Essay Available:
You are here: Home → Math Problem → Accounting, Finance, SPSS
Pages:
1 page/≈275 words
Sources:
No Sources
Level:
APA
Subject:
Accounting, Finance, SPSS
Type:
Math Problem
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.68
Topic:
Joint Venture (Math Problem Sample)
Instructions:
joint venture accounting
source..Content:
Joint venture
Name:
Instructor:
Required:
Prepare the journal entries on 1 July 2013 in the books of M Ltd and Y Ltd to record their investment in the jointly controlled entity – L Ltd.
M LTD JOINT VENTURE WITH Y LTD
JOURNAL ENTERIES
AS AT 1ST JULY 2013
DETAILS
DEBIT
CREDIT
PLANT
50,000
TOTAL
50,000
Y LTD JOINT VENTURE WITH M LTD
JOURNAL ENTERIES
AS AT 1ST JULY 2013
DETAILS
DEBIT
CREDIT
CASH
25,000
MACHINERY
25,000
TOTAL
50,000
ii) Prepare the adjusting journal entries required under equity method of accounting for the year ended 30 June 2014 in the financial statements of M Ltd and Y Ltd in relation to their investment in the jointly controlled entity – L Ltd.
L LTD
ADJUSTING JOURNAL ENTERIES
FOR THE YEAR ENDED 30TH JUNE 2014
DETAILS
DEBIT
CREDIT
DEPRECIATION
60,000
ACCUMULATED DEPRECIATION
60,000
ACCOUNTS RECEIVABLE
150,000
SALES
150,000
EXPENSE
7,500
ACCOUNTS PAYABLE
<...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
Other Topics:
- Master Production Schedule Description: The key idea is: we have a forecast, but it turns into and actual order when we receive a customer order. MPS starts with a preliminary calculation of projected inventory...2 pages/≈550 words| APA | Accounting, Finance, SPSS | Math Problem |
- Introduction to AccountingDescription: Using the following information, you are required to complete the following tasks for the year ending 30th November 2013...1 page/≈275 words| APA | Accounting, Finance, SPSS | Math Problem |
- Preparing and Analyzing Financial StatementsDescription: Obtain the financial statements for the past four fiscal years for the company you selected. This may require using older annual reports that are available on the company’s website....1 page/≈275 words| APA | Accounting, Finance, SPSS | Math Problem |
