Find the entry to record the sale would include a

Assignment Help Accounting Basics
Reference no: EM132589738

Question 1: On July 1, 2017 a truck was sold for $10,000. The company originally paid $28,000 on June 30, 2010 and has recorded accumulated depreciation on it to date of $15,000. The entry to record the sale would include a

a) credit to accumulated depreciation for $15,000.

b) debit to trucks for $28,000.

c) credit to gain on sale of truck for $3,000.

d) debit to loss on sale of truck for $3,000.

Reference no: EM132589738

Questions Cloud

Find out what is next cash flow from operating activities : Find out what is the next cash flow from operating activities? SEAT manufacturing company ltd reported a net income of Rs, 80,000/-
Expected return of market portfolio : The risk free rate is 3% per annum. The expected return of market portfolio is 9% per annum. There is a security with current price
Describe the value in strength-based solutions : The first step in helping a client is conducting a thorough assessment. The clinical social worker must explore multiple perspectives in order to develop.
Write interpretation on given sortino ratio : Write interpretation on given Sortino ratio of below mutualfund
Find the entry to record the sale would include a : Paid $28,000 on June 30, 2010 and has recorded accumulated depreciation on it to date of $15,000. The entry to record the sale would include a
Explain some of the myths regarding older adults : Throughout this course we examined development through the lens of the life-span. For this week we took a closer look at older adults. The perceptions about.
How a new venture is assessed to qualify as project finance : How a new venture is assessed to qualify as project finance. What are the factors that needed to be considered?
Fns40815 certificate iv in finance and mortgage broking : Using comparison websites is a good way to obtain up-to-date information about financial products and services.
Which statement regarding the liquidation transactions : Independent qualified appraisers is USD650,000 and USD1,300,000 respectively. The following statement regarding the above liquidation transactions is EXCEPT

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd