User Account

All Pages

What the company must recognize

Assignment Help Financial Accounting
Reference no: EM132518489

Question 1: The company discarded an equipment that cost $8,000. The accumulated depreciation is $7,200 on the date of disposal. The company must recognize:

Option a. No gain or loss

Option b. Loss of $800

Option c. Gain of $800

Option d. Loss of $8,000

Reference no: EM132518489

Questions Cloud

What is the present value of the bond at issuance : What is the present value of the bond at issuance? Based on the same information, what is the amount of interest expense to be recorded on June 30, 2018?
What is the inflation rate in 2018 : Suppose that the residents of Vegopia spend all of their income on cauliflower, broccoli and carrots. In 2017 they buy 100 heads of cauliflower
Describe characteristics of the english immersion program : Based on key legislation pertaining to English language learners (ELLs) in your state, describe the characteristics of the English immersion program in terms.
Summarize the journey that the bologna process has taken : Visit the Educause Website to read the article titled "The Bologna Process and the Transformation of European Higher Education". This case study describes.
What the company must recognize : The company discarded an equipment that cost $8,000. The accumulated depreciation is $7,200 on the date of disposal. The company must recognize
Method of distributing the payouts : If your goal is to make a more entertaining race, which of the two options below is a better method of distributing the payouts? Why?
What will east corp record as goodwill for this acquisition : What will East Corp. record as goodwill for this acquisition? East Corp. acquired 100% of the outstanding voting shares of Lansing Co
Explain an organization need for a him professional : Explain an organization's need for a HIM professional to ensure long-term meaningful use and current incentive program compliance.
Performance appraisal-current evaluation methods : Discuss the assessment of employees within the Telespazio organization. Develop a written description discussing current evaluation methods,

Reviews

Write a Review

Financial Accounting Questions & Answers

  How many of them paid the loan back in full

Seventy-six percent of all students who apply for a student loan are approved for the loan. Of the students who are approved, 84% pay the loan back in full.

  Farr company has purchased three machines

Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine.

  Manufacturing costs consist of variable cost

Stanford Semiconductors manufactures specialized chips that sell for $50 each. Stanford's manufacturing costs consist of variable cost of $6 per chip and fixed cost of $16,000,000. Calculate Stanford's operating income in 2014. Would it be unethical ..

  Evaluate the net operating income for the month

Evaluate the net operating income for the month under variable costing and evaluate the net operating income for the month under absorption costing?

  Data relative to those activity cost pools and cost drivers

Flynn Industries has three activity cost pools and two products. It expects to produce 3,340 units of Product BC113 and 1,920 of Product AD908. Having identified its activity cost pools and the cost drivers for each pool, Flynn accumulated the follow..

  Journal entries for hedging a forecasted foreign currency

Critical Thinking Assignment- Journal Entries for Hedging a Forecasted Foreign Currency Transaction: A Foreign Currency Cash Value Hedge.

  What price should be charged

A company has $6.50 per unit in variable costs and $4.40 per unit in fixed costs, what price should be charged if 68,000 units are expected to be sold

  Determine the types of accounting periods

Analyze the start-up company you created. Include in your analysis the type of company you have created, its business objectives.

  Differences between accrual and cash basis accounting

The differences between accrual and cash basis accounting can get confusing. Do your best to describe what each is, when you would use it, who it is best suited for, advantages, and disadvantages.

  Whats the terminal value of the firm cash flows

The company's WACC is 9.2 percent, and the tax rate is 34%. What's the terminal value of the firm's cash flows? expected to grow at 3.2 percent indefinitely.

  Prepare a flexible budget for the production and sale

Prepare a flexible budget for the production and sale of 900 units. Compute for June: The sales volume variance, in terms of operating income.

  Income tax problem

Income Tax Problem: The Incisors own a beach house in Hawai. The beach house was rented for the full year during 2015 and wasn't used by Incisors during the year. The Incisors were active participants in the management of the rental.

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