subject
Business, 05.08.2021 23:50 Tinker2019

Bennett Corporation sold a piece of equipment on June 30, 2021 for $350,000 cash. The equipment has been purchased on January 1, 2018 for $600,000. It had an estimated useful life of 10 years and a $50,000 salvage value. Bennett Corp. has been using the straight-line method of depreciation and has a year-end of December 31st. Prepare all necessary journal entries on June 30, 2021 assuming adjusting entries for depreciation expense have been properly recorded through December 31, 2020.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 13:10
Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock
Answers: 1
question
Business, 22.06.2019 17:00
Zeta corporation is a manufacturer of sports caps, which require soft fabric. the standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. during the month of january, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. what is zeta corporation's materials price variance for the month of january?
Answers: 2
question
Business, 22.06.2019 21:30
The year-end financial statements of calloway company contained the following elements and corresponding amounts: assets = $34,000; liabilities = ? ; common stock = $6,400; revenue = $13,800; dividends = $1,450; beginning retained earnings = $4,450; ending retained earnings = $8,400. based on this information, the amount of expenses on calloway's income statement was
Answers: 1
question
Business, 23.06.2019 12:30
Max maxwell's property is assessed at $412,500. he pays $5775.00 in property taxes, what is the property tax rate in his city?
Answers: 1
You know the right answer?
Bennett Corporation sold a piece of equipment on June 30, 2021 for $350,000 cash. The equipment has...
Questions
question
Spanish, 14.01.2021 01:40
question
Spanish, 14.01.2021 01:40
question
Mathematics, 14.01.2021 01:40
question
Spanish, 14.01.2021 01:40
question
Mathematics, 14.01.2021 01:40