Use the Following Information to Answer Questions 14 and 15

question 19

Multiple Choice

Use the following information to answer questions 14 and 15
An extract of a company's draft statement of financial position at 30 June 2012 discloses the following:
On 30 June 2013 the company assessed the fair value of the plant to be $350 000. At 30 June 2014, the carrying amount of the Plant was $250 000.
The tax rate is 30%. Depreciation rates are 10% p.a. (accounting) and 12.5% p.a. (tax) using the straight-line method.
-The journal entries necessary to record the revaluation of plant (ignoring any tax effect) at 30 June 2013 in accordance with IAS 16 Property, Plant and Equipment is:

Identify the appropriate channel for delivering various types of messages.

Develop skills in framing messages to manage perceptions.

Know the components and structure of inductive and deductive message outlines.

Recognize the importance of providing logical and clear reasons in message refusals.

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Definitions:

Preemptive Right

The right of existing shareholders to purchase additional shares of new stock before it is offered to the public to maintain their proportional ownership in the company.

Corporate Policies

Guidelines and principles that dictate various aspects of a company’s operations, including ethical conduct, employee relations, and compliance with laws.

Federal Income Taxes

Taxes levied by the federal government on individuals, corporations, and other entities based on their net income.

In Perpetuity

In perpetuity refers to an infinite amount of time, often used in finance to describe payments that continue forever.