21. A&Co purchased a Packing Plant on 1st April 2020, with price of 1 million and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
21. A&Co purchased a Packing Plant on 1st April 2020, with price of 1 million and had to spend 400,000 on shipping and calibration, besides that they also had to spend 100,000 on installation. the plant was brought into use on 1st June 2020. It has estimated useful life of 5 years. The year end of the A&Co is 31st December. The plant was sold for 200,000 on 31- December 2023. What should be the net book value of plant as on 31- December 2023. * (3 Points) 450,000 250,000 300,000 Zero None of above 21. A&Co purchased a Packing Plant on 1st April 2020, with price of 1 million and had to spend 400,000 on shipping and calibration, besides that they also had to spend 100,000 on installation. the plant was brought into use on 1st June 2020. It has estimated useful life of 5 years. The year end of the A&Co is 31st December. The plant was sold for 200,000 on 31- December 2023. What should be the net book value of plant as on 31- December 2023. * (3 Points) 450,000 250,000 300,000 Zero None of above
Expert Answer:
Answer rating: 100% (QA)
Date Page Answer is Nove of the above In Accounting depriciatio... View the full answer
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
Posted Date:
Students also viewed these accounting questions
-
Equipment with a useful life of 5 years and a residual value of $6,000 was purchased on January 3, 2002 for $48,500. The machine was sold on January 5, 2007 for $13,000. (a) What is the book value of...
-
Problem 4 1. Fig. 2 is a solution of differential equation orde-2 with the initial condition y(0) = 1 and y (0) = 0. 0.5 1.5 2.5 3. 3.5 y(t) w(t) = e z(t) = -et 4 4.5 1 5.5 6 6.5 7 7.5 8 8.5 9 Fig.2...
-
You are the managing Director of Multiple (PTY) Ltd, a company based in Angola. Multiple is looking to penetrate the Botswanan market and decides to do this via the acquisition of an already...
-
Graph each inequality or compound inequality. 5x - y > 6
-
What does the contract curve in an Edgeworth production box signify? Why do competitive markets generate equilibriums that lie on the contract curve?
-
A fast-moving hockey player, of mass 85.5 kg, runs into a stationary player of the opposing team, of mass 91.3 kg. After the collision, the two players slide together on the ice at a speed of 1.44...
-
What is ITSM?
-
Ray and Maria Gomez have been married for 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social...
-
On June 1, Crane Company Ltd. borrows from Scotiabank on a 6-month, $32,800, 9% note. The note matures on December 1. Interest is due monthly starting July 1. Crane only prepares adjusting entries at...
-
Ramona and Hermione formed Wiley Corporation on January 2. Ramona contributed cash of $295,000 in return for 50 percent of the corporation's stock. Hermione contributed a building and land with the...
-
Batman (mass = 87.8 kg) jumps straight down from a bridge into a boat (mass = 422 kg) in which a criminal is fleeing. The velocity of the boat is initially + 10.9 m/s. What is the velocity of the...
-
How reasonable is it for every country to follow policies aimed at increasing net exports?
-
Why do teenagers have the highest unemployment rate in the economy?
-
Does the following statement make sense? You made a real blunder. The $600 you paid for repairs is worth more than the car.
-
Consider a flat plate moving across the surface of water with a velocity of \(5 \mathrm{~m} / \mathrm{s}\). The dimensions of the plate are \(2 \mathrm{~m} \times 2 \mathrm{~m}\). a. Calculate the...
-
Does the GDP gap measure all of the costs of unemployment? Why or why not?
-
Thomson Trucking has $ 2 0 billion in assets, and its tax rate is 3 0 % . Its basic earning power ( BEP ) ratio is 1 5 % , and its return on assets ( ROA ) is 4 % . What is its times - interest -...
-
Draw a Feynman diagram for the reaction n + v p + .
-
If an individual is considering selling his business to a daughter, does it make any difference to him whether that business is a proprietorship or is housed within a corporation?
-
At the end of last year, Ryan had a balance in his cumulative net investment loss (CNIL) account of $14,500. In the current year, Ryan earned net rental income of $5,000 and received eligible...
-
A trust had the following results for the current year: Capital gains$100,000 Capital losses 20,000 The trust has net capital losses of $35,000 incurred in 2006 available. Determine the maximum...
-
If the 3-in.-diameter short rod is made from brittle material having an ultimate strength of \(\sigma_{\text {ult }}=60 \mathrm{ksi}\), for both tension and compression, determine if the shaft fails...
-
If the 3-in.-diameter shaft is made from cast iron having tensile and compressive ultimate strengths of \(\left(\sigma_{\mathrm{ult}} ight)_{t}=40 \mathrm{ksi}\), and \(\left(\sigma_{\mathrm{ult}}...
-
The shaft consists of a solid segment \(A B\) and a hollow segment \(B C\), which are rigidly joined by the coupling at \(B\). If the shaft is made from A-36 steel, determine the maximum torque \(T\)...
Study smarter with the SolutionInn App