User Account

All Pages

What amount of gain or loss would it record on the sale

Assignment Help Accounting Basics
Reference no: EM132540855

Question - Serge Corporation purchased some equipment on October 1, 2017 for $23,880 and expects it to be useful for 6 years at which time it will be worth $1,200. If the company sold the equipment on December 31, 2019 for $14,000 what amount of gain or loss would it record on the sale? Use a positive number to indicate a gain or a negative number to indicate a loss.

Reference no: EM132540855

Questions Cloud

Journal entries need be prepared for salinas corporation : Journal entries need be prepared for Salinas Corporation for 2020 and 2021, assuming Phelps is not able to exercise significant influence over
How much factory overhead will blackwelder factory allocate : How much factory overhead will Blackwelder Factory allocate to small lamp production if actual direct hours for the period is 178,000?
Assign suitable ip addresses to each device of your choice : Assign IP addresses to these devices in order to enable networking among them. Assign suitable IP addresses to each device of your choice
What effective annual interest rate has the investor earned : What effective annual interest rate has the investor earned, explain the results?
What amount of gain or loss would it record on the sale : If the company sold the equipment on December 31, 2019 for $14,000 what amount of gain or loss would it record on the sale
Expected eps under both financing options : Find out the expected EPS under both financing options at the given EBIT levels of Rs. 2 crores and Rs. 7.5 crores. What should be choice of the company
What would a schedule of cost of goods manufactured for year : Kookabuka Company during the most recent year, What would a schedule of cost of goods manufactured for the year look like?
The success of healthcare facility : How is role of medical biller critical to the success of a healthcare facility? Discuss why some medical offices have yet to implement electronic health records
What business form would suit the needs of gerard : The task is assigned to you. What business form would suit the needs of Gerard? Why? What are the advantages of this business form

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are total selling expenses for the month of march

For March, sales revenue is $1,000,000; sales commissions are 5% of sales; the sales manager's salary. What are total selling expenses for the month of March.

  Flamingo company sold 1000000 of 8 10-year bonds at 103 on

flamingo company sold 1000000 of 8 10-year bonds at 103 on january 1 2014. the bonds were dated january 1 2014 and pay

  Calculate the weighted average number of common shares

Calculate the weighted average number of common shares that Coronado should use for calculating its EPS numbers for 2021

  Give the journal entry to charge standard overhead costs to

give the journal entry to charge standard overhead costs to work in process and record overhead variances for the month

  What is the amount of regina depreciation deduction

What is the amount of Regina's depreciation deduction for the furniture and fixtures under the Modified Accelerated Cost Recovery System

  Axel will purchase the equipment that cost the least

Plan A: MRE offers to let Axel pay $55,000 each year for five years. The payments include interest at 12% per year. Plan B: Westernhome will let Axel make a single payment of $425,000 at the end of five years. This payment includes both principal and..

  What types of costs may be incurred

Johnstone Company acquires the land and building owned by Briggs Company. What types of costs may be incurred to make the asset ready for its intended use if Johnstone Company wants to use only the land?

  What is the highest rate you can afford

You want to borrow $67,000 from your local bank to buy a new sailboat. Assuming monthly compounding, what is highest rate you can afford on a 66-month APR loan

  What is average price received for each issued common share

What is the average price received for each issued common share? NOTE: For this part 2 only around your answer to the nearest 2 decimal places.

  Evaluating the performance of the crew

Ed Koehler started Great Southern Furniture five years ago to assemble prefabricated bedroom furniture for large hotel chains. Required: Write a report evaluating the performance of the crew at the Hyatt in Tampa

  Problem related to debt service funds

Which of the following debt service funds would normaly have the largest balance in its fund balance account? Serial bond debt service, Deferred serial bond debt service fund, irregular serial bond debt service fund, term bond debt service fund.

  Compute the new machines net present value use the

doughboy bakery would like to buy a new machine for putting icing and other toppings on pastries. these are now put on

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