User Account

All Pages

Calculate the equipment carrying amount at december

Assignment Help Financial Accounting
Reference no: EM132773246

Pharoah Technology purchased equipment on January 4, 2015, for $251,600. The equipment had an estimated useful life of 8 years and a residual value of $9,710. The company has a December 31 year end and uses straight-line depreciation. On December 31, 2017, the company tests for impairment and determines that the equipment's recoverable amount is $99,160.

Problem (a) Calculate the equipment's carrying amount at December 31, 2017 (after recording the annual depreciation). (Round answers to 0 decimal places, e.g. 5,275.)

Reference no: EM132773246

Questions Cloud

Explain how will utilize public finance and budgeting : How do you feel eliminating the income tax and applying a consumption tax will broaden the tax base? Explain the why or why not?
Calculate the depreciation expense for oriole pants company : Calculate the depreciation expense for each year of the equipment's life.(Round depreciation rate to 2 decimal places for all calculations)
What is the adjusted book balance on November : In the course of our audit of SOCIALDISTANCING Inc.'s cash in bank for the year ended December 31, 2019, What is the adjusted book balance on November
How the proposed strategy could be evaluated : Now that you have formulated your strategy for your chicken and egg (poultry) farm , your team wants to know how the proposed strategy could be evaluated.
Calculate the equipment carrying amount at december : Calculate the equipment's carrying amount at December 31, 2017.Pharoah Technology purchased equipment on January 4, 2015, for $251,600.
CO4610 Foundations of Cybersecurity Concepts Assignment : CO4610 Foundations of Cybersecurity Concepts Assignment Help and Solution, University Of Chester - Assessment Writing Service
Describe the tax consequences of the bonus declaration : The bonus will be paid on February 1, 2020. Describe the tax consequences of this bonus declaration and payment on both Stan Gable and Brock Inc
Explain the benefits of a performance management system : Scenario, explain the benefits of a performance management system in terms of employee and organizational success.
How record cost method journal entry to record acquisition : How do Record the cost method journal entry to record the acquisition on Newer's books. On January 1, 2020, New Inc. buys 10% of Newer Co.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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