User Account

All Pages

Journalize the exchange for delmar company

Assignment Help Accounting Basics
Reference no: EM13141885

Delmar Company and Hamilton Company exchanged forklifts on january 1, 2011. Delmar's forklift cost $33,600, had accumulated depreciation of $27,600, and has a fair market value of $3,600. Hamilton's forklift cost $25,200, had accumulated depreciation of $21,600, and has a fair market value of $3,600.

Instructions:

a- journalize the exchange for Delmar Company.

b- journalize the exchange for Hamilton Company.

Reference no: EM13141885

Questions Cloud

Where do the citric acid cycle reactions take place : Where do the citric acid cycle reactions take place A) Mitochondria B) extracellular fluid (ECF) C) citrate capsules D) Cytosol E) Glycolysis.
An argumentative essay about education : an argumentative essay about Education
Cumulative feature of preferred stock : The cumulative feature of preferred stock. limits the amount of cumulative dividends to the par value of the preferred stock.
Present global financial crisis would affect the country : Evaluate their skills on analytical aspects of research. The semester essay contributes towards developing the research capability of students.
Journalize the exchange for delmar company : Delmar's forklift cost $33,600, had accumulated depreciation of $27,600, and has a fair market value of $3,600. Hamilton's forklift cost $25,200, had accumulated depreciation of $21,600, and has a fair market value of $3,600. a- journalize the exc..
Use normal for binomial with a correction for continuity : If a random sample of 40 voters is chosen, approx. the probability that more than 20 favor this candidate. Use the normal approximation to the binomial with a correction for continuity.
Describe one diference between action potentials produced : describe one diference between the action potentials produced by cardiac contractile cells and the action potentials produced by skeletal muscle fibers. PLEASE BE SPECIFIC.
Alternatives on basis of their capitalized cost : Compare the following alternatives on the basis of their capitalized cost at an interest rate of 10% per year.
You have been engaged as a project manager : You have been engaged as a project manager to scope a project which will analyze the freight currently handled by WPFK Transport. The broad project brief is to find what volume of freight (number of pallets) goes between each depot.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the difference between unit-level and batch-level

What is the difference between: unit-level, batch-level, product-level, and facility-level activities?

  Variable interest in a variable interest entity

An enterprise that holds a variable interest in a variable interest entity (vie) is required to consolidate the assets, liabilities, revenues, expenses, and noncontrolling interest of that entity if:

  Stacks of inventory

As Jonah wades through huge piles of the inventory and questions the team on operations, he quickly identifies the problem. Which of the implemented methods above does Jonah contribute to stacks of inventory?

  Cost of goods sold problem

It is estimates that 16% of the cost of goods sold represents fixed factory overhead costs and that 20% of the operating expenses are fixed. Since Royal Cola is only one of many products, the fixed costs will not be materially afected if the produ..

  Determining asset impairment loss

General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site-Determine the amount of impairment loss

  Determine the amount rex must include in gross income

The plan has a $2,000 deductible, but his employer contributed $1,500 to Rex' s HAS. Rex withdrew only $800 from the HAS, and the account earned $50 interest during the year.

  Discuss the rationale underlying the design

Discuss the rationale underlying the design of the performance report you chose.

  Accounts receivable and cash sales

Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with remaining 40% collected in the following month. What is the total cash collected (both from accounts receivable and for cash sales) in the month of January?

  Respect to conversion costs

Ending inventory consisted of 5,000 units which were 80% complete with respect to materials and 60% complete with respect to conversion costs.

  Costs of rent and utilities

Imagine a invester has increased your budget by $22,500. The investor does not need to be repaid. Rather, he becomes part owner of your business. Will the investor contribute enough money to meet the costs of rent and utilities? Support your answe..

  Fundamental accounting model

What is the fundamental accounting model? Explain what debit and credit mean? What is a journal entry?

  Creating financial statements in excel

The following procedure is recommended when creating financial statements in Excel, in order to minimize error and make the statements easier to read when provided to others:

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