Frozen Ltd purchased machinery on 1 July 2011
by | Mar 18, 2020 | Uncategorized
Frozen Ltd purchased machinery on 1 July 2011 for $384,000. The machinery is expected to have a useful life of 14 years and a residual value of $68,000. The firm accounts for the machinery using the revaluation model. The fair value of the machinery on 30 June 2012 is $530,000. The machinery was sold for $463,000 cash on 31 December 2013. No revisions are made to the useful life and residual value at the time of the revaluations.
Calculate and enter the amount of gain on sale or loss on sale of machinery in the answer block below: (please use negative sign for loss on sale)
Why work with us?
Authenticity:
All of our papers are authentic, as each paper of ours is composed according to your unique requirements.
Confidentiality:
We value you data. Our company is extremely efficient in guarding the privacy of our clients.
100% Money Back Guarantee:
In the event you cancel your order, you get your money back as soon as possible, we give a 100% refund.
24/7 Support:
Our team members are available via email, live chat, and phone.
Revision Policy:
You can apply for a revision if you think your paper could be better. In this case, your paper will be revised either by the specialist assigned to you or by another writer.
How the Platform Works
- Click on 'Place Your Order' tab on the menu or click on 'Order Now' tab at the bottom and a new order page will appear
- Fill in your requirements depending on your needs under the 'PAPER DETAILS' area
- In the next section, fill in the academic level, required number of pages, paper deadline as provided in the drop-down menus.
- To enter your registration details, click on 'CREATE ACCOUNT & SIGN IN'. This step allows you to create an account with us for purposes of record-keeping. Click on 'PROCEED TO CHECK OUT' at the bottom of the page
- The next section requires you to fill in the payment details. Follow the guided process and soon your order will be available for our team to work on.
