Cumulative catch-up method, Taxation

Assignment Help:

Mann Limited purchased machinery  on 1 January 20.9, on which date it was estimated to have a useful life of 5 years and a nil residual value. The carrying amount on 31 December 20.10 was:

Cost (1/1/20.9)                                                                                         R500 000

Accumulated depreciation                                                                          R200 000

Net carrying amount (31/12/2010)                                                             R300 000

On the 1/1/20.11, the remaining economic useful life was estimated to be 2 years.

REQUIRED

Disclose the change in estimate using the re-allocation method.

Disclose the change in estimate using the cumulative catch-up method.


Related Discussions:- Cumulative catch-up method

Tax Individuals , Hi Dear, Could you please help me with lots of assignmen...

Hi Dear, Could you please help me with lots of assignments in Tax Individuals within 2 hours. That mean I will send you my questions and the experts will solve the questions with

Qualified residence interest, Several years ago, Magdelena purchased a new ...

Several years ago, Magdelena purchased a new residence for $300,000. Currently, the outstanding mortgage on the residence is $260,000. The current fair value of the home is $330,00

Determine net operating loss carryover, Good Health Company Inc. began busi...

Good Health Company Inc. began business in 2007 and has operating results as listed below. In 2009 & 2010 it generated net operating losses of $75,000 and $120,000 respectively. Th

Tax return.., need help with tax return assignment

need help with tax return assignment

Accounting for income taxes, Gustav Ltd commenced operations on 1 July 2011...

Gustav Ltd commenced operations on 1 July 2011 and presents its first statement of comprehensive income for the year ending 30 June 2012 and first statement of financial position a

General deductions question, Simon works as a chiropractor for a small part...

Simon works as a chiropractor for a small partnership of three other professionals who employ him to work in the office four days each week. Simon earns over $90,000 per year. Eac

Calculate the taxable income under the throwback rule, This year, the Coral...

This year, the Coral Company Inc. generated $650,000 from its routine business operations. In addition, it sold the following assets, all of which were held for more than 12 months

Us tax questions, zainab ali -  i uploaded the questions that i want u...

zainab ali -  i uploaded the questions that i want u to solve it . please let me know how much is it and then i will download the details ..  also please i want U.S. tutoring

Service tax, there is significant difference between the average service ta...

there is significant difference between the average service tax collection per assessee in Pune zone and the average service tax collection per assessee in the country

Write Your Message!

Captcha
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!

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