Solution-Prepare all entries that are necessary at april

Prepare all entries that are necessary at april

Reference no: EM132004115

Question - A machine cost $240,000 has annual depreciation expense of $48,000 and has accumulated depreciation of $120,000 on December 31, 2014. On april 1, 2015 when the machine has a fair value of $96,000 it is exchanged for a similar machine with a fair value of $288,000 and the proper amount of cash is paid. The exchange lacked commercial substance. Prepare all entries that are necessary at April 1, 2015.

Reference no: EM132004115

Questions Cloud

Why is it essential to be in dialogue with others : Why is it essential to be 'in dialogue with others' and discus what others are saying or what they say about an issue?

How is the food pantry created by sara at saint gregory : How is the food pantry created by Sara at Saint Gregory's similar to the act of communion in the book Take this Bread by Sara Miles?

Issue of preferred stock outstanding : Moraine, Inc., has an issue of preferred stock outstanding that pays a $6.43 dividend every year in perpetuity. what is the required return?

Consideration of the ethics involved in conducting the study : Why do mixed-methods studies require special consideration of the ethics involved in conducting the study? Explain, using an example to support your claims.

Prepare all entries that are necessary at april : The exchange lacked commercial substance. Prepare all entries that are necessary at April 1, 2015

Advantages of conducting a mixed-methods study : What are the general advantages of conducting a mixed-methods study, rather than two or more different studies, to address a single research question?

Taking notes and organizing those notes : Conducting rigorous historical research involves more than reading historical documents, taking notes, and organizing those notes. Explain

Mature manufacturing firm : Antiques R Us is a mature manufacturing firm.

Discuss about the formal group therapy : For this discussion, describe key differences between formal group therapy in a treatment setting and support groups found in the community.

Reviews

Write a Review

Required(*) Message

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

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

User Account

All Pages

Prepare all entries that are necessary at april

Reference no: EM132004115

Reference no: EM132004115

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT