Solution-Which amounts must be recorded as depreciation for

Which amounts must be recorded as depreciation for year

Assignment Help Financial Accounting

Reference no: EM132658185

Problem 1: Which of the following is not an example of an intangible asset:

A) Computer software

B) Computer hardware

C) Patents and trade marks

D) Goodwill

Problem 2: Machinery with a capitalized cost of R260 000 was bought on 30 April 2018 and was ready for use on that day. However the machine was put to use on 1 June 2018.The estimated useful life of the machine if 5 years ad the estimated residual value if R20 000.If we use the straight line method. The amount of depreciation recorded for this machine on 31 December2018.the financial year end would be:

A) R 28 000

B) R 32 000

C) R 24 000

D) R 26 000

Problem 3: Consider the information provided in 1.8 above about the machine purchaed on 30 April 2018.Assume the machine was put into use on the day of purchase and that we use the reducing balance method at a depreciation rate of 30% pre year, which of the following amounts must be recorded as depreciation for the year ended 31 December 2019?

A) R 62 400

B) R 52 400

C) R 64 350

D) R 59 400

Problem 4: An underwriter

A) Deregisters debentures and shares

B) Writes the footnotes at the bottom of the statement of the financial position

C) Insures against under subscription of shares and debentures.

D) Insures against over subscription of shares and debentures

Reference no: EM132658185

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Which amounts must be recorded as depreciation for year

Reference no: EM132658185

Reference no: EM132658185

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