User Account

All Pages

How much is the gain equipment sale entry made on january

Assignment Help Accounting Basics
Reference no: EM132807971

Problem 1: Adelphi Company purchased a machine on January 1, 2017, for $80,000. The machine was estimated to have a service life of ten years with an estimated residual value of $5,000. Adelphi sold the machine on January 1, 2021 for $21,000. Adelphi uses the double declining method for depreciation. Using this information, how much is the gain or (loss) for the equipment sale entry made on January 1, 2021. Enter a loss as a negative number.

Reference no: EM132807971

Questions Cloud

What amount of interest revenue should the company report : Gaudreau Enterprises, What amount of interest revenue should the company report on its December 31, 20X3, year-end financial statements?
The us politics of global conflicts : Explain the role of the legislative branch while involved in this conflict. Should the legislative branch be more or less involved than it has been?
What amount should textron recognize as gross profit : Textron Inc., What amount should Textron recognize as gross profit (the profit element) for the December 31, 20X2, fiscal year?
Define office automation : 1) Office automation has revolutionized the office environment empowering the office worker to increase their productivity.
How much is the gain equipment sale entry made on january : Adelphi Company purchased a machine on January 1, 2017, How much is the gain or (loss) for the equipment sale entry made on January 1, 2021.
Identity-based motivation theory : According to identity-based motivation theory, interpretation of experience difficulty matters. How does this affect behavior?
You think hypothesis testing contributes : What value do you think hypothesis testing contributes to the presentation and analysis of research data
Calculate the copy department costs allocated to sales : Assuming copies were made during the year, 2,721,000 for sales and 2,457,750 for administration, calculate the copy department costs allocated to sales.
How the function of homeland security : Explain, as specifically as possible, how the function of homeland security is managed at the state and local levels.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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