User Account

All Pages

How much is the gain for the equipment sale

Assignment Help Accounting Basics
Reference no: EM132589383

Question - Adelphi Company purchased a machine on January 1, 2017, for $70,000. 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 $26,000. 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: EM132589383

Questions Cloud

Find which case portfolio standard deviation be smallest : The portfolio weight is 50% for each of the two assets. In which case will the portfolio standard deviation be smallest? The correlation between the two asset.
Determine total payroll tax expense for Baltimore Company : Use this information to determine the total payroll tax expense for Baltimore Company as related to Barbara's earnings. (Round to the closest cent)
How could implement strategies : How one could implement strategies that will assist in the achievement of professional goals such as changing careers or trying to get a promotion.
What is the future value : What is the future value of $4,900 invested for 8 years at a 7% interest rate?
How much is the gain for the equipment sale : Adelphi uses the double declining method for depreciation. Using this information, how much is the gain or (loss) for the equipment sale entry
Which case will portfolio standard deviation be the smallest : Standard deviation of 0.20. The portfolio weight is 50% for each of the two assets. In which case will the portfolio standard deviation be the smallest?
Types of financing resources for healthcare organizations : Identify three major types of financing resources for healthcare organizations. Evaluate how each of these sources affects how organization delivers healthcare
What is the implied risk-free rate of interest : A box spread is created using options with strike prices of $80 and $90. The options expire in 3 months and the initial investment
Determine the dollar value for ending inventory : Using the LIFO method, determine the dollar value for Ending Inventory at the end of month of May. Round to the nearest cent

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