What is the netbook value of the cash registers

Assignment Help Accounting Basics
Reference no: EM132426687

Question - Shop -N-Go Systems purchased cash registers on April 1 for $6,000. If this asset has an estimated useful life of four years, what is the netbook value of the cash registers on May 31 if the company uses the straight-line method of depreciation?

a. $125.

b. $1,500.

c. $6,000.

d. $5,750.

Reference no: EM132426687

Questions Cloud

Describe substantive procedures : Required - Describe substantive procedures that would provide sufficient appropriate evidence in relation to the issues outlined above
What is the profit for the year : The payment of $1,500 for a trade payable had been treated as a cash purchase. What is the profit for the year after adjusting for these errors
How did take the stakeholders into account : How does your decision support responsible stewardship and integrity in the context of financial management? Where should your factory be located?
Compute the total cost : Need help to compute the total cost, the using the straight line and units of activity methods, prepare a schedule that shows the annual depreciation expense
What is the netbook value of the cash registers : If this asset has an estimated useful life of four years, what is the netbook value of the cash registers on May 31
What are the journal entry to record the adjustment : Question - Google, accumlates the following cost and market data at 12/31/xx. What are the journal entry to record the adjustment
Did you need to make adjustments to the cash flow section : What are your revenue assumptions? What are your major expense assumptions?ow much of an investment would be needed to make the idea viable?
Calculate the value assigned to cost of goods sold : Calculate the value assigned to cost of goods sold for March and to the ending inventory at March 31 using (a) FIFO, (b) LIFO and (c) Average Cost
Compute the depreciation expense on a straight-line basis : Compute the depreciation expense on a straight-line basis, the accumulated depreciation balance, and prepare journal entries for the same

Reviews

Write a Review

Accounting Basics Questions & Answers

  How efficiently these kinds of businesses are operating

What does ROI disclose about how efficiently these kinds of businesses are operating? Are there better measures of how well managed companies like Groupon and LinkedIn are?

  For august mcguire manufactering estimated sales revenue at

for august mcguire manufactering estimated sales revenue at 200000. it pays sales comissions that are 4 of sales. the

  How many u.s. dollars are needed to purchase swiss

The exchange rate is 0.967 Swiss francs per U.S. dollar. How many U.S. dollars are needed to purchase 1 Swiss franc

  How much loss does heather realize and recognize

The partnership pays her only $50,000 for the land. How much loss does Heather realize and recognize

  Compute the target cost of a cd player

Required:  Compute the target cost of a CD player. Loyola International, Inc. is considering adding a portable CD player to its product line. Management believes that in order to be competitive,

  Bryant company designs and builds fancy dining room tables

bryant company designs and builds fancy dining room tables for individual customers. on july 1 there were two jobs in

  Compute the amount of property and equipment

Compute the amount of property and equipment that United Parcel wrote off as impaired during the year. (Hint: Set up T-accounts.)

  How will the distribution be treated

The sole shareholder receives a $27,000 cash distribution from the corporation. How will the distribution be treated if the basis in the stock is $12,200

  Education in china is highly protected by the government

Education in China is highly protected by the government of the People's Republic of China

  Define the foreign exchange rate between two currencies

Define the foreign exchange rate between two currencies. Explain its effects on business transactions conducted in a foreign currency

  A restaurant purchased 7500 of food inventory on credit

1.a restaurant purchased 7500 of food inventory on credit with terms of 35 net 30. calculate the cash discount and

  Falstags brewery has estimated 63375 68625 and 73875

falstags brewery has estimated 63375 68625 and 73875 budgeted costs for the manufacture of 3500 4500 and 5500 gallons

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