User Account

All Pages

What will be the adjusting journal entry for it

Assignment Help Financial Accounting
Reference no: EM132962497

Question - Equipment per GL as of December 31 shows a balance of P 186,000. Equipment acquired during the period was P26,000 on October 1. All equipment is to be depreciated at the rate of 20% per annum. What will be the adjusting journal entry for it?

Reference no: EM132962497

Questions Cloud

What dora should record the note at : Dora Company issues a three-year non-interest bearing note in exchange for a piece of equipment. Dora should record the note at
Describe the most appropriate course of action : Kumar has a few remaining items to complete, does so, and dates the auditor's report February 9, 2021. Describe the most appropriate course of action
What is the current price of the bond for yan yan corp : What is the current price of the bond? Yan Yan Corp. has a non-standard $2,000 par value bond outstanding with a coupon rate of 4.9 percent
How are the current and future tax consequences : criteria are established for the recognition of a deferred tax asset and deferred tax liability. Identify two criteria, and discuss differences between them.
What will be the adjusting journal entry for it : Question - Equipment per GL as of December 31 shows a balance of P 186,000. What will be the adjusting journal entry for it
What are the characteristics of each : Question - We discussed two classes of stock - common stock and preferred stock. What are the characteristics of each
What is the net income : Salty Chips has sales of $862,000, operating costs of $85,000, depreciation expenses of $41,000, What is the net income
Prepare journal entries for transactions for perpetual co : Prepare journal entries for the transactions for Perpetual Co. in financial year 18/19. Perpetual Co. uses a Perpetual Inventory System
Compute the covariance between goldday and the market : The analyst estimates that the probability of a recession is 0.50 while the probability of an economic boom is 0.50. Compute the covariance

Reviews

Write a Review

Financial Accounting Questions & Answers

  What are the potential entry points for security

What are the potential entry points? What methods do firms use to ensure the integrity of their software, their hardware, their network, and their partners?

  Provide the definitions of a discount bond and premium bond

Why might the Standard & Poor's 500 Index be a better measure of stock market performance than the Dow Jones Industrial Average?

  Prepare journal entries relating to the transactions

On December 2, 2009, the investment was sold for $18,600. Prepare journal entries for 2008 through 2009 relating to the above transactions

  What is maximum amount tom can claim as taxes in itemizing

What is the maximum amount Tom can claim as taxes in itemizing deductions from AGI? Real estate taxes on a vacation home 2,100

  State four causes of depreciation

Calculate the Net Book Value (NBV) of Equipment and Office Computers as at 31 December 2019. State advantages of using the straight-line method of depreciation

  What amount of interest income would siebens report

On June 1, 2014, Siebens Enterprises loaned $20,000 to Tyler Company for one year at 8 percent interest. Under the terms of the promissory note, Tyler will repay the principal and pay one year's interest on May 31, 2015. Related to this note receivab..

  Question based on stock valuation

Multiple choice question based on stock valuation - Carter Corporation's return on common stockholders' equity

  What is the cost of the ending inventory

The year-end inventory showed $121,000 worth of merchandise available at retail prices. What is the cost of the ending inventory?

  Examine several toys marketed for infants

Examine several toys marketed for infants. Determine how this toy is designed for infant safety and for stimulating infant development

  What federal taxable income in determining

the state regular-tax basis in the asset was $60,000. What adjustment, if any, should be made to Federal taxable income in determining the correct state taxable income for the typical state?

  Determine how many years are required before the worth

Determine how many years are required before the worth of the Class A account overtakes (is preferred to) the class B account.

  What would the ppe turnover ratio be

What would the PPE turnover ratio be? Total closing PPE = $1 300 000. Total opening PPE = $1 000 000. Cost of goods sold = $600 000

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