Prepare journal entries if related to martinez deprecition

Assignment Help Accounting Basics
Reference no: EM132574389

Martinez, Inc. changed depreciation methods in 2017 from straight-line to double-declining-balance. Depreciation prior to 2017 under straight-line was $140,000, whereas double-declining-balance depreciation prior to 2017 would have been $206,800. Martinez's depreciable assets had a cost of $517,000 with a $27,000 salvage value, and a 5-year remaining useful life at the beginning of 2017.

Question 1: Prepare the 2017 journal entries, if any, related to Martinez's depreciable assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Reference no: EM132574389

Questions Cloud

What are the benefits of having a petty cash fund : What are the benefits of having a petty cash fund instead of paying small expenses from the cash register receipts? What policies and procedures should R
Forms of intellectual intangible property protection : Identify and explain the forms of intellectual intangible property protection pursuant to the Chapter reading.
Discuss the council management system : A system that allows logging in and making a meeting between members and the chairman of the committee also visitors outside the university and the secretary.
Discuss the top information systems used in business today : In 175 words or more discuss the top information systems used in business today. What do these information systems have in common?
Prepare journal entries if related to martinez deprecition : Prepare the 2017 journal entries, if any, related to Martinez's depreciable assets. (Credit account titles are automatically indented when amount is entered)
Purchasing and supply management professional : Interview a Purchasing and Supply Management Professional Interview a purchasing and supply management professional in a private
What is the relationship between qa-qc and risk management : Data sustains an organizations business processes and enables it to deliver products and services. Stop the flow of data and for many companies, business comes.
How does an auditor test the quantity : How does an auditor test the price, what type of supporting documentation would an auditor request from a client to be able to perform such tests?
Prepare a flowchart for handling an online registration : Karen Adams, a former student at the local college, has been expanding her business, Great Day Fitness Tracking, in the college's business incubator.

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd