All Subjects Assignments Discussions and Solutions


All Subjects Assignments Discussions and Solutions

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Comment by kashif munawar 14 hours ago


Learning Outcomes

After going through this activity, the students would be able to apply the analytical skills.


Topic: “Property, Plant and Equipment”

ABC Corporation Limited purchased machinery three years ago for Rs. 1,000,000 with an

estimated useful life of 10 years. Currently its accumulated depreciation is standing at Rs.

300,000. This gives the net book value of Rs. 700,000 (1,000,000 – 300,000). The service of a

professional valuer has been acquired by the ABC Corporation Limited to carry out the process

of revaluation of fixed assets. He has briefly described the process of valuation to the

management of the company as follows:

As per International accounting standards (IAS.16) relating to Property, Plant and Equipment,

the complete process of accounting for revaluation of non-current assets comprise of three

main steps:

  1. Adjusting the cost of asset i.e. account of asset for impairment loss / profit
  2. Eliminating accumulated depreciation of asset being revalued
  3. Recognizing revaluation gain or loss

After explaining the complete process now the management has presented him two different

situations to deal with:

In 1st case the fair value estimation of machinery is significantly more than the net book value

and in 2nd case it is significantly less than the book value. These values are as follows:

 Fair market value of machinery is Rs. 1,500,000; or

 Fair market value of machinery is Rs. 500,000

Required: You are required to keep yourself at the position of professional valuer and provide

the calculations of impairment loss/profit, how accumulated depreciation account will be

eliminated, and calculations of revaluation gain / loss and adjusting entry of revaluation

process in both cases by keeping in mind the above mentioned three steps.

Note: Provide the solution in the following table form otherwise your assignment will not

be accepted.

Comment by Tayyaba on Sunday
Plz help me soc101
1st assignment
Comment by Tasneem on Friday

Comment by kashif munawar on May 15, 2018 at 1:54pm

DUE DATE: MAY 15, 2018
The Case:
Angola is located in southern Africa. It is the 7th largest country in Africa.
The total population in Angola was estimated at 27.5 million people in 2016.
Major exports are crude oil, petroleum products, wood, fish products,
coffee and cotton while major imports are food, textile products and
consumer products. Suppose economy of Angola produced only fish,
petrol and milk for the year 2016 and 2017. Facts and figures and
macroeconomic indicators of the economy of Angola for the year 2016 and
2017 are given in Table-01 and Table-02.
2016 2017
Price (Rs) Quantity Price (Rs) Quantity
Fish (Kg) 10 1000 11 1500
Petrol (Liter) 20 2000 20 2500
Milk (Liter) 5 10000 6 11000
2016 2017
Real interest rate 3% 3.5%
Employed 11 million 17 million
Unemployed 5 million 2 million
Keeping in view the above facts and figures, in the economy of Angola,
a. Nominal GDP for the year 2017
b. Real GDP for the year 2017 using 2016 as a base year
c. GDP deflator for the year 2017
d. Labor force for the year 2017
e. Unemployment rate for the year 2017
(Note: Write down formula and all relevant steps involved in calculation)
Marks: (2+2+2+2+2)
24 hours extra / grace period after the due date is usually available to overcome
uploading difficulties. This extra time should only be used to meet the
emergencies and above mentioned due dates should always be treated as final
to avoid any inconvenience.
 Make sure to upload the solution file before the due date on VULMS.
 Any submission made via email after the due date will not be accepted.
 Use the font style “Times New Roman” or “Arial” and font size “12”.
 It is advised to compose your document in MS-Word format.
 You may also compose your assignment in Open Office format.
 Use black and blue font colors only.
Please note that your assignment will not be marked, if:
 It is submitted after the due date.
 The file you uploaded does not open or is corrupt.
 It is in any format other than MS-Word or Open Office; e.g. Excel,
PowerPoint, PDF etc.
 It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive
Dear students!
As you know that Pre Mid-Term semester activities have started
and load shedding problem is also prevailing in our country.
Keeping in view the fact, you all are advised to post your activities
as early as possible without waiting for the due date. For your
convenience; activity schedule has already been uploaded on
VULMS for the current semester, therefore no excuse will be
entertained after due date of assignments, quizzes or GDBs.

Comment by Hamxa Ali on May 7, 2018 at 1:23pm

Yaha Koi BSCS 1st Semester Ka 24 Hour Online Rehny Wala Sb Sy Nikama Banda Hai Koi Meri Tarha To Please Request Send Krdo?

Comment by Mehmood ul hassan on May 6, 2018 at 12:53pm

complet cs101 assingment

Comment by Nauman Sajid on May 4, 2018 at 9:26pm
Salaam.. Hope so everybody is fine!
Can i know who who is enrolled in Virtual Uni for Buisness Administration ( Spring 2018 ) ?
Comment by Aqsa (Msc. Psy) 3rd on January 19, 2018 at 10:03am

Asslam o alikum to all. today cs 604 assignment's extand date . kindly help me

Comment by Saadmalik on December 17, 2017 at 9:59am
  • Aoa any body have any past mid papers mth202 plz share....

Comment by usman ahmad urfi on November 27, 2017 at 8:33pm


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