User Account

All Pages

What would the journal entry look like to record the sale

Assignment Help Financial Accounting
Reference no: EM132992466

Suppose a piece of plant equipment that PepsiCo put into service on January 1, 2014 at a total cost of $300,000 with an expected useful life of 5 years and a salvage value of $60,000 is sold on June 30, 2018 for $60,000. The accumulated depreciation is $216,000.

Problem 1: What would the journal entry look like to record this sale?

Reference no: EM132992466

Questions Cloud

Why would you have stock records and stock control : Explain how you would present this information to a group of colleagues in a spoken communication - What is benchmarking and its key features
Show effects of previous transactions for nancy tercek : Nancy Tercek started a delivery service, Larkspur, Inc., on June 1, 2022. Show the effects of the previous transactions on the accounting equation
Principles to enhance organizational performance : How would you apply process improvement principles to enhance organizational performance and value.
Can an investor use call or put options several days prior : Can an investor use call or put options several days prior to the new announcements to capitalize on the good/bad earning news reported?
What would the journal entry look like to record the sale : What would the journal entry look like to record this sale? Suppose a piece of plant equipment that PepsiCo put into service on January 1, 2014
How could the type of fraud be stopped : Why might control procedures listed in this chapter be insufficient in stopping this type of fraud? How could this type of fraud be stopped?
Identify use cases and draw use case diagrams : Identify use cases and draw use case diagrams for the proposed system that show major use cases and actors.
How would handle the situation for bookkeeper : How would you handle this situation. This is your first month working as a bookkeeper and you notice a discrepancy when trying to reconcile
Determine the cashflow for operating : Determine the cashflow for Operating, Financing and Investing activities for the company and calculate the net change in cash.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine amount of interest income that should be reported

Determine the amount of interest income that should be reported in 2020. The $2,000,000 note receivable is dated May 1, 2019, bears interest at 9%

  Analyze the accounting treatment of acquisition

Analyze the accounting treatment of acquisition related costs in a business combination. how acquisition related costs are accounted

  Illustrate what is amount of bob business gift deduction

During the 2011 holiday season, Bob, a barber, gave business gifts to 34 customers. The values of the gifts, which were not of a promotional nature, were as follows: For 2011, illustrate what is the amount of Bob's business gift deduction?

  What are the number of shares par value per share

What are the number of shares, par value per share, and market price per share immediately after the 2-for-1 stock split? (Round your answers to 2 decimal places.

  Compute return on investment and investment turnover

A food manufacturer reports the following for two of its divisions for a recent year. Compute return on investment and investment turnover for the year.

  Do the journal entries on the books of Thor Corp

The land has a fair value of $2,000,000 on January 1, 2020. Do 2020 journal entries on the books of Thor Corp. to reflect the above sale and lease transactions

  What is the goal of operating segments

What is an operating segment as defined by AASB 8? Who is the chief operating decision maker and how are the reportable segments determined?

  Illustrate what would you do to collect on a customer unpaid

If you were a business owner or manager, illustrate what would you do to collect on a customer unpaid bill? At what point would you deem the account bad debt and write it off?

  How can the us company hedge the foreign currency receivable

A US company has an AUD 1 million receivable in two months. How can the US company hedge the foreign currency receivable? It could

  Should bank management care about charity for one parent

The charity for one parent family said banks, Should bank management care about the recommendation of the charity for One Parent Families.

  What the choice of maximum benefit is typically based on

What the choice of maximum benefit is typically based on? Which Partnership plans help families? Match long term care needs with local facilities

  What will be the balance of account immediately

Every year you deposit $1,400 into an account that earns 2% interest per year. What will be the balance of your account immediately after the 40th deposit?

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