POA - pls share in the main thread

Y_Shun SG

31 Dec

Sold Machine A for $25,000 cash. Machine A was purchased on 1 Dec 2000 for $50, 000. The total hours used since it was purchased up to 31 Decemeber 2002 was 6,000 hours and the total hours used for the financial year ended 31 Decemember 2002 has not been recorded in the books.

Machine A
Cost $50, 000
Total Production capacity/useful life: 10, 000 hours
Accumulated depreciation: $22,500

a) Prepare journal entries, no narrations required. Show all workings.

tinuviel07 SG

I think it can be agreed that all threads regarding POA should be consolidated under the main thread to minimize the excessive no. of threads and make it easier for reference.

I've taken the liberty to shift your question to the main thread and have started to reply to the question.

Any further questions or answers pls reply to the main thread.

Ps. Pls try to attempt on your own to increase your understanding of the questions and concepts as suggested in the forum guidelines.