“Revaluation of Assets”
The company newly incorporates in Pakistan and contracted with PSS manufacturing for five years in technology sector. Company acquired building for manufacturing purpose for Rs. 6,500,000 in January 2003, where company assembles different parts in to portable transistor. Same year due to severe earthquake the valuers estimated the physical position of building reduce to Rs.6, 000, 000.This was taken as an expense in the income statement. Accumulated depreciation recorded in book after three years of use is Rs.900, 000. The estimated life of the building is 20 years. In 2005, the asset was revalued at the value of Rs.6, 800, 000. Company is provided for annually on 31st December at the rate of 5% per annum on original cost method.
Pass the Journal Entries regarding:
1. Loss incurred in 2003.
2. Incremental Depreciation after Revaluation in 2005.
3. Calculate the Amount of Surplus.
4. Amount of Surplus transfer to retained earnings.
ENG301 Assignment No 3 Fall 2017Dear Students, Here you can read or Download ENG301 - Business CommunicationAssignment No 3 Solution and Discussion of Semester Fall 2017. Assignment Due Date is 02 February, 2018. Total Marks are 20. Lectures covered in this Assignment are from Lecture No 23 to Lecture No 37. ENG301 Assignment Solution File has been added. We are here to facilitate your learning and we do not appreciate the idea of copying or replicating solutions.
|ENG301 Assignment No 2 Solution and discussion Fall 2017|
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ENG301 Assignment Question No 1:As the Sales Director of Sapphire & Co., write a circular letter to introduce your new Allama Iqbal Town branch to your customers.
ENG301 Assignment Question No 2:Match the special terms for meetings in column A with their definitions in column B and write the correct definitions in column C.
Special terms for Meetings and Committee :
|ENG301 Assignment Question No 2 - Special terms for Meetings and Committee|
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|ENG301 Assignment No 3 Solution Fall 2017 Sample Preview|