User Account

All Pages

Prepare the adjusting journal entries

Assignment Help Accounting Basics
Reference no: EM133024141

Question - R Ltd manufactures items of machinery. On 1 Jan 2020, T Ltd, a subsidiary of R Ltd acquired an item of machinery from R Ltd and recognises it as property, plant and equipment (PPE). This item of machinery was sold to T Ltd for $65,000 but it took R Ltd only $50,000 to manufacture. T Ltd depreciates its PPE at the rate of 10% on cost. In relation to this intra-group transaction, prepare adjusting journal entries for the consolidation worksheet at 30 June 2020. Assume tax rate of 30%.

Reference no: EM133024141

Questions Cloud

Overcome the challenges you face when prospecting : What support do you need from your manager/the company to overcome the challenges you face when prospecting?
Determine the maximum tons of sewage per hour : The graph in Figure 5.38 represents various flows that can occur through a sewage treatment plant with the numbers on the arcs representing the maximum flow (in
Intermediary to act as third-party intermediary : It was designed to permit two parties to conduct an online transaction without having to rely on an intermediary to act as a third-party intermediary
Which of the supervisory techniques were effective : -Why do supervisors fail if they are using a "textbook" technique? Explain using the scenes from the movie Gladiator (2000 )MacDonald, L. (Producer), Scott, R.
Prepare the adjusting journal entries : T Ltd depreciates its PPE at the rate of 10% on cost. In relation to this intra-group transaction, prepare adjusting journal entries for consolidation worksheet
Determine the taxable recovery of accounts receivable : Accounts written off during the year 60,000 2019 recoveries on accounts receivable written off in 2018. Determine the taxable recovery of accounts receivable
Cloud computing : Describing how the knowledge, skills, or theories of this course have been applied or could be applied in a practical manner to your current work environment.
Pitt fitness database : Assume that you designed the field LengthOfTime in the Classes table in the Pitt Fitness database.
Current understanding of data mining : What is the definition of data mining that the author mentions? How is this different from our current understanding of data mining?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd