Question: Can someone help me with this please :) On 1 July 2014, Capers Ltd purchased equipment with cash for a total cost of $224,400 Including

 Can someone help me with this please :) On 1 July

2014, Capers Ltd purchased equipment with cash for a total cost ofCan someone help me with this please :)

On 1 July 2014, Capers Ltd purchased equipment with cash for a total cost of $224,400 Including 10% GST. The estimated useful life of the equipment was 10 years, with an estimated residual value of $17,000. The entity's reporting period ends on 30 June, and it uses straight-line depreciation. On 1 July 2016, the entity revalued the equipment upwards by $15,000 to reflect the fair value. The revised useful life was 8 years and residual value was estimated at $8,000. On 1 January 2018, Capers Ltd revalued the equipment downwards by $18,300 to reflect the fair value. (a) Prepare the journal entries in relation to the equipment from the date of acquisition. (Enter debit entries first followed by credit entries. Credit account tities are automatically indented when the amount is entered. Do not indent manually.) Capers Ltd General Journal Debit Credit Date Account and explanation $ $ 1/7/14 Equipment 204000 GST paid 20400 Cash 18700 18700 30/6/15 Depreciation expense Equipment 30/6/15 Depreciation expense 18700 v 18700 Equipment 18700 1/7/16 Equipment Revaluation surplus (To record equipment at carrying value before revaluation) (To record revaluation) 30/6/17 Depreciation expense V 22700 Equipment v 22700 1/1/18 Depreciation expense 11350 V 11350 Equipment (To record depreciation expense) 1/1/18 Revaluation surplus (To record equipment at carrying value before revaluation) Equipment (To record revaluation) Click If you would like to show Work for this question: Open Show Work (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Capers Ltd General Journal Date Account and explanation Debit $ Credit $ 1/7/14 Equipment 204000 GST paid 20400 Cash V 18700 30/6/15 Depreciation expense V 18700 Equipment v 18700 30/6/16 Depreciation expense 18700 Equipment 18700 1/7/16 Equipment V Revaluation surplus (To record equipment at carrying value before revaluation) 30/6/1 22700 22700 1/1/1 11350 11350 1/1/1 uation) Accumulated amortisation franchise Accumulated amortisation patents Accumulated depreciation-computer Accumulated depreciation equipment Accumulated depreciation-machinery Accumulated depreciation-truck Accumulated impairment loss Amortisation expense Cash Computer Delivery truck Delivery Depreciation expense Equipment Franchise Tollected GST collected GST paid " wand Impairment loss Loss on disposal Loss Loss on scrapping Machinery Patents Patents Research and development expense Revaluation expense Revaluation surplus Click on: Open Show Work Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER (61 The pa ils part will be available when you complete the part above

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