Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Point 1: Mundial Mines Ltd acquired a new sand processing plant on 1st July 2017 for cash at a cost of $125,000. The firm paid in cash additional transportation and insurance costs of $50,000 and an extra $40,000 in cash for a team of experts to construct and test the plant prior to use.
Point 2: The plant is expected to have a useful life of 200,000 cubic meters of sand and have a scrap (residual) value of $50,000. In the first year the plant produced 60,000 cubic meters of sand and in the second year 40,000 cubic meters.
Point 3: Mundial Mines sells the plant for cash on the 1 July 2019 for $151,250.
Required:
Question 1: Record the general journal entries in the template provided below for the purchase, depreciation for years 1 & 2, and the sale of the sand processing plant in the accounts of Mundial Mines Ltd (no narrations/descriptions required, DO NOT consider GST).
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd