Business, 14.11.2019 06:31 haileyhale5
Marks consulting purchased equipment costing $45,000 on january 1, year 1. the equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 8 years. straight-line depreciation is used. if the equipment is sold on july 1, year 5 for $20,000, the journal entry to record the sale will include a:
a) credit to cash for $20,000.
b) debit to accumulated depreciation for $22,500.
c) debit to loss on sale for $10,000.
d) credit to loss on sale for $10,000
Answers: 2
Business, 21.06.2019 23:30
Using the exxon data as an example what would be the market capitalization of penny's pickles if each share is selling for $175.35?
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Business, 22.06.2019 11:30
Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.) (do not round intermediate calculations. round your answers to 2 decimal places.)
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Business, 22.06.2019 14:50
Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of
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Business, 22.06.2019 19:20
Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm
Answers: 1
Marks consulting purchased equipment costing $45,000 on january 1, year 1. the equipment is estimate...
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