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An item of plant was purchased for $100,000 on 1 January 2009. At that time its estimated residual value was $5,000. At 31 December 2009 prices, the residual value was estimated at $5,200. By 31 December 2010 this had risen to $5,500. In 2009 the asset was initially depreciated straight line over 40 years. Due to lower performance than expected, at 1 January 2010 the total useful life of the machine was revised to 30 years. No further revision to the useful life was necessary at 31 December 2010.
The entity uses the cost model for this class of assets. Depreciation adjustments are made annually as part of the year end process.
Requirement
Determine the carrying amount of the plant at 31 December 2010.
Extract the term structure of interest rates out to 3 years given the following bond data: Maturity (yrs) Coupon rate (%) Yield to maturity (%) 0. 5
Q. Evaluate Equivalent annual cost? There are a number of techniques to answering this question and two are presented. The first difficulty is in deciding which broad approach
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
The balance sheet and income statement for Bingle Ltd is presented to you as follows: Balance Sheet Extract as at 30 June 2012 with comparatives
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
inventory ratio of 4 compared to 7.1
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Illustration of Retirement of a partner A, B and C have been trading as equal partners having capital contributions of £500,000 and £400,000 and £300,000 respectively as at 1st
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