Cjs pizza purchased a delivery van on january 1 2011 for

Reference no: EM13598223

Events related to the acquisition, use, and disposal of a tangible plant asset: straight-line depreciation.CJ's Pizza purchased a delivery van on January 1, 2011, for $25,000. In addition, CJ's paid sales tax and title fees of $1,000 for the van. The van is expected to have a four-year life and a salvage value of $6,000.

a. Using the straight-line method, compute the depreciation expense for 2011 and 2012.

b. Prepare the general journal entry to record the 2011 depreciation.

c. Assume the van was sold on January 1, 2014, for $12,000. Prepare the journal entry for the sale of the van in 2014.

Reference no: EM13598223

Questions Cloud

Calculate the adjusted net income that the company should : cash 23800 debit as reported on bank statementsupplies 300 debit only 200 of supplies still existunearned revenue 1500

What are the costs of this job order in the raw materials : the job cost sheet for 1000 units of toy trucks is job number 555 date started 413 date completed 618 raw materials

Loan committee ten senior bank executives are on the loan : first eastern bank is a large calculate the cost per hour for the branch and retail banking services. eastern uses an

What is the break-even point at the following ticket prices : the organization is a nonprofit organization that promotes fairs in the area. the organization puts on three different

Cjs pizza purchased a delivery van on january 1 2011 for : events related to the acquisition use and disposal of a tangible plant asset straight-line depreciation.cjs pizza

Jws transport companys employees earn vacation time at the : jws transport companys employees earn vacation time at the rate of 1 hour per 40-hour work period. the vacation pay

What would be the total overhead cost per bouquet according : fordham florist specializes in large floral bouquets for hotels and other commercial spaces. the company has provided

Why would royal carpen cleaning accept credit cards instead : royal carpet cleaning provided 90000 of services during 2011 its first year of operations. all customers paid for the

Direct has engaged our audit engagement team to perform due : direct drugs inc. direct is planning to acquire solvgen inc. solvgen or the company a publicly owned company during the

User Account

All Pages