1.2. KK Limited owns a property that is used as its head office in Pretoria. On 1st January 2020, its carrying value was R20 million and its remaining useful life was 20 years. On 1st July 2020, the business recognized cheaper premises found for use as the head office. It was therefore decided to lease the property under an operating lease. The property was valued by a qualified professional who assessed the property’s value as R21 million on 1st July and R21.6 million on 31st December 2020. Explain the accounting treatment of the property in the financial statements for the year ended 31st December 2020. (Hint: Income statement and SOFP extract including calculations

Alankar Ltd. commenced business on 1st January 2018, when they purchased plant and equipment for 9,00,000. They adopted a policy of charging depreciation at 15% per annum on diminishing balance basis and over the years, their purchases of plants have been as follows01/01/2019 - Rs. 3,50,000 01/01/2022 - Rs. 4,00,000 On 1/1/2022 it was decided to change the method and rate of depreciation to straight line basis. On this date remaining useful life was assessed as 6 years for all the assets purchased before 1/1/2022 with no scrap value and 10 years for the asset purchased on 1/1/2022. Prepare depreciation schedule for 5 years. Books of accounts are closed on 31st December every year.

During the year ended 30 June 2023, CoCo Berhad had the following transactions: a. In July 2022, CoCo Berhad acquired a building for RM800, 000 with an estimated useful life of 20 years. It is the company's policy to depreciate the building on a straight line basis. On 30 June 2023, the building had been revalued to RM950, 000. It is the company's policy to provide a full year's depreciation in the year of purchase and none in the year of disposal. For tax purposes, initial allowance of 10% and annual allowance of 3% are given for such buildings. The company has no intention to dispose the revalued building. b. CoCo Berhad had trade receivables of RM1, 500, 000 and an allowance for doubtful debts of 10% has been made for the year. Income tax rate is 25% for the year ended 30 June 2023. Required: Calculate the deferred tax asset or deferred tax liabilities as at 30 June 2023 arising from the above transactions.    Please step by step answer

In singapore pinku Ltd sold a machine in the year ended 30 September 2023 for $23,000. This machine was purchased for S$60,000 in the year ended 30 September 2021 and it was depreciated over 5 years though CA was claimed under S19(1) over 3 years. What is the balancing adjustment for the above sale? A. Balancing Charge of $3,000B. Balancing Charge of $13,000C. BalancingAllowanceof$3,000 D. Balancing Allowance of $13,000

Coco Sdn Bhd has a year end of 31 December and operates a factory which makesceramic tiles. It purchased a machine on 1 July 2020 for RM80,000 which had auseful life of ten years and is depreciated on the straight-line basis, time apportionedin the years of acquisition and disposal. The machine was revalued to RM81,000 on1 July 2021. There was no change to its useful life at that date. A fire at the factoryon 1 October 2023 damaged the machine leaving it with a lower operating capacity.The accountant considers that Coco Sdn Bhd will need to recognise an impairmentloss in relation to this damage.The accountant has ascertained the following information at 1 October 2023:i. An equivalent new machine would cost RM90,000.ii. The machine could be sold in its current condition for a gross amountof RM45,000 with a dismantling cost of RM2,000.iii. In its current condition, the machine could be used for three more yearswhich gives it value in use of RM38,685.Required:With respect to MFRS 136,…