User Account

All Pages

Journalize all entries required on the given dates

Assignment Help Accounting Basics
Reference no: EM131808829

Problem - Presented below are selected transactions at Ridge Company for 2014.

Jan. 1 Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $63,810 on that date. It had a useful life of 10 years with no salvage value.

June 30 Sold a computer that was purchased on January 1, 2011. The computer cost $36,800. It had a useful life of 5 years with no salvage value. The computer was sold for $13,760.

Dec. 31 Discarded a delivery truck that was purchased on January 1, 2010. The truck cost $39,770. It was depreciated based on a 6-year useful life with a $2,930 salvage value.

Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ridge Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2013.)

Reference no: EM131808829

Questions Cloud

Violations of securities laws : Karel Svoboda, a credit officer for Rogue Bank, evaluated and approved his employer's extensions of credit to clients.
Prepare the net cash flow from operating activities section : Prepare the net cash flow from operating activities section of Tyrone's 2016 statement of cash flows using the indirect method
Economics of ocean spray business : How does call ncern for the environment affect the economics of ocean spray business?
Which hypothesis has been rejected : Do employees take more sick leave in the year before retirement? They may well have an incentive to do so if their accumulated paid sick leave.
Journalize all entries required on the given dates : Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of Ridge Company
How that strategy would be employed : What strategy your chosen company should utilize to expand globally and how that strategy would be employed?
There was heavy rainfall causing floods enroute : Transport manager instructs truck driver to use Route 1 from Point A to Point B. On the way, there was heavy rainfall causing floods enroute.
Major consumer technology corporation : You are the CEO of a major consumer technology corporation. The company is global and offers remote employment, in addition to numerous physical
Country is almost divided in half in terms of states : Since the country is almost divided in half in terms of states with and with right-to-work laws in America,

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