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Millworks Company owns a milling machine that cost $125,000 and has accumulated depreciation of $91,000. Prepare the entry to record the disposal of the milling machine on January 5 under each of the following independent situations.
1. The machine needed extensive repairs, and it was not worth repairing. Millworks disposed of the machine, receiving nothing in return.
2. Millworks sold the machine for $17,500 cash.
3. Millworks sold the machine for $34,000 cash.
4. Millworks sold the machine for $40,000 cash.
Compute the new weighted-average contribution margin per ticket and calculate the total number of tickets Wet Weekend must sell to break even.
Social Security taxes: 4% on the first $55,000 earned per employee and the company incurred a salary expense of $50,000 during February. how do I calculate the social security taxes for the journal entry.
Evaluate the detail information - Prepare easy fictitious financial statements and write notes for the fictitious annual report.
Current ratio. The following data was taken from the 2008 and 2007 financial statements of Fancy Fish Stores Inc. Calculate the current ratio for each year. What happened to the company"s liquidity from 2007 to 2008?
q1. the reluctance of managers to lay off employees when activity declines in the short-run leads to an increase
Calculate the basic earnings per share of common stock for fiscal 2010.
Stigler's 'private interest theory' proposes that regulatory bodies (including accounting standard setters) are made up of individuals who are self-interested, and these individuals will introduce regulation that best serves their own self-interest.
questionluke valued and sold at 210000. his original basis in the land was 180000.for the land luke received 60000 in
Partridge does not maintain perpetual inventory records. According to a physical count, 365 units were on hand at January 31. Calculate the cost of the inventory at January 31, under the FIFO method.
These dividends are paid on 7/1/12. For period of 1/1/12 to 12/31/12 Company XYZ has a net loss of $600,000 and market price of its shares is $12 for each share.
questionthe farmer companys comparative balance sheets for 2010 and 2011 and additional information are presented
Pacifica will maintain Seguros as a wholly owned subsidiary with its own legal and accounting identify. the consideration transferred to the owner of Seguros included 50000 newly issued Pacifica commom shares ($20 market value, $5 par value) and a..
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