Record the disposal under the assumptions

Assignment Help Accounting Basics
Reference no: EM13145579

Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.

a) It was scrapped as having no value
b) It was sold for $21,000
c) It was sold for $23,000

Reference no: EM13145579

Questions Cloud

Prepare summary journal entries for period purchases : Assuming Gould's sells this item for $23 per unit, prepare summary journal entries for the period's purchases, sales, and sales returns.
Amount of allowance for uncollectible accounts : The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.
State null and alternative hypothesis in symbolic form : You are conducting a one-tailed or two-tailed test? Explain with an example and also state the Null and the Alternative hypothesis for the example in symbolic form.
Determine the mole percentage of the two components : during one of the processes at the plant. The two liquids are blended until a specific gravity of 1.445. Determine the mole percentage of the two components in the blend.
Record the disposal under the assumptions : Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.
Use fitted trend equations to make numerical forecast : Which trend model do you think is best to make forecasts for the next 3 years? Why? (e) Use each of the three fitted trend equations to make a numerical forecast for 2007.
Outstanding common stock of sam corporation : Father, inc. buys 80 percent of the outstanding common stock of sam corporation on January 1, 2009 for $680000 cash. at the acquisition date, sam's total fair value was assessed at $850,000 although sam's book vale was only $600,000.
Compute the relative dispersion of each group : Compute the relative dispersion (Coefficient of Variation) of each group and give us your thoughts on the dispersion. About 95% of all checked luggage on domestic flights weigh between what two values? How did you find this?
Characteristic of a business combination : Which one of the following is a characteristic of a business combination that should be accounted for as a purchase?

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd