Introductory Accountancy
Today we asked bout how did the $41k come bout (assg qn 3). Was it the proceedings of the equipment? And how did the equipment manage to sell for exactly the cost of it.
Answer:
background: Original asset was $80k then hit $96k at the beginning of next year. Therefore, an increase of $16k.
Fact: we sold the equipment, decrease in asset of $25k, DEFINITE. thus become $65k. after which, we bought a new equipment of unknown price, but $96k-$65k will lead us to e ans of $41k.
Answer:
background: Original asset was $80k then hit $96k at the beginning of next year. Therefore, an increase of $16k.
Fact: we sold the equipment, decrease in asset of $25k, DEFINITE. thus become $65k. after which, we bought a new equipment of unknown price, but $96k-$65k will lead us to e ans of $41k.
posted by blogkok at 5:20 AM
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