Journal entry for sale, Orbit Airways purchased a

Journal entry for sale

Assignment Help Accounting Basics

Reference no: EM1357984

Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit sold the truck on December 31, 2008, for $28,000 cash, after using the truck for two full years and accumulating a depreciation of $16,000. Make the journal entry to record Orbit's sale of the truck.

Reference no: EM1357984

Questions Cloud

Model of suicide intervention : Can you provide me with an overview of how someone who is not a health professional and who has no suicide intervention training might help when faced with a situation where someone is suicidal?

What is the net force on the block : You pull with a force of 295 N on a rope that is attached to the block of mass 20 kg, and the block slides across the floor at a constant speed of 1.2 m/s. The rope makes an angle of 35 degrees with the horizontal.

Explain the goal is to find an article that can stimulate : Explain the goal is to find an article that can stimulate discussion about the strengths and weaknesses of the value innovation approach to strategy.

Supply chain management - definition : Explain what supply chain management refers to and how it might differ between service type businesses and product type businesses, and between retail and manufacturing type businesses.

Journal entry for sale : Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit sold the truck on December 31, 2008, for $28,000 cash, after using the truck for two full years and accumulating a depreciation of $16,000.

Finance theory based questions : Determine the two major sources of spontaneous short-term financing for a firm and explain how do their balances behave relative to the firm's sales?

Compute mape for management''s technique : (a) Compute MAPE for management's technique, (b) Do management's results outperform (ex have smaller MAPE than) a naive forecast?, (c) Which forecast do you recommend, based on lower forecast error?

Explain cross-talk and other forms of interference : Cross-talk, and other forms of interference are a significant issue in any communications infrastructure. Compare and contrast how this problem would manifest for analog data transmitted

Acquisition of the dandy dime : When one media company buys another, goodwill is often the most costly asset acquired. World media paid $700,000 to acquire-Journalize World Media's acquisition of The Dandy Dime.

User Account

All Pages