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Question - Sold a desk to Jim Adams for $250. Jim will pay this amount to Waren in January of 2018. The desk was purchased for a cost of $1,225 on September 30, 2011 along with other furniture costing $49,525 (total purchase of $50,750). The desk was fully depreciated at the end of 2016.
Please answer how to do the journal entry in this transaction. Journal entries related to Gain/Loss and Depreciation of fixed asset.
rainwater corp. expects to sell 560 umbrellas in may and 440 in june. each umbrella sells for 15. rainwateru2019s
If the general business credit generated by activities during 2016 equals $36,000. What is the amount of unused credit carried forward to 2017?
mikhail chordan purchased a piece of gold furniture worth 278000 for his office on october 15 2012. assuming i mikhail
Alpha Ltd was incorporated in 20X1, with a paid-up capital of 5,000,000 ordinary shares. Compute the basic earnings per share for the year 20X4
keller co. manufactures a product with a unit variable cost of 150 and a unit sales price of 264. fixed manufacturing
Restate the income statements to reflect the correct amounts, after fixing the inventory error. Compute the gross profit percentage for each quarter (a) before the correction and (b) after the correction, rounding to the nearest percentage. Do the re..
Hartford Research issues bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31
Its unamortized cost on Royce's books was $800,000. In Klein's 2014 income statement, what amount should be reported as amortization expense
Write a paper (750-1,000 words) that explains the relationship between finance and accounting, and how they operate to determine financial viability within a health care organization.
Explain any defenses that Svoboda and Robles could raise and the likely success of the defense.
On May 10, the company purchased inventory from Jay Company for $70,000, terms 3/10, n/30. Purchases and accounts payable are recorded at net amounts (perpetual method is used). The invoice was paid on May 18. Instructions: 1. Prepare the Journal ..
What is purpose of a balanced scorecard and describe four perspectives of the balanced scorecard? Explain the difference between lag measures and lead measures?
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