The following non-current assets are purchased: Depreciation is to be charged on equipment at the rate of
Question:
The following non-current assets are purchased:
Depreciation is to be charged on equipment at the rate of 25% on cost and is provided on a proportionate basis.
Show the provision for depreciation of equipment account for the years ended 31 December 2012–2014.
Transcribed Image Text:
2012 2013 2014 May 1 Jan 1 Mar 31 Equipment Equipment Equipment 3,000 2,000 4,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Provision for depreciation of equipment 2012 Dec 31 Balance ...View the full answer
Answered By
Simon kingori
I am a tier-one market researcher and content developer who has been in this field for the last six years. I’ve run the freelancing gamut; from market research, data mining and SEO/SMM to copywriting, Content Development, you name it, I’ve done it. I’m extremely motivated, organized and disciplined – you have to be to work from home. My experience in Freelancing is invaluable- but what makes me a cut above the rest is my passion to deliver quality results to all my clients- it’s important to note, I've never had a dissatisfied client. Backed by a Masters degree in Computer Science from MOI university, I have the required skill set and burning passion and desire to deliver the best results for my clients. This is the reason why I am a cut above the rest. Having taken a Bsc. in computer science and statistics, I deal with all round fields in the IT category. It is a field i enjoy working in as it is dynamic and new things present themselves every day for research and exploration.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
Question Posted:
Students also viewed these Business questions
-
AXA Ltd has recently decided to expand the range of products. To produce a new product, the company will need to purchase a new machine. This machine will cost 400,000 and last for four years, at the...
-
Yeates Ltd has the following balances on its accounts in respect of machinery and its depreciation: 31 December 2011: Machinery 21,000, Provision for depreciation of machinery 8,600. The firm then...
-
After 1 0 0 0 B . C . E . trade in Greece allowed for the accumulation of wealth by Kings Aristoi Farmers Foreigners
-
What are the major problems facing the world today? What is being proposed to solve them?
-
Why does the IRS place limits on lease provisions?
-
In general how have interest rates changed since the late 1980s according to Figure 11.1? FIGURE 11.1 Interest and Inflation Rates, 1988-2010 10p Rate (%) 8 6 10-Year Treasury Bonds 4 2 AAA Corporate...
-
Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed...
-
As an example of how simulation can be used for operations research, consider the following college enrollment model. A certain college wants to analyze the effect of admissions and freshman...
-
Pierce Ltd makes the following purchases of machinery: All machinery is to be depreciated at 10% on cost on a monthly basis. Show the provision for depreciation of equipment account for the years...
-
Equipment is purchased on 30 June 2013 for 15,000 and is to be depreciated at 25% on cost on a monthly basis. Show the provision for depreciation of equipment account for the years 2013, 2014 and...
-
Referring to Problem 16-61, the managers of DataNet, the Internet company through which users can purchase products like airline tickets, need to forecast monthly call volumes in order to have...
-
A rod is measured to be exactly 23.10 cm long using a steel ruler at a temperature of 23.0C. Both the rod and the ruler are placed in an oven with a temperature of 253.0 C where the rod now measures...
-
Provide an example of an appropriate use of public relations in case of IUB.
-
A recreational (open) hot air spherical balloon has a radius of 7.30 m when fully inflated. What is the buoyant force on the balloon? The density of surrounding air is 1.293 kg/m. Enviar Respuesta...
-
Starting from rest at t = 0 s, a wheel undergoes a constant angular acceleration. When t = 2 s, the angular velocity of the wheel is 4.8 rad/s. The acceleration continues until t = 19 s, when the...
-
Provide suggestions on change management techniques. Review at least 3 articles describing Change Management. Think out of the box, and propose innovative ways of managing change. Conclusion: Briefly...
-
The 9-kg rod AB is attached by pins to two 6-kg uniform disks as shown. The assembly rolls without sliding on a horizontal surface. If the assembly is released from rest when = 60?, determine? (a)...
-
Explain the circumstances that could result in a long-term bank loan being shown in a statement of financial position as a current liability.
-
On 31 March 2019, Dixies business traded-in a machine (a Z-15 model) which it had originally purchased on 1 April 2016 for 19,000. Dixie had depreciated the Z-15 at 10 per cent per annum using the...
-
Contractors Ltd was formed on 1 January 2019 and the following purchases and sales of machinery were made during the first 3 years of operations. Each machine was estimated to last 10 years and to...
-
Please answer the following three questions: (a) Jacks business has a financial year end of 31 May. He bought an item of plant for 225,000 on 1 June 2022 and estimated its useful life to be six years...
-
For this assignment, use your analysis of the brand's current digital media presence to develop the framework for a new digital campaign. For your new campaign, describe relevant research methods,...
-
The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda Adams Fergie Gomez Total capital $200,000 180,000 170,000 160,000 $710,000 S Answer each of the...
-
Analyze a current content marketing campaign. Make a post in Mahara on the following: A) Choose any brand that is currently engaged in content marketing. While you are free to choose any brand, it's...
Study smarter with the SolutionInn App