In the 30 June 2014 annual report of Sonner Ltd, the equipment A was reported as follows: Equipment A (at cost)

Accumulated Depreciation

Estimated useful life

Sonner Ltd measure the equipment by the revaluation model. This has resulted in the recognition in previous periods of an asset revaluation surplus for the equipment of $20 000. At 30 June 2014, Equipment A was revalued to $ 500,000.

Required : Prepare the journal entries to revalue the equipment A at 30 June 2014. (Apply both method)

(400 000)

600 000

10 years

Fess receives wages totaling $74,500 and has net earnings from self-employment amounting to $71,300. in determining her taxable self-employment income for the oasdi tax, how much of her net self-employment earnings must fess count? a. $74,500 b. $71,300 c. $53,900 d. $127,200 e. none of the above.

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii