User Account

All Pages

Prepare any entry needed to account for this change

Assignment Help Accounting Basics
Reference no: EM132060177

Question - Gundrum Company purchased equipment on January 1, 2012 for $888,200. the equipment was expected to have a useful life of 10 years and a salvage value of $ 29,000. Gundrum uses the straight-line method of depreciation. At the beginning of 2017, Gundrum determined the total estimated life of the equipment was 13 years and the residual value would be $ 10,000 at the end of that time.

Required: Prepare any entry needed in 2017 to account for this change.

Reference no: EM132060177

Questions Cloud

Compute the equivalent units of productions for materials : Compute the equivalent units of productions for materials and conversion costs for the month of September
What is the number of people in the labor force : Calculate: If there are 330 million people living in the U.S, and 280 million are eligible workers while 60 million are considered discouraged workers
Which three subfields interest you the least : What personal characteristics (knowledge, skills, abilities) do you possess that might make these areas a good fit for you?
Economies or diseconomies of scale : Describe an activity or process or product of your chosen company that exhibits economies or diseconomies of scale.
Prepare any entry needed to account for this change : Gundrum Company purchased equipment on January 1, 2012 for $888,200. Prepare any entry needed in 2017 to account for this change
What might have happened in the federal reserves bank : What might have happened in the Federal Reserves Bank Chariman, Ben Bernanke hadn't stepped in during the financial crisis in 2008?
Explain the terms quality of earnings : xplain the terms "quality of earnings" and discuss how management can influence earnings legally
Why is texas known for being good for this good or service : What good or service is Texas known for exporting and where does it export the good or service too. Why is Texas known for being good for this good or service.
Implications on the asset returns : Lastly, what are the assumptions it postulates about the market, and what are its implications on the asset returns.

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