a. Prepare the July 1 entry for Brandon to record the purchase. b. Prepare the December 31 entry for Brandon to record amortization of intangibles. The trademarks have an estimated useful life of 4 years with a residual value of €3,000.

On 1 July 20X7 Brown Ltd bought a machine for GHS 48,000. The machine was depreciated at 25% per annum on a straight-line basis until 30 June 20X9.   On 1 July 20X9, the machine was revalued to GHS 30,000. Brown Ltd considers that its remaining useful life is three years.   According to IAS 16 Property, Plant and Equipment, what should be the depreciation charge for the year ended 30 June 20Y0 and the balance on the revaluation surplus as at 30 June 20Y0? (Ignore any transfer of excess depreciation.)               Depreciation charge                  Revaluation surplus A         GHS 8,000                              GHS 4,000 B          GHS 8,000                              GHS 6,000 C         GHS 10,000                             GHS 6,000 D         GHS 10,000                             GHS 4,000

A machine was purchased on 1 January 2021 and the other details of the machine are:-                         Cost of machine N$324 000 Depreciation rate 5 % Determine the amount of deprecation as at 31 December 2021

An asset's book value is $36,000 on January 1, Year 6. The asset is being depreciated $500 per month using the straight-line method. Assuming the asset is sold on July 1, Year 7 for $25,000, the company should record: Multiple Choice O O O Neither a gain or loss is recognized on this type of transaction. A gain on sale of $2,000. A loss on sale of $1,000. A gain on sale of $1,000. A loss on sale of $2,000.