University Accounting Assignment: Company Accounting, ACCT20073

This document presents a complete solution to a company accounting assignment, covering various aspects of financial accounting. The solution includes detailed journal entries for transactions involving machine purchases, depreciation, revaluation, and repairs. It provides step-by-step calculations for depreciation using different methods and addresses the accounting treatment for gains and losses on revaluation. The assignment also delves into impairment losses, demonstrating how to allocate them to different asset categories, including goodwill, and providing the necessary journal entries. The solution demonstrates a strong understanding of accounting principles and their practical application in real-world scenarios.