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Assume that a company sold a delivery van that had been used in the business for three years. Records of the company related to the van reflect the following:Delivery van cost ..........$42,500Accumulated Depreciation .......$25,200
Required:
1. Prepare the required journal entry to record disposal of the van, assuming the following sales amounts for cash:a. $17,300b. $20,500c. $15,800
2. Based on the situation above, explain the effects of the disposal of an asset on the company's financial statements.
Intel Inc. is the pioneer in the manufacture of microprocessor for computers. The company's fiscal year runs from April 1 to March 31. On 4/1/2013, Intel Issued $5,000,000 of 11% Bonds due in 10 years. The interest is payable annually on April 1.
What are the values for the Mean Square Treatment (MST) and the Mean Square Error (MSE)? Compute the value of F. Do you Reject or Fail to Reject the Null Hypothesis? State you conclusion.
Assume that Go-med is a joint venture owned by Insure and four other venturers, that the acquisition differentials are valid, and that it has not yet adopted IFRS 11: Joint Arrangements. Prepare a 20X8 consolidated income statement for Insure usi..
In accrual basis accounting, when are expenses usually recognized?
Date of bonds: Issued January 1, 2010; maturity date: January 1, 2015; face value: $200,000; face interest rate: 10 percent paid semiannually (5 percent per period); market interest rate: 8 percent (4 percent per semiannual period); issue price: $216..
Prepare the journal entries to record The acquisition of the building and inception of the mortgage loan payable and The first mortgage payment on June 30, 2014.
personal casualty gains exceed personal casualty losses after deducting the $100 floor, there is no itemized deduction
Compute the unlevered market equity (asset) beta of Equifax. Compute the equity beta of Experian after the buyout with its new capital structure.
McCoy Corporation's stockholders' equity accounts were as follows: Common Stock, $1 par $50,000 Additional paid-in- capital 100,000 Retained Earnings 225,000 McCoy's assets and liabilities had book values equal to market values except for inventory, ..
on june 15 2011 sanderson construction entered into a long-term construction contract to build a baseball stadium in
Why is it that for the operating leverage in some industries, 10 percent ROA is the norm, while in others the operating leverage reflected is only 1 percent?
Demonstrate in your critical analysis how the use of Ethics by the parties involved could have assisted in better operation of News Ltd. Provide an insight into how Ethics can best be incorporated in organisations and those charge with Corporate G..
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