Reference no: EM132509685
Question - Presented below are selected transactions for Werley Company for 2019.
Jan. 1 Sold a machinery for $9,000 that was purchased on January 1, 2010. The machine cost $90,000 on that date, and had a useful life of 10 years with no salvage value.
April 30 Sold equipment for $34,000 that was purchased on January 1, 2017. The equipment cost $90,000, and had a useful life of 5 years with no salvage value.
Dec. 1 Discarded a business automobile that was purchased on April 1, 2016. The car cost $27,000 and was depreciated on a 5-year useful life with a salvage value of $2,000.
Instructions - Journalize all entries required as a result of the above transactions. Werley Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2019.
|
Prepare the adjusting journal entry on December
: Sunland Corporation issued $3.36 million of 7-year, 3% bonds dated January 1, 2021, for $2,967,185. Prepare the adjusting journal entry on December
|
|
What should Mack pay for each bike
: If the manufacturer's list price is $687, what should Mack pay for each bike if he orders 110 bikes at a time, assembles the bikes
|
|
Compute a predetermined overhead rate for the plant
: Compute a predetermined overhead rate for the plant as a whole based on machine hours. Round your answer to two decimal places.
|
|
Idea of the collaborative organization is discussed
: Idea of collaborative organization is discussed.How can your organization, organization that you are familiar with benefit from being collaborative organization
|
|
Journalize all entries required as a result
: Journalize all entries required as a result of the above transactions. Werley Company uses the straight-line method of depreciation
|
|
What is the result of the disposal transaction
: Question - A copy machine cost $46,000 when new and has accumulated depreciation of $40,000. What is the result of the disposal transaction
|
|
Explain how to do a statement of cost of goods manufactured
: Explain how to do a statement of cost of goods manufactured. Refer to the list of Labels and Amount Descriptions for the exact wording of text
|
|
What is the expected total transaction price
: Emmet uses the expected value approach to calculate variable consideration. What is the expected total transaction price for the full contract under Option A
|
|
Working capital management
: Many newly minted college graduates work in positions that focus on working capital management, particularly in small businesses
|