User Account

All Pages

A company purchased a machine valued at 66000 it traded in

Assignment Help Accounting Basics
Reference no: EM13482720

A company purchased a machine valued at $66,000. It traded in an old machine for a $9,000 trade-in allowance and the company paid $57,000 cash with the trade-in. The old machine cost $44,000 and had accumulated depreciation of $36,000. This transaction has commercial substance. What is the recorded value of the new machine?

a. $ 8,000.

b. $ 9,000.

c. $57,000.

d. $65,000.

e. $66,000.

Reference no: EM13482720

Questions Cloud

Rational expressio a rational expression is a fraction of : a rational expression is a fraction of two polynomials. if you need to add or subtract two rational expressions how
Rational expressio a rational expression is a fraction of : a rational expression is a fraction of two polynomials. if you need to add or subtract two rational expressions how
Prepare ais journal entry to record the issuance of the : ai corporation issued 90210 shares of 20 par value cumulative 8 preferred stock on january 1 2007 for2527500. in
Compute taxable income and income tax payable for 2011 : the following information has been obtained for the gockercorporation.1. prior to 2010 taxable income and pretax
A company purchased a machine valued at 66000 it traded in : a company purchased a machine valued at 66000. it traded in an old machine for a 9000 trade-in allowance and the
According to the net present value method of capital : investments quick and slow cost 1000 each are mutually exclusive and have the following cash flows. the firms cost of
Also bottom line is it better to pay healthcare premiums : my old job allowed me to have my health insurance premiums deductedfrom my paycheck with before tax dollars. my new job
The income statement line item that shows the performance : the income statement line item that shows the performance of operating activities without consideration of financing is
Jorge company bottles and distributes b-lite a diet soft : jorge company bottles and distributes b-lite a diet soft drink. the beverage is sold for 50 cents per 16-ounce bottle

Reviews

Write a Review

Accounting Basics Questions & Answers

  Cyrpton electronics has the capital structure consisting of

cyrpton electronics has a capital structure consisting of 41 common stock and 59 debt. a debt issue of 1000 par value

  Cash book overdraft balance

While preparing Bank Reconciliation Statement will you add or deduct the following to or from the Cash Book overdraft balance?

  Kindschuh corporation is working on its direct labor budget

kindschuh corporation is working on its direct labor budget for the next two months. each unit of output requires 0.05

  Explain the implications of basic accounting

what are the implications of the basic accounting

  Control account and subsidiry account

What is control account and subsidiry account give examples and explain its?

  Can financial statement users of not-for-profit hospitals

Can financial statement users of not-for-profit hospitals' financial statements expect to be fully informed regarding affiliated parties, such as the linkages between St. Jude Children's Research Hospital, ALSAC, and the foundation cited? Explain.

  What characteristics will automatically exclude an item

What characteristics will automatically exclude an item from being classified as inventory?

  Based on the walli 2012 article why should the development

1. based on the woodward 2012 article why should an architectural maturity model amm which looks at the present state

  Investing an annuity contract

Welz Company is investing in an annuity contract that will return $25,000 annually at the end of each year for 25 years. What amount should Welz Company pay for this investment if it earns a 8% return?

  Completing a bank reconciliation statement

When completing a bank reconciliation statement, what do you do with outstanding checks?

  What is the definition of being self-employed

What is the definition of being self-employed? What distinguishes a self-employed individual from an employee? Why is this distinction important? Explain.

  In the consideration of internal control the auditor is

in the consideration of internal control the auditor is basically concerned that internal control provides reasonable

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd