APM provides the following note to non-current assets in its statement of financial position. Plant and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
APM provides the following note to non-current assets in its statement of financial position. Plant and machinery Opening balance Additions/charge Disposals (10) Closing balance 30 Cost $000 25 15 A. $9,000 B. $11,000 C. $13,000 D. $15,000 Depreciation $000 12 4 (8) 8 Net book value $000 13 11 The additional machinery was purchased for cash. A machine was sold at a profit of $2,000. What is the net cash outflow for plant and machinery? (2) 22 APM provides the following note to non-current assets in its statement of financial position. Plant and machinery Opening balance Additions/charge Disposals (10) Closing balance 30 Cost $000 25 15 A. $9,000 B. $11,000 C. $13,000 D. $15,000 Depreciation $000 12 4 (8) 8 Net book value $000 13 11 The additional machinery was purchased for cash. A machine was sold at a profit of $2,000. What is the net cash outflow for plant and machinery? (2) 22
Expert Answer:
Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Posted Date:
Students also viewed these accounting questions
-
Dougald Construction Ltd. borrowed $250,000 from TD Bank on October 1, 2014, for a nine-month period; 5% interest is payable at maturity. Both companies have a December 31 year end and make adjusting...
-
Dougald Construction Ltd. borrowed $250,000 from TD Bank on October 1, 2017, for a nine-month period; 5% interest is payable at maturity. Both companies have a December 31 year end and make adjusting...
-
Dougald Construction Ltd. borrowed $250,000 from TD Bank on October 1, 2011, for a nine-month period; 5% interest is payable at maturity. Both companies have a December 31 year end and make adjusting...
-
Which of the following is not true regarding a promissory note? a. Promissory notes may not be transferred to another party by endorsement. b. Promissory notes may be sold to another party. c....
-
What is a cash advance? How are they commonly obtained? Discuss interest rates and grace periods with regard to cash advances.
-
How can firms use transfer prices and tax havens to reduce their corporate income tax bills? What do governments do in response?
-
On January 1,2010, you borrowed $10,000 on a five-year, 8% note payable. At December 31,2010, you should record a journal entry that includes which of the following? a. Note Payable of $10,000 b....
-
Large Land Photo Shop has asked you to determine whether the companys ability to pay current liabilities and total liabilities improved or deteriorated during 2015. To answer this question, you...
-
On March 1, 2024, Beldon Corporation purchased land as a factory site for $61,000. An old building on the property was demolished, and construction began on a new building that was completed on...
-
REPCO performs warranty repair work for name-brand kitchen appliances. REPCO bills appliance manufacturers on a costplus basis. It has a job-costing system that computes the cost of each order by...
-
What is the relationship between climate justice and sustainability, and how can policies ensure that the transition to a sustainable future does not exacerbate existing social inequalities ?
-
A biorefinery produces 94 million gallons of ethanol per year from corn grain. It can produce 2.9 gallons of ethanol from every bushel. How many acres of corn (assuming an average yield of 173...
-
" In her 2 0 1 2 chapter on Critical Thinking and Reasoning, Terri Russ defines critical thinking as 'active thinking in which we evaluate and analyze information in order to determine the action. '...
-
Find all the "daffodil numbers" between 100 and 999 and output them. "Daffodil number" refers to a three-digit number, and the cube of each digit is exactly equal to the number itself. For example,...
-
The following data refers to the results of the inspection of shirts in a factory. No. of Shirts No. of Imperfections Bundle No. 1 1234 2 4 5 15 15 15 15 15 5 3 10 8 18 The number of imperfections in...
-
Assume that P = Tshs 1 0 0 , 0 0 0 , i = 1 2 % , and n = 3 years. Find FV when interest is compounded: ( a ) annually
-
5. A grade 11 math student sees children are playing on a teeter totter and notices that the motion is periodic. He asks their permission to take measurements for a class assignment. The minimum...
-
Cassandra Casey operates the Futuristic Antique Store. She maintains subsidiary ledgers for accounts payable and accounts receivable. She presents you with the following information for October 2019:...
-
List the differences between IFRS and ASPE related to the definition of financial statement elements.
-
The following shareholders' equity accounts are reported by Branch Inc. on January 1: Common shares (unlimited authorized, 150,000 issued)..................................$2,400,000 Preferred shares...
-
On December 31, 2016, Asaad Corporation had the following shareholders' equity accounts: ASAAD CORPORATION Balance Sheet (partial) December 31, 2016 Shareholders' equity Common shares (unlimited...
-
The beam is made from a plate that has a constant thickness \(t\). Determine the width \(w\) as a function of \(x\) so that it has a maximum bending stress \(\sigma_{\max }\) throughout its length...
-
The beam has a constant thickness \(b\). If it supports the distributed loading shown, determine the maximum bending stress \(\sigma_{\max }\) in the beam. ho 22 -- Wo 2ho I ho 22
-
The beam is made from a plate having a constant thickness \(t\) and a width that varies as shown. If it supports a concentrated force \(\mathbf{P}\) at its center, determine the absolute maximum...
Study smarter with the SolutionInn App