(Question 6) 6. Referring to information of Awantec Sdn. Bhd. in question 5. Due to the...
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(Question 6) 6. Referring to information of Awantec Sdn. Bhd. in question 5. Due to the new marketing strategies which focused on potential customers in various new region, Awantec Sdn. Bhd. on 31 December 2019 starting to receive new long-term large orders of its product from new customers. This eventually led the company to reassess the recoverable amount of machine Z-tec and thus provide a new estimate of RM1,100,000. Required to prepare: The relevant journal entries in the book of Awantec Sdn. Bhd. from the year 2018 until 2020 in regards to the machine owned. (Notes: The company accounted for its asset using revaluation model and made the annual transfer from revaluation reserve to retained earnings.) (20 marks) (Question 6) 6. Referring to information of Awantec Sdn. Bhd. in question 5. Due to the new marketing strategies which focused on potential customers in various new region, Awantec Sdn. Bhd. on 31 December 2019 starting to receive new long-term large orders of its product from new customers. This eventually led the company to reassess the recoverable amount of machine Z-tec and thus provide a new estimate of RM1,100,000. Required to prepare: The relevant journal entries in the book of Awantec Sdn. Bhd. from the year 2018 until 2020 in regards to the machine owned. (Notes: The company accounted for its asset using revaluation model and made the annual transfer from revaluation reserve to retained earnings.) (20 marks)
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6 Journal Entries Depreciation for the year ended 31122018 ... View the full answer
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
Posted Date:
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