Business, 25.11.2019 20:31 christheicebear
Onslow co. purchases a used machine for $192,000 cash on january 2 and readies it for use the next day at a $8,000 cost. on january 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations. the company predicts the machine will be used for six years and have a $23,040 salvage value. depreciation is to be charged on a straight-line basis. on december 31, at the end of its fifth year in operations, it is disposed of. 3. prepare journal entries to record the machine's disposal under each of the following separate assumptions: record the sale of the used machine for $23,500 cash. record the sale of the used machine for $94,000 cash. record the insurance settlement received of $34,000 resulting from the total destruction of the machine in a fire.
Answers: 3
Business, 22.06.2019 10:20, LadyHolmes67
Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.
Answers: 1
Business, 22.06.2019 20:50, aberiele1998
You are bearish on telecom and decide to sell short 100 shares at the current market price of $50 per share. a. how much in cash or securities must you put into your brokerage account if the broker’s initial margin requirement is 50% of the value of the short position? b. how high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position? (input the amount as a positive value. round your answer to 2 decimal places.)
Answers: 3
Business, 23.06.2019 00:00, Mypasswordishotdog11
Match each economic concept with the scenarios that illustrates it
Answers: 2
Onslow co. purchases a used machine for $192,000 cash on january 2 and readies it for use the next d...
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