User Account

All Pages

Prepare the journal entry to record the insurance proceeds

Assignment Help Accounting Basics
Reference no: EM132824807

Problem 1: A truck costing $110,000 was destroyed when its engine caught fire. At the date of the fire, the accumulated depreciation on the truck was $50,000. An insurance check for $125,000 was received based on the replacement cost of the truck. Prepare the journal entry to record the insurance proceeds and the disposition of the truck.

Reference no: EM132824807

Questions Cloud

Reference of the appropriate theory and justification : Followers' readiness is an important situational factor for effective leadership. Suppose a manager is heading a sales department of a pharmaceutical company
Pursues differentiation strategy : Identify two companies, one that you believe pursues a lowest-cost strategy and another that pursues a differentiation strategy.
System of job screening used in selecting best candidate : Certain employment laws such as anti-discrimination laws must be obeyed during employee selection. Explain the system of job screening used in selecting
Calculate WGLs cost of goods sold for January : On January 31, 2020, WGL sold 1,500 units of inventory for $100 each to customers. Calculate WGLs cost of goods sold for January
Prepare the journal entry to record the insurance proceeds : Prepare the journal entry to record the insurance proceeds and the disposition of the truck. A truck costing $110,000 was destroyed when its engine caught fire.
What health factors can nurses address to work : What health factors can nurses address to work with young males of a community to improve overall health? (mention at least 3 health factors).
What is the importance of healthcare hrm : -Consider the differences among a job description, a job analysis, and a job design. What is the importance of each in healthcare HRM?
Analyze how the economic concentration : Analyze how the economic concentration in the area you chose was influenced by competition and pricing.
What amount of cash transferred to sinking fund investment : Bonds with a face value of $295,000 were issued at 102. The entry to record the issuance will include a credit to the Bonds Payable account for

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