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Question#4:
Company bought a machine for $10,000 on 1st July 20X8.
Useful life is 2 years.
Grant received at 40% on cost of asset.
Condition:
If sold within 2 years than full repayment.
Company sold the machine on 31st December 20X9.
Required: Entry
Question#5:
Company bought a machine for $10,000 on 1st July 20X8.
Useful life is 2 years.
Grant received at 40% on cost of asset.
Condition:
If sold within 1st year of purchase then full repayment & after 1st year a fixed repayment of $500. Company
sold the machine on 31st December 20X9.
Required: Entry
Sir Plz help to slove itHi,
If you demonstrate that you have attempted the question and highlight where you are struggling then you can let me know and then I’ll happily help you out.
Thanks
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