Reference no: EM132451066
Problem 1 - Wang Co. has delivery equipment that cost $47,570 and has been depreciated $23,170.
Record entries for the disposal under the following assumptions.
(a) It was scrapped as having no value.
(b) It was sold for $36,780.
(c) It was sold for $19,050.
Problem 2 - Here are selected 2014 transactions of Cleland Corporation.
Jan. 1 Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $61,740 and had a useful life of 10 years with no salvage value.
June 30 Sold a computer that was purchased on January 1, 2012. The computer cost $35,800 and had a useful life of 4 years with no salvage value. The computer was sold for $4,120 cash.
Dec. 31 Sold a delivery truck for $9,270 cash. The truck cost $23,820 when it was purchased on January 1, 2011, and was depreciated based on a 5-year useful life with a $3,230 salvage value.
Required - Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Cleland Corporation uses straight-line depreciation.
|
Trouble understanding spoken english
: Walter, a 76 year old Polish client is a practicing Lutheran who is fluent in both Polish and German. He has trouble understanding spoken English.
|
|
Discuss relative to ethics and financial reporting
: Consider what you have learned relative to ethics and financial reporting. What is the rationale for the calculations/process used to estimate the $180,000
|
|
What improve corporate governance in the us in general
: In general, what would you recommend to improve corporate governance in the US in general? More regulation from the government or let the markets fix it
|
|
List at least 3 differential diagnoses
: What are some specific exam techniques that should be used when examining this patient? What is the rationale behind some of these assessment techniques?
|
|
Journalize all entries required on the given dates
: Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable
|
|
Identify what these behaviours are signs of
: Identify what these behaviours are signs of, and describe how the support worker should respond in line with organisation requirements.
|
|
Discuss about barry minkow
: Discuss about Barry Minkow. what do you think about his actions? Is it ethical? Do you believe he was a good businessman?facts about Barry Minkow
|
|
What is the current ratio after the payment of the dividend
: A company has current assets of $604,000 and current liabilities of $218,000. What is the current ratio after the payment of the dividend
|
|
Prepare a partial balance sheet for nike
: Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2014. Prepare a partial balance sheet for Nike
|