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A Ltd sells to J Ltd an item of inventory on 1 January 20X3 for $6 000. The item cost A Ltd $3 000 earlier in the current year. J Ltd intends to use the item as plant with a useful life of 10 years, and no estimated salvage value. A straight-line depreciation rate of 10% p.a. is applicable. The tax rate is 30%. The worksheet entry for the year ended 30 June 20X3 would include the following adjustment:
Stirrup
A tiny bone in the middle ear that plays a critical role in the process of hearing by transmitting sound vibrations to the inner ear.
Middle Ear
The part of the ear located between the eardrum and the inner ear, containing three small bones that transmit sound vibrations.
Cones
Specialized photoreceptor cells in the retina of the eye responsible for color vision and functioning best in relatively bright light.
Vision
The capability of the eyes and brain to interpret electromagnetic energy (light) into images, enabling sight.
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