User Account

All Pages

What value should be used for the asset in Chester statement

Assignment Help Financial Accounting
Reference no: EM132882223

Question - Chester Ltd has an asset that was classified as held for sale at 31 March 2021. The asset had a carrying value of £1000 and a fair value of £900. The cost of disposal was estimated to be £100. The useful economic life of the asset was 10 years.

According to IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, what value should be used for the asset in Chester's statement of financial position as at 31 March 2021?

Reference no: EM132882223

Questions Cloud

Strategy and human resources planning : Human Resource Planning (HRP) is a systematic process that involves forecasting the demand for labor, performing supply analysis, and balancing supply and deman
How many units would the company need to sell : Using the projected monthly income figure calculated above, how many units would the company need to sell to meet the initial monthly income figure
Create the guidebook for transgendered employees : Some employee rights are statutory, while others are contractual. When considering the initiative by Public Works to create the guidebook for transgendered
Discuss six core competencies required of HR professionals : Discuss the six core competencies required of HR professionals. Identify how these competencies are also embedded in the roles of line managers
What value should be used for the asset in Chester statement : According to IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, what value should be used for the asset in Chester's statement
Explain the recognition of the revenue for CKB : Explain the recognition of the revenue for CKB on the agreement with Maju Bhd in accordance to MFRS 15. Your answer should discuss the basis on the recognition
What is the effective interest rate of the loan : The negotiated loan requires a 20% compensating balance. What is the effective interest rate of the loan
Explain performance appraisal process : Suppose you work for a company whose performance appraisal process is used to fulfill more than one purpose. Share your views on whether this process fairly mea
What is the corrected net income : The audit of the records revealed that ending inventory of 2013 was understated by 500,000. What is the corrected net income for 2014

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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