Sam agency bought machine costing $150000 on 1st April 2016 He writes off depreciation 10 p a on written down value method every year his books are closed on 31st march every year On 1st oct 2018 he disposed off machine for $90000 Give journal entries in the book of Sam agency till 31st March 2019...

Sam agency bought machine costing $150000 on 1st April 2016.He writes off depreciation @10% p.a on...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

South-Western Federal Taxation 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

See More Books

Posted Date: Jan 13, 2023 12:23 AM

See More Questions

In the book of Genesis, we see that God directed Joseph to save for the future. The Lord gave Joseph the interpretation to Pharaohs dream. There would be seven good years followed by seven years of...
1. Prepare the NECESSARY ADJUSTING JOURNAL ENTRIES in the book of SEQ repair services. 2. Prepare an ADJUSTED STATEMENT OF FINANCIAL PERFORMANCE ending September 30, 20CY. 3. Prepare an ADJUSTED...
Show motor car account under written down value method if the following information is available: i) Motor car cost Rs. 150,000 ii) Estimated life 5 years iii) Rate of depreciation 20% iv) Residual...
CASE STUDY 1: Facebook, Cambridge Analytica and Trump Scandal: Lessonfor Government, Business, Consumers and Voters. In early 2018, Facebook admitted to mishandling datafrom over 50 million Facebook...
1. Given: m = 64.0 kg v = 34.0 m/s r = 17.0 m F = _____ N 2. Given: m = 11.3 slugs v = 3.00 ft/s r = 3.24 ft F = _____ lb 3. Given: F = 2500 lb v = 47.6 ft/s r = 72.0 ft m = _____ slugs 4. Given: F =...
If x percent of 80 is 12, then x percent of what number is 18? A. 112 B. 115 C. 117 D. 118 E. 120
A proton has mass $m_{p}$ and charge $+e$. The force it exerts on another proton at a distance $r$ is given by $F(r)=\frac{1}{4 \pi \in_{0}} \frac{e^{2}}{r^{2}}$ where \(\frac{1}{4 \pi...
Presented below are two independent situations. 1. On January 1, 2008, Paul Simon Company issued $200,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and...
Microsoft Corporation makes Xbox video game consoles. For Microsoft's financial year YYYY, please make use of the following provided information regarding the inventory of those Xbox consoles:...
Katrina is single with a taxable income for last year of $75,431. Her employer withheld $14,870 in federal taxes. a. Use the tax table from Example 2 in Lesson 7-4 to determine Katrina's tax. b. Does...
What is the difference between "Man-in-the-middle" attack and "replay" attack? Explain a. ARP poisoning b. DNS poisoning
Describe the valuation overstatement penalty.
(a) Various elections must be made to compute a partnership's taxable income. For example, the partnership's tax year and accounting method must be chosen. Elections regarding depreciation and Code...
What is the negligence penalty?
What two parties might be subject to the understatement of tax liability penalty?
Jim files his return one month after the due date and pays the remaining $8,000 of tax owed by him. What are his delinquency penalties?
Determine the total surface area of a right cone with a radius of 8 in. at the circular base and a slant height of 11 in. If your answer contains decimals, round your answer to two decimal places. A...
Perform the indicated operations. In designing a cam for a fire engine pump, the expression is used. Simplify this expression. (3) (3 4 32
Albert owns 100 acres of land on which he grows spruce Christmas trees. His adjusted basis for the land is $100,000. He receives condemnation proceeds of $10,000 when the city's new beltway takes 5...
Jayden, a calendar year taxpayer, paid $16,000 in medical expenses and sustained a $20,000 casualty loss in 2019 (the loss occurred in a Federally declared disaster area). He expects $12,000 of the...
When Teris outside basis in the TMF Partnership is $80,000, the partnership distributes to her $30,000 cash, an account receivable (fair market value of $60,000, inside basis to the partnership of...
A magnetic monopole is a particle that casts out a radial magnetic field satisfying $abla \cdot \mathbf{B}=4 \pi q_{m} \delta(\mathbf{r})$ where $q_{m}$ is the magnetic charge of the monopole. A...
Consider a charged relativistic particle of charge $q$ and mass $m$ moving in a cylindrically symmetric magnetic field with $\mathrm{B}^{\varphi}=0$. (a) Show that this general setup can be...
A nice feature of the cyclotron described in the preceding problem is that the alternating current frequency applied to the "Dees" is a constant $\omega=q B / m c$ for nonrelativistic particles,...

Sam agency bought machine costing $150000 on 1st April 2016.He writes off depreciation @10% p.a on...

Question:

Expert Answer:

The detailed ... View the full answer

South-Western Federal Taxation 2020 Comprehensive

Students also viewed these accounting questions