required at the end of each reporting period up to 30 june 2024​
Business
1 answer:
PolarNik [594]3 years ago
7 0

Answer:

Explanation:هاي

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Calculate the activity rate per grooming order. $fill in the blank 1 per grooming order 2. Calculate, in terms of grooming order
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Solution :

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Activity rate                                                        <u>    Amount paid to agent     </u>

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Therefore, the activity rate  = 7 per grooming order

2. Calculating, in terms of grooming order, the :

a. Total activity availability

   Number of grooming orders  (A)                         =    4,000

   Number of agents (B)                                            <u>            5   </u>

  Total activity availability (A x B)                               20,000

b). Total activity availability                                     20,000

Less: Orders actually processed                        <u>   (17,800)   </u>          

Unused capacity                                                     2,200

3. calculating the dollar cost of :

a). Amount paid to the agent (A                       28,000

Number of agents (B)                                      <u>          5    </u>

Total activity availability in dollars (AxB)        140,000

b). Unused capacity (A)                                       2,200

Activity rate (B)                                                 <u>           7 </u>

Unused capacity in dollars (AxB)                    15,400

                                                 

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By weights, I mean the percentage of funding each source contributes to the total finance available at the firm's disposal.

WACC=(weight of equity*cost of equity)+(weight of mezzanine finance*cost of mezzanine finance)+(weight of debt*cost of debt)

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Find further guidance on weighted average cost of capital's computation in the link below:

brainly.com/question/25566972

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