Reference no: EM131118158
1. Entries for Disposition of Assets On December 31, 2010, Chrysler Inc. has a machine with a book value of $940,000. The original cost and related accumulated depreciation at this date are as follows.
Machine $1,300,000
Accumulated depreciation 360,000
Book value $940,000
Depreciation is computed at $72,000 per year on a straight-line basis Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.
(a) A fire completely destroys the machine on August 31, 2011. An insurance settlement of $630,000 was received for this casualty. Assume the settlement was received immediately.
(b) On April 1, 2011, Chrysler sold the machine for $1,040,000 to Avanti Company.
(c) On July 31, 2011, the company donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be $1,100,000.
|
Brick by brick-inside lego
: Write a 600 word analysis. Please watch the "Brick by Brick: Inside Lego" video. (A link the the video is provided below). Once you have watched the video, please explain how Lego engineered its turn-around by becoming both more product focused an..
|
|
Prepare the journal entries to record the transactions
: The new land cost $90,000, and the new building cost $380,000.Prepare the journal entries to record the transactions on April 1 and August 1, 2010.
|
|
Can a soda really make the world a better place
: Read the case "Pepsi: Can a Soda Really Make the World a Better Place?" on pages 495 to 497 of the textbook and prepare answers to the questions below. Do not answer the questions at the end of the case in the textbook.
|
|
Fill in the missing cells of the table
: Test that there is no association between gender and the likelihood of trying a low-fat diet. Summarize the results.
|
|
Entries for disposition of assets on december
: A fire completely destroys the machine on August 31, 2011. An insurance settlement of $630,000 was received for this casualty. Assume the settlement was received immediately.
|
|
Estimate the area under the graph of the given function
: Estimate the area under the graph of the given function on the stated interval as instructed.
|
|
Global brands in a very competitive market
: Choose two global brands in a very competitive market. Compare and contrast how each company approaches marketing. Briefly describe each company and discuss whether each brand integrates differentiation into its marketing communications.
|
|
Read article- the general ethical principles of psychologist
: Prepare a research proposal for one of Pavlov's research experiments involving children, adjusting it for current principles of ethical guidelines. Read the article "The General Ethical Principles of Psychologists" found in this week's Electronic R..
|
|
Examine cultural-economic-technological
: Select a well-known American product and evaluate the potential to sell the product in a country outside the United States (where it is not sold presently). Examine cultural, economic, technological, and legal factors that could affect the success..
|