Fixed assets () Peka - Peka Ltd. is a private company. The company was established on 11.2014.
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Fixed assets () "Peka - Peka" Ltd. is a private company. The company was established on 11.2014. The following are data about the details of the company's fixed assets: 1. Velvet machine On 1.1.2014 the company purchased a velvet machine at a cost of NIS 100,000 The costs of transporting the machine from the manufacturer and installation amounted to NIS 10,000. Import and customs taxes amounted to NIS 35,000.
In the first year, the company required regular maintenance of the machine at NIS 13,000. The residual value of the machine was NIS 25,000. On July 1, 2014, the machine was available. The management and at that time the machine began to operate. The life of the machine is 7 years and it is reduced in a straight line. The furniture has no residual value and is reduced in a straight line, the reduced cost of the furniture as of December 31, 2014 is 70,000. On January 1, 2015, the company believed that it was more appropriate to reduce the property according to the declining number of years method.
Required:
Record diary orders The fixed property building for the years 2014 and 2015, including diary orders In respect of the sale of the furniture.
Related Book For
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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