Depreciation on a particular piece of machinery was N2,70...
Depreciation on a particular piece of machinery was N2,700 during the fifth year of its service life and N4,050 during the sixth year. The logical explanation for this is that?
An addition was made to the asset during the sixth year
The estimate of salvage value on this equipment was decreased
A unit-of-output method of depreciation was used during the sixth year
The estimate remaining service life of the assets was increased at the beginning of the sixth year
Correct answer is A
No explanation has been provided for this answer.
Given: 31/12/98 31/12/99 Assets: Plant and Mach. N1,500 N1,200 Fixtures N700 N520 Stock N500 N600...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Stock Jan 1} & 2000 \\ \hline \text{Purchase...
Use the following information to answer the given question. \(\begin{array}{c|c} & & N ...
The net profit or loss for the year is determined in profit and loss account after ...
Sales N20,000 Cost sales N10,000 Operating expenses N2,500 Expenses prepaid included in op...
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...
As a basis for assessing future usage, fixed assets are shown at ...