User Account

All Pages

Construct the journal entry for dec

Assignment Help Financial Accounting
Reference no: EM132531352

  • An equipment , with initial value 80,000 and accum depn of 34,000 in 31 december 2016 the company had impairment tests for the Equipment The recoverable amount of Equipment was assessed as $43,000
  • The Equipment is measured based on the cost model company tax rate is 30%

Question 1: Prepare the journal entry for 31 dec 2016

Question 2: Should we do the dtl / dta adjustment , please give me the reason ( if yes , please give the journal entry too )

Reference no: EM132531352

Questions Cloud

Calculate the duration of the financial instrument at yield : Calculate the duration of the financial instrument at a yield of 7% pa compounded yearly. Give your answer in years to 2 decimal places.
Trade flourishes concentrate efforts on child-sex tourists : In an attempt to put an end to the child sex trade, should law enforcement in countries where this trade flourishes concentrate efforts on the child-sex tourist
Calculate the duration of the portfolio : Calculate the duration of the portfolio. a bond with face value of $100.00 paying annual coupons of 6% maturing in 5 years, an annuity with payments
Establish a linear relationship between the two variables : What sampling method could the researcher use to select his/her sample and why and What type of survey method the researcher could use and why
Construct the journal entry for dec : Should we do the dtl / dta adjustment , please give me the reason ( if yes , please give the journal entry too ).Prepare the journal entry for 31 dec 2016
Prepare partial amortization schedule of first 3 months : You want to buy a car and a local bank offered to lend you Rs.1, 440,000 repayable in five years in monthly instalments. The loan would be fully amortized
How much gross profit should be reported : How much gross profit should be reported for 2013? Show your computation. How much revenue should be reported for 2012? Show your computation.
What is the accounting and ethical problem for Eduardo : Eduardo Garcia has just been hired as the controller for Toro Enterprises. What is the accounting and ethical problem for Eduardo
Compute the gain or loss on the disposal of shares : Compute the gain or loss on the disposal of shares for Chocolate Bhd's financial statements and for the group's consolidated financial statements.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Which factors of production gain and factors of production

Which factors of production gain and which factors of production lose when trade arises between these two countries?

  What is the amount of loss isaac can claim in 2011

According to Rosenspan v. United States (438 F.2d 905 (2d Cir. 1971), for purposes of I.R.C Sec. 162, is her home in City or Metro? Why?

  Determine amount to be shown within non-current liabilities

The annual payment was RM10,975 in arrears. Determine the amount to be shown within non-current liabilities at 31 October 20x3.

  Evaluate how these losses will affect the taxable income

Evaluate how these losses will affect the taxable income of the two owners

  How much cash or in millions would have generated

Weber Interstate Pavingso that it was operating at full capacity, with sales held constant at $450 million, how much cash (in millions) would it have generated?

  What annual interest rate will you earn

If you buy a 13-week T-bill with a maturity value of $5000 for $4,922.15 from the U.S. Treasury Department, what annual interest rate will you earn?

  Controller of company that sells inventory

Suppose you are the controller of a company that sells inventory. Suppose, too, that the economy currently enters a period of high inflation. Although profits are higher this year than last year, you realize that the cost to replace inventory is also..

  Evaluate each method in terms of its effect on cash flows

Evaluate each method in terms of its effect on cash flows, fixed asset turnover, and earnings per share. Assuming that the company is most interested in maintaining a high EPS during year

  Compute the appropriate discount rate

Compute the appropriate discount rate to use when evaluating DEI's project and the manufacturing plant has an eight-year tax life. At end of the project (i.e. the end of Year 5), the plant can be scrapped for $2 million. Find the after-tax salvage ..

  Independent situations

LO.1 Shonda owns 1,000 of the 1,500 shares outstanding in Rook Corporation (E & P of $1 million). Shonda paid $50 per share for the stock seven years ago. The remaining stock in Rook is owned by unrelated individuals. What are the tax consequences to..

  When corporation declares property dividend

When a corporation declares a property dividend, the corporation should: Divide the property equally among all stockholders. Record the dividend by debiting retained earnings for an amount equal to the fair value of the property to be distributed.

  The journal entry to record the flow of costs

Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000..

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