User Account

All Pages

What is the machine carrying value on June

Assignment Help Accounting Basics
Reference no: EM133020275

Questions -

Q1. If payday occurs on each Wednesday for the weekly pay period ending the previous Friday, and an entry is made each Friday to accrue the payroll for that week, the journal entry to record on payday (Wednesday) would involve a debit to:

-Cash Expense.

-Cash.

-None of these

-Wages Payable.

-Wage Expense.

Q2. Gateway Inc. bought a machine on January 1, 2021 for $40,000. Gateway plans to keep the machine for 8 years. What is the machine's carrying value on June 30, 2023 assuming Gateway uses straight-line depreciation?

-$40,000

-$27,500

-$25,000

-$30,000

-$35,000

Reference no: EM133020275

Questions Cloud

What is the impact of the point redemptions on profit : During 2020, 940,000 points were issued. Sales for 2020 were $340,000. What is the impact of the point redemptions on profit and cash flow
Prepare extract of statement of comprehensive income : The capital contribution by a bank is RM800,000 and the profit. Prepare extract of Statement of Comprehensive Income (Income Statement) for the 5 years period
What is the amount of long-term liabilities : What is the amount of long-term liabilities that should be reported on December 31, Year 8 Statement of Financial Position
What is the weighted average cost of capital : The bonds currently have a yield to maturity? (YTM) of 11%. What is the weighted average cost of capital (WACC) for Easy Car Corp
What is the machine carrying value on June : Gateway Inc. bought a machine on January 1, 2021 for $40,000. Gateway plans to keep the machine for 8 years. What is the machine's carrying value on June
What is the accounts payable balance as at March : Please complete a cash disbursement budget (for direct materials) for the first quarter of the year. What is the accounts payable balance as at March 31st
What is the current market price of the common stock : AG Motor's common stock currently pays an annual dividend of $3.60 per share. What is the current market price of the common stock
What does present value mean : Considering the concept of present value, if you were to win the lottery would you want to receive a lump sum payment or payments over time
What is the value of firm based on the earnings multiplier : Smith's most recent earnings totaled $259,000 and earnings per share was $5.40. What is the value of the firm based on the earnings multiplier

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