“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.
CS101 GDB No 1 Fall 2017
Dear students, Here you can read or download CS101 - Introduction to Computing Graded Discussion (GDB) No 1 Solution and Discussion of Semester Fall 2017. Please visit your GDB interface in your LMS to put your comments on the dates 30-01-2018 and 31-01-2018 only. GDB Due Date is 31 January, 2018. CS101 Graded Discussion (GDB) Solution File has been added. We are here to facilitate your learning and we do not appreciate the idea of copying or replicating solutions. Previously we shared CS101 Assignment No 2 Solution Fall 2017.
|CS101 GDB No 1 Solution Fall 2017|
CS101 GDB Topic:Artificial Intelligence is designing machines that have the ability to think. Discuss whether artificial intelligence systems improve learning with experience like human or not?
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