Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer to q-10.7(low value pool, asset with part p

Answer to Q-10.7(Low value pool, asset with part private use) Note- Please show...

60.1K

Verified Solution

Question

Accounting

Answer to Q-10.7(Low value pool, asset with part private use)
Note- Please show all workings where necessary and you may use additional space below
Please write your workings/explanations and answers in Blue cells QUESTION 10.7
(Low value pool, asset with part private use)
Scooby Montana is employed as a salesperson. Scooby uses a low value
pool which, at 30 June 2021, had a balance of $1,850.
On 1 September 2021, Scooby bought a mobile phone for $580 which he
used entirely for work. The phone has an effective life of 3 years.
On 31 January 2022, Scooby purchased a photocopier for $800. He
estimates that the copier is used 80% for work and has a useful life of 6
years.
Calculate the balance of Scooby's low value pool as at 30 June 2022.
Calculate the decline in value deduction available for the 2021/22 tax
year.prepare tax documentation for individuals edition 18 solution to question 10.7
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

In how many ways can the letters of CALCULATOR be arranged?a)453,600b) 3,628,800c) 100,000,000d) 24

Algebra
Q

Explain the inductive affect in acids and bases

Chemistry
Q

1 The following gel was produced in manual DNA sequencing What would the unknown DNA...

Biology
Q

A 2 V battery a 990 Q resistor and a potentiometer of 2 m length...

Physics
Q

AD Rhombus Statement ABCD is a rhombus DF bisects BC ZDEC FEB ZCZEBF DC AB...

Geometry
Q

A group of test subjects is divided into twelve groups; then four of the groups...

Basic Math
Q

Use the matrix below to perform scalar multiplication B 4B 4 2 58 8 6

Algebra
Q

3 6 pts A hydraulic arm has the dimensions shown below Through what angle 8...

Algebra
Q

Yuvwell Corporation's direct labor budget for next year contained the following information: \table[[Budgeted...

Accounting
Q

What does the acid-test (quick) ratio measure? a) A company's ability to pay...

Accounting
Q

Prioritize the top problem, pretty please and thank you! Excel Online Structured Activity: Bond...

Finance
Q

What amount is 53.70% of $3.70?

Accounting