User Account

All Pages

What would be the journal entry for this sale

Assignment Help Financial Management
Reference no: EM132406717

Question

An Automobile driven only by an officer cost $5000. It has an accumulated depreciation of $3000. It was sold for $3600 cash. What would be the journal entry for this sale?

The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.

Reference no: EM132406717

Questions Cloud

Determine the two limits to market value that should be used : Determine The two limits to market value that should be used in the lower-of-cost-or-market computation for skis and The cost amount that should be used.
ACF315 International Financial Management Assignment : ACF315 International Financial Management Assignment Help and Solution, University of Plymouth - Assessment Writing Service - What is the initial value
Compute the sales price variance and sales volume variance : Comp Wiz sells computers. During May, it sold 400 computers at a $900 average price each. The May fixed budget included sales of 450 computers.
What is kunal average return for the year : If Kunal wanted to rebalance his portfolio to its original position, what specific actions should he take?
What would be the journal entry for this sale : An Automobile driven only by an officer cost $5000. It has an accumulated depreciation of $3000. It was sold for $3600 cash. What would be the journal entry for
Estimate bing after-tax wacc : Bing Industries has 10 million shares outstanding and a current share price of $35 per share. It also has long-term debt outstanding.
Effects of income taxes on capital budgeting decisions : Describe and explain capital capital budgeting items that may or may not be taxed as part of a capital budget project
Calculate the estimated portion of each age group : Calculate the estimated portion of each age group that will prove uncollectible and the required balance in the Allowance for Doubtful Accounts.
Estimate sat total enterprise value without leverage : (i). Estimate SAT's total enterprise value without leverage (ii). Estimate SAT's total enterprise value with leverage

Reviews

Write a Review

Financial Management Questions & Answers

  What is the firm cost of preferred stock and common stock

J. Ross and Sons, Inc. has a capital structure that calls for 40 percent debt, 10 percent preferred stock, and balance common stock. The firm's current after-tax cost of debt is 6 percent, and it can sell as much debt as it wishes at this rate. What ..

  Calculate the unit sales needed to attain a target profit

Lin Corporation has a single product whose selling price is $135 per unit and whose variable expense is $81 per unit. The company's monthly fixed expense.

  What is the effective annual rate on loan

What will your monthly payments be? What is the effective annual rate on this loan?

  What does the trade-off theory suggest will happen

Suppose the government changes the tax laws and interest is no longer tax deductible for corporations.

  How many days is the days-sales-in-inventory

Goods available for sale total $25,000, beginning inventory is $8,000, endings inventory is $12,000, and cost of goods sold is $10,000. How many days is the days-sales-in-inventory?

  Firms current unlevered value

Suppose that your firm's current unlevered value is $800,000, and its marginal corporate tax rate is 35%. Also, you model the firms PV of financial distress as a function of its debt ratio according to the relation: PV of financial distress=800,000 x..

  Is PGH Bank adequately capitalized

Assume that to be adequately capitalized a bank has to have at least 6% in capital to risk-weighted assets. Is PGH Bank adequately capitalized?

  Find the accounting rate of return for the investment

A company wishes to purchase a vehicle for $22,095. The useful life of this vehicle will be three years. The company estimates that the net profit before depreciation for each of the years 1-3 will be 8,500, 8,000, and 7,500, respectively. Find the a..

  If the market required yield to maturity had fallen

what are they selling for? If the market's required yield to maturity had fallen to 77 percent, what would they have been selling for?

  Unless items are covered with additional insurance

Most home insurance policies cover jewelry for $1900 and silverware for $2380 unless items are covered with additional insurance. If $4320 worth of jewelry and $3920 worth of silverware were stolen from a family, what amount of the claim would not be..

  What will be xyzs wacc

The company's before-tax cost of debt is 12 percent, while its cost of equity is 18 percent.

  Calculate how much capital steven will need

Using the annuity method calculate how much capital Steven will need to be able to retire at age 68. Why it is realistic to use a wage replacement ratio of 80%.

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