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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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Some have believed that emotional intelligence (EQ) is a better predictor for success then a general intelligence (IO). Do you b
son4ous [18]
I believe it really depends on the situation. When you are looking for a job, I think that IQ is definitely more important because you have to show your skills and knowledge. But once you've landed the job, everyone around you will have more or less the same IQ level as you. So this is where EQ comes into the picture. Not all people in your workplace will have the same EQ which means that it can have a significant effect on your success within your company, and afterwards, in life.
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3 years ago
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Which of the following influences quantity demanded and varies moving along a demand curve?
jek_recluse [69]

The price of the good impact the quantity demanded and changes when the demand curve moves.

The following information should be considered:

  • The demand curve shows two things i.e. price of the good and the quantity demanded.
  • The price should be shown on the vertical axis and the quantity demanded shown on the horizontal axis.

Therefore all other options are incorrect.

Hence, we can conclude that the price of the good impact the quantity demanded and changes when the demand curve moves.

Learn more about the demand curve here: brainly.com/question/21220153

8 0
3 years ago
__________ means that managers are honest and trustworthy, fair in their dealings with employees and customers, and behave ethic
iragen [17]

Answer:

ethical leadership

Explanation:

Ethical leadership is a leadership style that focuses on the respect for ethical values, employees' dignity and the overall rights of everyone related to the organization, including those who work at it, its customers, and related community.

Ethical leadership emphasizes personal values such as trust, honesty, empathy, fairness, etc.

3 0
3 years ago
Case: Keller v. Central Bank of Nigeria
Nesterboy [21]

Answer:

1.Parties [Identify the plaintiff and the defendant] - The plaintiff is Henry Keller of H.K.Enterprises and the defendant is Bank of Nigeria and Nigerian individuals Central Bank of Nigeria, Paul Ogwuma, ?Alhaji Rasheed, Alhaji M.A. Sadiq.

2.Facts [Summarize only those facts critical to the outcome of the case] - The case was filed by Keller against the defendants in United States. The case was filed under Racketeer Influenced and Corrupt Organizations Act (“RICO”) as the plaintiff found himself a victim of fraud and financial scam.The scam occured when one of the defendants approached the plaintiff who was the sales representative of medical equipments for granting him the distribution rights for Nigeria. The expected amount of money was not transferred in the account of plaintiff inspite of his attempts of meeting the requirements of the defendants. The defendants acted on the behalf of Central Bank of Nigeria and as Nigerian individuals.

3.Procedure [Who brought the appeal? What was the outcome in the lower court(s)?] - The appeal was filed by the defendants Central Bank of Nigeria,?Paul Ogwuma, Alhaji Rasheed, Alhaji M.A. Sadiq. The lower court gave the decision that the claims of fraud and misrepresentation do not hold against the defendants as the plaintiff entered into an arrangement with them which is not legal and as per the rules. However the lower court ruled that immunity cannot be given under FSIA to the defendants as the commercial activity is an exception and claims for violation of RICO are applicable on them.

4. Issue [Note the central question or questions on which the case turns] - The case turns on the appeal of defendants to be granted immunity under Foreign Sovereign Immunities Act. The ruling indicated that the defendants have sovereign authority. Also, the commercial activity clause did not apply in this case as the activity was not done in United States and did not meet the legal standards of a commercial activity.

5.Explain the applicable law(s). - Applicable laws are Common law fraud, violations of RICO(Rackteer Influenced and Corrupt Organizations Act), Misrepresentation.

6.Holding [How did the court resolve the issue(s)? Who won?] - The court resolved the issue by giving a decision in the favor of defendants by ruling that immunity is given to Foreign nationals under FSIA and dismissed any claims filed against them under RICO.

7.Reasoning [Explain the logic that supported the court's decision] - The logic supporting the court's decision is that the arrangement between the plaintiff and defendants including the signed contract was not as per the laws and rules and was not legally compliant. Moreover the commercial activity was out of bounds for United states so the exception to FISA is not applicable. The defendants claimed that they did not enter into the contract with the plaintiff.

Explanation:

5 0
4 years ago
What is collateral?
fenix001 [56]

Answer:

C. An asset or group of assets that are linked to a loan

Explanation:

Collateral is something the bank can take/repossess to sell and get back the money they loaned you if you don't repay your loan. Cars and houses are great examples of this.

7 0
3 years ago
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