1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Effectus [21]
2 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]2 years ago
7 0

Answer:

Explanation:هاي

You might be interested in
Huggins Co. has identified an investment project with the following cash flows. Year Cash Flow 1 $ 830 2 1,150 3 1,410 4 1,550 I
Rasek [7]

Answer:

$4,013.10.

$3,329.54.

Explanation:

If discount rate is 8%

PV of Cash Flows :

($830 / 1.08^1) + ($1,150 / 1.08^2) + ($1,410 / 1.08^3) + ($1,550 / 1.08^4)

$768.52 + $985.94 + $1,119.30 + $1,139.30

$4,013.10

If discount rate is 16%

PV of Cash Flows :

($830 / 1.16^1) + ($1,150 / 1.16^2) + ($1,410 / 1.16^3) + ($1,550 / 1.16^4)

$715.52 + $854.64 + $903.33 + $856.05

$3,329.54.

7 0
3 years ago
What is service enterprise​
soldier1979 [14.2K]
A Service Enterprise is an organization that strategically leverages volunteers to achieve operational efficiency and greater social impact. Service Enterprises are among the top 11 percent of nonprofits in the country in volunteer management and organizational performance.
8 0
2 years ago
"Moyas Corporation sells a single product for $10 per unit. Last year, the company's sales revenue was $280,000 and its net oper
Harlamova29_29 [7]

Answer:

23,750 units

Explanation:

The computation of the break even point in unit sales is shown below

Break even point = (Fixed expenses) ÷ (Contribution margin per unit)

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit  

The variable expense per unit is

= (Sale revenue - fixed expenses - net operating income) ÷ (Number of sales units)

= ($280,000 - $17,000 - $95,000) ÷ ($280,000 ÷ 10 per unit)

= ($280,000 - $17,000 - $95,000) ÷ (28,000 units)

= $6 per uni

And, the fixed expenses is $95,000

Now put these values to the above formula  

So, the value would equal to  

= ($95,000) ÷ ($10 - $6)  

= 23,750 units

4 0
3 years ago
You used to earn $76,000 a year in your old job! Suppose you return to college and earn an MBA, after which you get an upper-man
fredd [130]

Answer:

Federal social insurance taxes include OASDI taxes (Social Security) and Medicare taxes. Currently. In 2012, the Social Security tax limit was $110,100, while their was no limit on Medicare.

The Social Security tax rate was temporarily reduced during 2011 and 2012 from 6.2% to 4.2%, so your Social Security tax withholdings were $4,624.20 in 2012.

Medicare taxes did not change in 2012 and were 1.45%, so your Medicare tax withholding were $1,812.50 in 2012.  

8 0
2 years ago
Mary works for a small computer software company. Her boss is constantly improving the company's products but neglects customers
Artemon [7]

Answer:

A) production-oriented

Explanation:

Since in the question it is mentioned that Marry who works for a small computer software based company. Her boss is improving the products of the company in a constant way but at the same time he avoided the customers, billing and the company promotion

So here the boss is stuck in the production oriented as he full focused on improving the products so that he could produce the high quality products by applying the innovation

Therefore the correct option is A.

8 0
2 years ago
Other questions:
  • Ou buy 6 pounds of apples for $33. what is the cost of 10 pounds of apples?
    7·1 answer
  • In 2018, Bratten Fitness Company made the following cash purchases:
    12·1 answer
  • In a capitalist, market, or free-enterprise economy, which of the following answers the three basic economic questions?
    15·1 answer
  • A scientist needs 80 liters of a 30% solution of alcohol. She has a 20% solution and a 60% solution available. How many liters o
    7·1 answer
  • The Sports Warehouse operates in two distinct segments; equipment and apparel. The income statements for each operating segment
    13·2 answers
  • Sam has recently found out that prices from his manufacturer will be increasing the variable cost by $40 when it used to only be
    13·1 answer
  • Which of the following is an example of institutional advertising?
    8·2 answers
  • Buying Paint April is at the hardware store and must decide whether to buy paint in 11 individual quart cans or to buy it in bot
    15·1 answer
  • 7.
    12·1 answer
  • Which sentence best completes the diagram?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!