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    1, Nitish Corp.'s Board of Directors Moved The

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    laale dijaan
    The document contains information about the original cost, depreciation, and sale of a building asset. It lists: - The original cost was 20 with 40% depreciation as of 1 Sep-13 - The building was appraised at 10 and listed for sale at 10 for 9 months at a 6% commission - It was relisted at 11.5 and eventually sold for 11.7 with a small gain on disposal

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    1, Nitish Corp.'s Board of Directors Moved The

    Uploaded by

    laale dijaan
    41 views3 pages
    The document contains information about the original cost, depreciation, and sale of a building asset. It lists: - The original cost was 20 with 40% depreciation as of 1 Sep-13 - The building was appraised at 10 and listed for sale at 10 for 9 months at a 6% commission - It was relisted at 11.5 and eventually sold for 11.7 with a small gain on disposal

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    Original Title

    1, Nitish Corp.’s board of directors moved the

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    The document contains information about the original cost, depreciation, and sale of a building asset. It lists: - The original cost was 20 with 40% depreciation as of 1 Sep-13 - The building was appraised at 10 and listed for sale at 10 for 9 months at a 6% commission - It was relisted at 11.5 and eventually sold for 11.7 with a small gain on disposal

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    41 views3 pages

    1, Nitish Corp.'s Board of Directors Moved The

    Uploaded by

    laale dijaan
    The document contains information about the original cost, depreciation, and sale of a building asset. It lists: - The original cost was 20 with 40% depreciation as of 1 Sep-13 - The building was appraised at 10 and listed for sale at 10 for 9 months at a 6% commission - It was relisted at 11.5 and eventually sold for 11.7 with a small gain on disposal

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 3

    original cost 20 no.

    Date
    depreciated 40% 1 Sep-13

    a appraisal 10
    b market 10 next 9 months 6% final sale 2 Sep-15
    c official asking 10 low as 8.5
    d first 2 months 3 Sep-24
    e relisted 11.5
    f accepted 11.7
    4 Sep-24

    5 Dec-31

    6 Mar-31

    7 Apr-27
    General Journal Debit Credit Notes
    Accumulated depreciation-Building 8000000 1
    Building (non-current asset) 8000000
    3
    No journal entry

    Loss on asset held for sale 2600000


    Building (non-current asset) 2600000

    Building held for sale-current asset 9400000 5


    Buildong (not current asset) 9400000

    Loss on asset held for sale 1410000


    Building held for sale-current asset 1410000

    Building held for sale-current asset 2820000


    Gain(recovery) on building held for sale 2820000
    6
    Receivable from sale of building 10998000
    Building held for sale-current asset 10810000
    Gain on disposal of building held for sale 188000

    7
    20million*0.4

    Book value of Machine 12000000


    20000000-8000000
    Sale price less comission 9400000
    10 million*(1-0.06)
    Loss 2600000

    Official asking price less comission 9400000


    10 million*(1-0.06)

    Lowest offer considered less commission 7990000


    8.5 million*(1-0.06)

    Loss 1410000

    Lowest offer considered less commission 7990000


    8.5 million*(1-0.06)

    Developer relisted property less commission 10810000


    11.5 million*(1-0.06)

    Building held for sale 2820000


    10810000-7990000

    Acepted offer less commission 10998000


    11.7 million*(1-0.06)

    Developer relisted property less commission 10810000


    11.5 million*(1-0.06)

    Gain on disposal 188000


    10998000-10810000

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