POA (updated 5 feb 09)
-
Originally posted by Y_Shun:
Hey maurizio.. thanks for the ans, but I don;t quite understand it... this is what I did, but i can;'t balance it.
Dr Cash 25,000
Dr Accumulated Depreciation (22,500 + 7,500)
Cr Machine A 50,000
Dr Loss 50000(50,000 - 30,000)total of debit side is 60,000 while cr side is 50,000
it should be gain 5000 -
OHHHHH YES ITS A gain
omgs
dumb me :(
TY for the correction !!!
so its gonna be...?
Dr Cash 25,000
Dr Accumulated Depreciation (22,500 + 7,500)
Cr Machine A 50,000
Cr Gain 5000(20,000 - 25,000) -
Hey presto
Cr = Dr now!
But I returned most of my basic accounting knowledge back to NUS liao, although got A+ for that module
-
no time to organise thread sia.. damn busy..
-
Originally posted by Y_Shun:
OHHHHH YES ITS A gain
omgs
dumb me :(
TY for the correction !!!
so its gonna be...?
Dr Cash 25,000
Dr Accumulated Depreciation (22,500 + 7,500)
Cr Machine A 50,000
Cr Gain 5000(20,000 - 25,000)yup..
-
***I think maybe you should also add in a Depreciation a/c, cause you might lose marks. My fault, cause I don't like opening up too many accounts.
-
Does anyone have a practice question for Trading, Profit and Loss and appropriation account? A question on amalgamation would also suffice.
Thanks in Advance
-
To all students of Accounting,
You may like to visit this blog http://www.accounting-paradise.blogspot.com/
Work hard and good luck
Accounting Tutor
-
tinuviel is great!