Reference no: EM13913622
On January 1, 2009, Vadar Company purchased all of the stock of Yoda Company. On January 1, 2011, Vadar Company purchased a truck for $45,000, this truck is expected to last 9 years with no salvage value; Vadar uses straight line depreciation On January 1, 2014, Vadar Company sells this truck to Yoda Company for $36,000. Yoda expects the truck to last 6 years with no salvage. . Vadar received a 10% note in exchange for the truck with interest due each January 1st and the principle due January 1, 2016. On January 1, 2017, Yoda sold the truck to a foreign company for $22,000.
REQUIRED:
MAKE THE JOURNAL ENTRY VADAR MADE WHEN IT BOUGHT THE TRUCK FOR CASH
WHAT IS THE ANNUAL DEPRECIATION VADAR TAKES ON THE TRUCK?
MAKE THE JOURNAL ENTRY VADAR MAKES WHEN IT SELLS THE TRUCK TO YODA
MAKE THE JOURNAL ENTRY YODA MAKES WHEN IT BUYS THE TRUCK
MAKE THE ADJUSTING ENTRY YODA MAKES ON 12/31/14 FOR THE NOTE PAYABLE
MAKE THE ADJUSTING ENTRY VADAR MAKES ON 12/31/14 FOR THE NOTE RECEIVABLE
WHAT IS THE ANNUAL DEPRECIATION YODA TAKES ON THE TRUCK?
MAKE THE NECESSARY WORKSHEET ENTRIES FOR 2014 MAKE THE NECESSARY WORKSHEET ENTRIES FOR 2015
MAKE THE JOURNAL ENTRIES YODA MAKES ON 1/1/16 WHEN IT PAYS THE INTEREST AND PAYS OFF THE NOTE
MAKE THE JOURNAL ENTRIES VADAR MAKES ON 1/1/16 WHEN IT COLLECTS INTEREST AND HAS THE NOTE PAID OFF
MAKE THE NECESSARY WORKSHEET ENTRIES FOR 2016
MAKE THE ENTRY YODA MAKES WHEN IT SELLS THE TRUCK IN 2017
MAKE THE NECESSARY WORKSHEET ENTRIES FOR 2017
|
What is the amount of the principle of the swaps
: A Korean bank’s balance sheet is the following. (Ignore other items.) If the company is afraidof depreciation of US dollar against KRW, what type of swap arrangement do you suggestwhen US interest rate is expected to be stable? What is the amount of ..
|
|
Changing interest rate
: Allocates bond interest expense over the bond's life using a changing interest rate.
|
|
Global minimum risk portfolio with investment in two stocks
: The prices and other information of two stocks in the market are listed in the table: You have $100 of your own money that you are going to invest in the market according to one of two trading strategies. In strategy A, you use margin purchase by bor..
|
|
Cost of materials attributable
: Whitewater Co. is a U.S. company with sales to Canada amounting to C$8 million. Its cost of materials attributable to the purchase of Canadian goods is C$6 million. Its interest expense on Canadian loans is C$4 million. Given these exact figures abov..
|
|
Necessary worksheet entries
: MAKE THE NECESSARY WORKSHEET ENTRIES FOR 2016
|
|
Barton corporation issued
: On January 1 of the current year, the Barton Corporation issued 10% bonds with a face value of $200,000. The bonds are sold for $191,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31
|
|
The prices and other information of two stocks in market
: The prices and other information of two stocks in the market are listed in the table: Stock BHP: Price at year beginning ($50) Forecasted price at year end ($52) Forecasted dividend in the year ($3) Variance of returns (9%) Stock CBA: Price at year b..
|
|
Assume that interest rate parity holds
: Assume that interest rate parity holds and that 90-day risk-free securities yield 3% in the United States and 3.6% in Germany. In the spot market, 1 euro equals $1.38 dollar. Is the 90-day forward rate trading at a premium or discount relative to the..
|
|
A supplementary payroll sheet that lists
: Adams, Inc., pays its employees' weekly wages in cash. A supplementary payroll sheet that lists the employees' names and their earnings for a certain week is shown below.
|