Ferris Wheeler is a trader in entertainment services. The business reported a net loss of $18,800 for the year 2012. At the start of the year the owners equity was $378,800, and at the end of the year the equity was $330,000. During the year the owner took goods valued at $10,000 as well as cash for personal use. What is the amount of cash drawings for the year? a. $57,600 b. $47,600 c. $30,000 d. $20,000 The Quaker Valley operates travel service The following is a schedule of its non current assets for 2021 Asset Book Value Jan 1 Book Value Dec 31 Property Pant and Equipment $3, 450,000 $3,850,000 Motor Vehicle $2,700,000 $3,300,000 It was reported that an old equipment with a book value of 450,000 was sold for $530,000; and that new equipment costing $1,000,000 was purchased. How much is to be show as depreciation charges on the property plant and equipment for the year? a. $70,000 b. $80,000 c. $150,000 d. $230,000
Ferris Wheeler is a trader in entertainment services. The business reported a net loss of
$18,800 for the year 2012. At the start of the year the owners equity was $378,800, and at
the end of the year the equity was $330,000. During the year the owner took goods valued at
$10,000 as well as cash for personal use.
What is the amount of cash drawings for the year?
The Quaker Valley operates travel service The following is a schedule of its non current
assets for 2021
Asset Book Value Jan 1 Book Value Dec 31
Property Pant and Equipment $3, 450,000 $3,850,000
Motor Vehicle $2,700,000 $3,300,000
It was reported that an old equipment with a book value of 450,000 was sold for $530,000;
and that new equipment costing $1,000,000 was purchased.
How much is to be show as depreciation charges on the property plant and equipment for the
year?
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