Prepare the journal entry to record the disposition

Assignment Help Financial Accounting

Reference no: EM131287263

Cheney Company sold a 20-ton mechanical draw press for $64,400. The old draw press cost $84,600 and had a book value of $59,000. Required: Prepare the journal entry to record the disposition. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM131287263

Questions Cloud

Should your firm charge slotting fees : Should your firm charge slotting fees?- Are slotting fees fair to the relevant shareholders-customers, stockholders, vendors?

Develop concepts of various management functions : Find out whether the system capacity of 5,000 kg can be achievable without upgrading any of the machine in the system and Determine bottleneck machines. Find new capacities of bottleneck machines to obtain the system capacity of 5,000 kg.

Training program had a significant influence on the behavior : Suppose a training program had a significant influence on the behavior of the participants but did not have a clear impact on the results of the organization, such as profitability, productivity or costs. Does this mean that the training was ineff..

Appropriate input device for a product : The choice of an appropriate input device for a product is often based on both the type of device being used and the target market for that device. For, instance, a device targeted to college students and one targeted to older individuals may use ..

Prepare the journal entry to record the disposition : Cheney Company sold a 20-ton mechanical draw press for $64,400. The old draw press cost $84,600 and had a book value of $59,000. Required: Prepare the journal entry to record the disposition. (If no entry is required for a transaction/event, select "..

Does the price quality relationship hold for the market : Does it make sense for Fujitsu to keep using a skimming pricing strategy? Justify your position. If the company were to change to a penetration strategy, what issues would it need to wrestle with?

Revenue and costs data on the toy for the past year : The Draper Company is considering dropping its Doombug toy due to continuing losses. Revenue and costs data on the toy for the past year follow: Sales of 15,000 units $150,000 less Variable expenses $120,000 = Contribution margin $30,000 less Fixed e..

Important for a leader to display : Think about a supervisor you respected greatly, and create a post that shares which base(s) of power you saw operating in him or her. Was there a "down" side to the power he or she displayed? Which two bases of power do you think might be most imp..

Describe the biological principles that underlie technology : Discuss the biological principles that underlie this technology. Your goal in this section of the paper is to show the instructor that you understand the underlying science behind the technology.

User Account

All Pages