Can you please explain to me how 7.4 question is solved please in detail. An control to to in the ledger andAn a amount of A asset had beenAn to ensure of all assets are in the event of or theftAn asset register shows a of The asset insold for a loss on of $1,250. No entries had been in the asset registerthe a of The be due to a disposed7.2Which of the statements below correctly states the purpose of the asset register?To ensure the organisation is aware of the age of plant and machinery(2 marks)C.the financial statements is correct7.3for this disposal.(2 marks)247.4asset not having been deducted from the asset register.Which one of the following could represent that asset?B.Asset with disposal proceeds of $15,000 and a carrying amount of $5,000C.Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000D.Asset with disposal proceeds of $5,000 and a carrying amount of $5,000Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000(2 markWhich one of the following would occur if the purchase of computer stationary was debited to thecomputer equipment at cost account?An overstatement of profit and an overstatement of non-current assetsB.An understatement of profit and an overstatement of non-current assetsC.An overstatement of profit and an understatement of non-current assetsAn understatement of profit and an understatement of non-current assetsD.(2 mWhich one of the following statements correctly describes non-current assets?

Correct Answer to Question 7.4 : A. Asset with disposal proceeds of $15,000 and a profit on disposal…

the nominal ledger shows a carrying amount of $135.600. The difference could be due t a ap asset not having been deducted from the asset register. An organisation's asset register shows a carrying amount of $145,600. The non-current asset account in Which one of the following could represent that asset? Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000 Asset with disposal proceeds of $15,000 and a carrying amount of $5,000 Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000 Asset with disposal proceeds of $5,000 and a carrying amount of $5,000 (2 mark

the nominal ledger shows a carrying amount of $135.600. The difference could be due t a ap asset not having been deducted from the asset register. An organisation's asset register shows a carrying amount of $145,600. The non-current asset account in Which one of the following could represent that asset? Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000 Asset with disposal proceeds of $15,000 and a carrying amount of $5,000 Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000 Asset with disposal proceeds of $5,000 and a carrying amount of $5,000 (2 mark

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 4AP

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