A company acquired a chargeable asset for 2,000 in April 1980 and sold the asset for 22,500
Question:
A company acquired a chargeable asset for £2,000 in April 1980 and sold the asset for £22,500 in September 2020. Compute the unindexed gain arising on this disposal if the market value of the asset at 31 March 1982 was:
(a) £4,200
(b) £500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
a The unindexed gain over the entire period of ownership based on the original cost of the as...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Develop a Presentation Layer ER model for the University Registration System (UNIVREG). The ERD should be fully specified with the unique identifiers, other attributes for each entity type, and the...
-
GLOBAL ADVERTISEMENT SPENDING US$503 BILLION IN 2013 7.0% 8.5%, 18.7% 2012 0.6% 6.9% 18.3% Share of global advertisement spend by medium (%) 2015 0.6% 40.0% Television Internet Newspapers Magazines...
-
An investor wishes to invest $10,000 for the coming year and anticipates that the market will be in one of four different states at the end of the year. These states affect her investments in each of...
-
What are the three shapes of periodic signals a function generator can produce?
-
Would you argue that the traditionalist political sub-culture is still dominant in Texas or has there been a change? Assess how the Traditionalist political sub-culture dominates (or not) Texas and...
-
A moving cart collides with an identical cart initially at rest on a low-friction track, and the two lock together. What fraction of the initial kinetic energy of the system remains in this totally...
-
Recall that Life Fitness had estimated \($1,000,000\) of MOH for the year and 62,500 DL hours, resulting in a predetermined MOH rate of \($16/DL\) hour. By the end of the year, the company had...
-
On January 1, 2011, a machine was purchased for $900,000 by Floyd Co. The machine is expected to have an 8-year life with no salvage value . It is to be depreciated on a straight-line basis. The...
-
8.The following data is available: Country Y currency Dollar Country X currency Peso Country Y interest rate 1% per year Country X interest rate 3% per year Country X expected inflation rate 2% per...
-
Calculate the chargeable gain arising on the disposal described in the above example. RPIs are 79.44 for March 1982 and 278.1 for December 2017. Data from Above example. A company acquired a...
-
A company acquired a chargeable asset for 5,000 in February 2004 (RPI 183.8). The asset (not a chattel) was sold in January 2021. The RPI for December 2017 was 278.1. Compute the chargeable gain or...
-
Finding Financial Information Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Required: 1. Unlike most companies, Urban Outfitters does not report...
-
Quiz 5 i 7 Mc Graw Hill 02-52-15 Type here to search Multiple Choice Operational control has a management-by-exception approach in contrast to management control, which is more consistent with: C A...
-
What is Evolution of Operating Systems? Explain
-
Assuming that we can change a person's attitude about a brand by 1) changing whether they think an important attribute of the brand is bad or good, 2) changing the weight given to an attribute or...
-
Calculate Company Mann's WACC Data Long term Debt 500 Cost of Debt Accounts Payable 100 Book Value of Equity 900 Cost of Equity WACC Risk Free Rate 3% Market Cap 700 Yield on Debt 8% Market Risk...
-
A company's bond has an annual coupon rate of 4 % . The bond pays coupons semiannually and has a par value of $ 1 , 0 0 0 . The bond matures in 6 years. What is the percentage ( % ) yield to maturity...
-
What went wrong with this bankruptcy case?
-
A heat engine has a heat input of 3 Ã 104 Btu/h and a thermal efficiency of 40 percent. Calculate the power it will produce, in hp. Source 3 x 10 Btu/h 40% HE Sink
-
Brian and Danny are civil partners. They were both born in 1974 and they both claim the basic personal allowance for 2017 -18. Brian's total income for 201 7-18 is 25,000 and Danny's total income for...
-
Toby is a widower. He was born in August 1932. His wife was born in June 1933 but she died in March 2017. Toby's income for 2017-18 is as follows: 10,480 912 Retirement pension Income from purchased...
-
the information shown below. No elections have been made in relation to the married couple's allowance and none of the income is derived from savings or dividends. (a) Married in 1956; husband's...
-
8-25. The crate has a weight of W = 150 lb, and the coefficients of static and kinetic friction are , = 0.3 and k 0.2, respectively. Determine the friction force on the floor if 30 and P=200 lb. = =...
-
ww A 40 lb unform rod AC of length l = 2 ft is attached to a spring of constant k = 5 lb/in at a distance of a = 1.5 ft from a pin a C. (a) If the rod were rotated by a small angle 0 about the...
-
Problem 2: Use Lagrangian method and find the equations of motion for the following 3-DOF system: (t) 2(t) x3(t) C1 C2 C3 C4 + M M2 M ww ww ww K2 K3 (0 f(t) C5 -ww- K5
Study smarter with the SolutionInn App