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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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Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 42 cents per mil
geniusboy [140]

Answer:

Break even in miles = 8800 miles per year

Explanation:

The break even in units is the number of units that must be sold in order for the total revenue to be enough to cover total costs or in order for the total revenue to be equal to the total costs.

In the given scenario, the units are miles driven and the break even in units will be the number of miles to be driven to cover total costs.

The formula for break even in units is as follows,

Break even in units = Fixed costs / Contribution margin per units

Where,

Contribution margin per units =  Revenue per unit - Variable cost per unit

Contribution margin per units = 0.42 - 0.17

Contribution margin per units = $0.25 per mile

Break even in miles = 2200 / 0.25

Break even in miles = 8800 miles per year

8 0
3 years ago
What is the difference between the production and the distribution of an
erastova [34]

Answer:

C. One deals with the creation of an item; the other deals with the transportation of the item from where it was made to where it will be sold.

Explanation:

3 0
4 years ago
Shareholders are sometimes referred to as disenfranchised, or having synthetic ownership . What does this mean
artcher [175]

When shareholders are referred to as disenfranchised or having synthetic ownership it means that the shareholders while owning the majority stock have the real right in selling the stock and not in possession.

<h3>What is disenfranchised or synthetic ownership of stock?</h3>

Disenfranchise or synthetic ownership means that shareholders do not own the underlying stock but have the right to sell, thereby providing them with consistent cash flows.

Thus, when shareholders are referred to as disenfranchised or having synthetic ownership it means that the shareholders while owning the majority stock have the real right in selling the stock and not in possession.

Learn more about stock ownership at brainly.com/question/25818989

3 0
3 years ago
Consider an economy that produces only DVDs and DVD players. Last year, 10th DVDs were sold at $20 each and 5 DVD players were s
trapecia [35]

Real GDP this year using last year as the base year is

B) $700

Explanation:

  • Last year, 10th DVDs were sold at $20 each and 5 DVD players were sold at $100 each, while this year 15 DVDs were sold at $10 each and 10 DVD players were sold at $50 each. Real GDP this year using last year as the base year is  $700.
  • Gross Domestic Product (GDP) is the monetary value of all finished goods and services made in a country during a specific period of time.
  • The Gross Domestic Product calculates the real value of economic activity within a country.
  • GDP is a number that shows the net worth of the output of a country in local currency.
  • It represents the value of all goods and services produced in a specific time period within a country's borders.
  • Gross domestic product (GDP) is the total value of everything produced in a country.

8 0
4 years ago
Elena, who is Hispanic, was told by the personnel director that she did a great job at the interview but that he couldn't hire h
qaws [65]

Answer:

Adverse impact

Explanation:

Adverse impact -

It refers to the aftereffect of any unfair or discrimination of the basis of race , age , gender , religion , educational qualifications , status etc , is referred to as adverse impact .

In the process of hiring in a company or organisation , any discrimination in terms of gender , educational qualification etc. , is very commonly seen , hence is referred to as adverse impact .

As in the given scenario of the question ,

The correct answer is adverse impact .

8 0
3 years ago
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