A Joint Operation Holds Equipment with a Carrying Amount of $1

question 24

Multiple Choice

A joint operation holds Equipment with a carrying amount of $1 200 000. The two joint operators participating in this arrangement share control equally. They also depreciate Equipment using the straight-line method. The Equipment has a useful life of 5 years. At reporting date each joint operator must recognise the following entry, in relation to depreciation, in its records:

• A) DR Depreciation $240 000;
• B) DR Depreciation $120 000;
• C) DR Investment in joint operation $240 000;
• D) DR Assets in joint operation $120 000.

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Definitions:

Neurotransmitter

Chemicals in the brain that transmit signals from one neuron to another across synapses.

Dopamine

A neurotransmitter involved in the regulation of movement, emotion, motivation, and the sensation of pleasure.

Schizophrenia

A disorder characterized by delusions, hallucinations, disorganized speech, and/or diminished, inappropriate emotional expression.

Motor Neurons

Nerve cells forming part of the nervous system which transmit signals from the brain and spinal cord to muscles and glands, initiating movement and actions.