User Account

All Pages

Provide the journal entry to be made

Assignment Help Financial Accounting
Reference no: EM132950814

Problem 1: Baccaral Company is looking at disposing of a factory machine at the end of it's useful life to the company. The machine originally cost $48,500 and has an accumulated depreciation account that has built up to $45,300. Provide the journal entry to be made under each of the following scenarios:

a) The machine was simply disposed of, no cash received.
b) The machine was sold for $3,200
c) The machine was sold for $1,400
d) The machine was sold for $7,100

Reference no: EM132950814

Questions Cloud

What type of stock does a stockholder need to have the right : What type of stock does a stockholder need to have the right to vote in corporate matters? Preferred stock./ Treasury stock. / Common stock
Which a stock dividend affects the debiting of accounts : Which a stock dividend affects the debiting and crediting of the following accounts. Debit retained earnings, credit common stock and credit paid-in capital.
How much is recognized as research and development expense : Cost of testing the prototype model for safety and environmental friendliness 40,000. How much is recognized as research and development expense
Calculate the cost of this debt financing : Traore incurred flotation costs of 4% of the issue and pays income taxes at a 21% rate. Calculate the cost of this debt financing
Provide the journal entry to be made : Provide the journal entry to be made. Baccaral Company is looking at disposing of a factory machine at the end of it's useful life to the company.
What the cash payback period on the machine : A company is considering purchasing a machine that costs $500000. The straight-line method of depreciation would be used. What the cash payback period
What rate of return is the buyer expecting to make : What rate of return is the buyer expecting to make if Denise accepts the offer? Denise just won a $48,000,000 lottery in Washington.
Determine the ending inventory and the cost of goods sold : Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost)
What entry Bryson make assuming a perpetual inventory system : What entry does Bryson make assuming a perpetual inventory system? Bryson Company records returns and allowances in the general journal.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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