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Category > Accounting Posted 27 May 2017 My Price 7.00

Majikstan Enterprises has equipment on its books that it acquired at the start of 2009

Majikstan Enterprises has equipment on its books that it acquired at the start of 2009 . The equipment is being depreciated in straight-line fashion over a 10-year period and has no salvage value. The current cost of this equip- ment at the end of 2010 was MJR8,000,000,000. During 2011 , the specific price index for equip- ment increased from 100 to 137.5. General

the period

BalanceSheet	2010	2011	price-level index information for
Cash	MJR 2,500	MJR 5,100
Equipment, net Total assets	4,000 MJR 6,500	3,500 MJR 8,600	12/31/10	30,000
Current liabilities	MJR 1,000	MJR 1,200	Average	32,900
Long-term debt	3,000	4,000	12/31/11	36,000
Owners’ equity	2,500	3,400
Total	MJR 6,500	MJR 8,600	Required : Using thi	s informa

was as follows:

Required: What was the change in Majikstan’s net monetary asset or liability position?

tion, calculate the increse in the current cost of Majikstan Enterprise’s equipment, net of inflation.

Sep 17 2015 12:56 PM

Answers

Alpha Geek

(8)

Status NEW Posted 27 May 2017 02:05 PM My Price 7.00

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