Abc company has office furniture that cost 40000 an

Assignment Help Accounting Basics

Reference no: EM13454525

ABC Company has office furniture that cost $40,000, an estimated life of 10 years and a $4,000 salvage value. As of January 1, 2010, accumulated depreciation on the furniture amounts to $30,600. The straight line depreciation method is used. On April 1, 2010, ABC sold the furniture for $9,000.

A) April 1, 2010 - entry to record depreciation for current year

B) Calculate the gain or loss

C) Journalize the entry to record the sale

Reference no: EM13454525

Questions Cloud

Determine the basic premise of bill and what has happened : the texas legislature is meeting right now and by the time you are ready to work on this assignment many bills will be

Grand masters of the renaissancenbsp please respond to the : grand masters of the renaissancenbsp please respond to the following using sources under the explore heading as the

This assignment uses the information you have gathered for : this assignment uses the information you have gathered for your weekly world view chart assignment. choose one

Suppose that the responsibility of the director of : assume the responsibility of the director of environmental protection agency epa. list the most important actions for

Abc company has office furniture that cost 40000 an : abc company has office furniture that cost 40000 an estimated life of 10 years and a 4000 salvage value. as of january

Why nominal gdp increased faster than real gdp in united : why has nominal gdp increased faster than real gdp in the united states over time? what would it mean if an economy had

Our text discusses hegemony and defines it as the process : our text discusses hegemony and defines it as the process by which the dominant culture takes over and shifts the

Explain why has the ability to produce lactase as an adult : a why did mammals including humans evolve to produce lactase as children but not adults?b why has the ability to

There are many economic factors which lead to lower wage : wages in the united states and other industrially advanced countries tend to be higher than wages for similar jobs in

User Account

All Pages