Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Kanga Cairns Ltd owns two blocks of beachfront land, acquired in 2011 for the purposes of future residential development. Block A cost $250 000 and Block B cost $350 000.
Valuations of the blocks are undertaken by an independent valuer on 30 June 2013 and 30 June 2015. The assessed values are:
2013 valuation 2015 valuation
Block A 230 000 290 000
Block B 370 000 340 000
Required
Assuming asset revaluations were undertaken for the land in both 2013 and 2015, provide the journal entries for both years LO 6.3, 6.8

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946325

Have any Question? 


Related Questions in Accounting Basics

Accounting assignmenttransfer pricing decisionsas a manager

Accounting Assignment Transfer Pricing Decisions As a manager, you may be tasked with making recommendations as to how your organization should structure its transfer pricing. This is especially true in cases when both v ...

Question 1ryan withdrew cash from the business to pay his

Question 1 Ryan withdrew cash from the business to pay his personal cell phone bill. The expanded accounting equation changes include __________. A. increase in both cash and withdrawal B. decrease in both cash and withd ...

You are starting your own internet business you decide to

You are starting your own Internet business. You decide to form a company that will sell cookbooks online. Justcookbooks.com is scheduled to launch 6 months from today. You estimate that the annual cost of this business ...

1 here is a very detailed article on asset

1. Here is a very detailed article on asset valuation. http://www.investopedia.com/articles/stocks/07/allocate_assets.asp What have you found interesting in this article? How can this help you as you progress with your a ...

1 many firms are relying on cloud computing also known as

1. Many firms are relying on cloud computing, also known as "the cloud," to perform key business functions. By moving transactional processing to the cloud, firms are exposing themselves to additional attacks as well as ...

Discussionpart 1 please respond the following question no

Discussion Part 1 please respond the following question no less then 350 words (original work, no plagiarism, 1 reference "fairness of the federal estate tax and income and principal in fiduciary accounting" please respo ...

Assignmentthe company that i chose to research came to me

Assignment The company that I chose to research came to me on the way home from work this week while sitting in traffic. A string of several ads came on the radio and got a little frustrated that my Christmas tunes were ...

A tomato farmer with a very large farm of approximately

A tomato farmer with a very large farm of approximately 2200 acres had heard about a new type of rather expensive fertilizer which would supposedly significantly increase his production. The frugal farmer wanted to test ...

Qestion 1beginning inventory24 tires 61purchase6 tires

QUESTION 1. Beginning inventory........24 tires @ $61 Purchase.........6 tires @ $76 Sale.......17 tires @ $105 Requirements 1. Compute cost of goods sold and gross profit under FIFO. 2. Compute cost of goods sold and gr ...

Ginos restaurant is a popular restaurant in boston

Gino's Restaurant is a popular restaurant in Boston, Massachusetts. The owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based cos ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro