User Account

All Pages

Prepare the journal entry to record depreciation expense

Assignment Help Accounting Basics
Reference no: EM132708447

Question - Irons deliver inc purchased a new delivery truck for 42,000 on 01/01/19. The truck is expected to have a 2000 residual value at the end of the its 5 year useful life. Irons uses the straight line method of depreciation.

Required - Prepare the journal entry to record depreciation expense for 2019 and 2020?

Reference no: EM132708447

Questions Cloud

What is the current share price for spear-it inc : The company will maintain a constant 2% growth rate in dividends in perpetuity. If the required return on the stock is 5%, what is the current share price?
Determine the depreciation expense : Revision of Depreciation - On January 1, 2017, Slade Inc. purchased a machine for $90,000. Determine the depreciation expense for 2019
How much does a share of preferred stock cost today : Dividend will be paid in perpetuity stating four years from now. If the market requires a 7% rate of return, how much does a share of preferred stock cost today
How the fraud could have been detected : Show financial statements, notes, and ratio analysis, how this fraud could have been detected. The focus this week should be on effects on revenue and expenses.
Prepare the journal entry to record depreciation expense : Irons deliver inc purchased a new delivery truck for 42,000 on 01/01/19. Prepare the journal entry to record depreciation expense for 2019 and 2020
How much will have just after make the third deposit : You want to go to Graduate school 3 years from now, How much will you have just after you make the third deposit, 3 years from now?
What amount should be reported respectively as total payroll : In the financial statements for the month ended January 31, what amount should be reported respectively as total payroll tax liability and payroll tax expense
What is the present value of the operating cash flow : Your firm is considering a new project. The project would last for 7 years. What is the present value of the operating cash flow in the list approach?
What ethical theories apply to your situation and why : You are the director of a radiology department. During a routine individual meeting with one of your male staff, the employee tells you that a female employee.

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