User Account

All Pages

What would the amount of the gain or loss

Assignment Help Financial Accounting
Reference no: EM132925094

Question - A truck which cost $30,000 and on which $22,000 of accumulated depreciation had been recorded was disposed of on January 3. What would the amount of the gain or loss and the journal entry necessary to record the disposal be under each of the following independent assumptions:

A. It was scrapped for no value

B. It was sold for $12,000.

C. It was sold for $7,500.

Reference no: EM132925094

Questions Cloud

What is small portion of the net income : The next $30,000 is allocated based on service: Small gets $20,000, and Big gets $10,000. What is Small portion of the net income
Explain key points in terms of nutrition : Explain key points in terms of nutrition (focus on protein, carbohydrates, etc.). Also discuss the diet plan and the diet's strengths and weaknesses.
Identify the type of fraud scheme described : Identify the type of fraud scheme described. Describe FIVE controls you would implement to address the fraud risk
Identify national resources which facilitate safe : Course Competency, Identify local, state, and national resources which facilitate safe and effective transitions of care for older adults.
What would the amount of the gain or loss : What would the amount of the gain or loss and the journal entry necessary to record the disposal be under each of the following independent assumptions
How can convince the general public : How can we convince the general public and possibly even ourselves, that immunization is a necessary preventative measure for diseases
Discuss kodak''s reasons why they have formulated : Discuss Kodak's reasons why they have formulated a diversification strategy and Identify and discuss two modes of entry that have been used by Fitbit
Compare compliance and collaboration : Compare compliance and collaboration. Explain the importance of professional commitment in developing patient education as a clinical skill.
Identify the health care professionals role in compliance : Identify the health care professionals' role in compliance and give examples of ways in which health care professional may actually contribute to noncompliance

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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