Adelaide ltd acquired a machine on 1 july 2007 at a cost of

Assignment Help Accounting Basics

Reference no: EM13603188

Adelaide Ltd acquired a machine on 1 July 2007 at a cost of $100,000. The machine has an expected useful life of 5 years, and the company adopts the straight line basis of depreciation
Adelaide Ltd measures the machine at fair value. Movements in fair values are as follows:

30 June 2008 $85,000 Remaining useful life: 4 years
30 June 2009 $60,000 Remaining useful life: 3 years
30 June 2010 $45,000

The company has a financial year ends on 30 June.

Required: Provide the journal entries used to account for this machine for all the relevant years ending 30 June, showing all necessary workings.

Reference no: EM13603188

Questions Cloud

The specific volume of the gas remains constant from state : consider a cylinder filled with an ideal gas and fitted with a piston. a on p-v coordinates sketch a process in which

April and may formed a partnership on january 1 2011 april : april and may formed a partnership on january 1 2011. april contributed 180000 cash and equipment with a market value

A flat metal washer is heated as the washers temperature : a flat metal washer is heated. as the washers temperature increases what happens to the hole in the center? a flat

Assuming approximately normal distributions having equal : a sample of four tires is taken from a lot of brand-a tires. another sample of four tires is taken from a lot of

Adelaide ltd acquired a machine on 1 july 2007 at a cost of : adelaide ltd acquired a machine on 1 july 2007 at a cost of 100000. the machine has an expected useful life of 5 years

What is the point estimate of the population mean planting : you run a landscaping company and need to know the average time it takes to plant anbspnbspnbsplarge tree for

Determine the final pressure 8 b was the compression : the adjoining figure illustrates a piston-cylinder arrangement. this cylinder contains helium at 21oc and 1.379 mpa.

Using incremental analysis determine whether sy telc should : sy telc has recently started the manufacture of recrobo a three-wheeled robot that can scan a home for fires and gas

The prepaid insurance account had a beginning balance of : the prepaid insurance account had a beginning balance of 5000 and was debited for 2000 of premiums paid during the

User Account

All Pages