Investments in associates are accounted for using equity accounting. An investment is an associate if the investor has significant influence over the investee. Significant influence is presumed if the ...
The excess deprecation is the new depreciation amount of $50,000 less the old depreciationcharge of $30,000 ($750,000/25 years) which is $20,000. This amount should be debitedfrom the revaluation surpl...
Numberplates,radioanddeliverycostsareincludedinthecapitalcostofacquiringthecar.Road tax is an annual charge against revenue...
Cost of sales = $114,000Therefore sales should be = $114,000 x 100/60 = $190,000 Theft = $190,000 - 181 600 = $8,400...
$950 + $1,250 + $50 = $2,250,000...
Assets which are expected to be converted into cash in the short term...
50 @ $190 $9,500500 @ $220 $110,000300 @ $230 ...
Discounts allowed are recorded in the cash book. Credit notes received are to do with returned purchases (not sales). Trade discounts are not recorded, as they are deducted on the sales invoices and on...
Statement of profit or loss and other comprehensive income = $60,000 x 12/18=$40,000Statement of financial position = $60,000 x 3/18 prepayment = $10,000...
Plant depreciation, carriage inwards, raw materials, Supervisor's wages...