18 Queries accounting quiz (needed in 7 hours) – custom elite writers gas arkansas

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Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $21,000 for the truck. The truck is expected to have a $2,500 residual value and a 5-year life. Cambridge has electricity in the 1920s a December 31 fiscal year end. Using the double-declining balance method, how much is the 2019 depreciation expense? (Enter only whole dollar values.) Hint: what is the year 2 depreciation amount?

Somerset Company acquired a piece of equipment with a list price of $200,000 for $150,000. Freight to Somerset’s location was $10,000. Installation and testing rahal e gas card costs were $5,500. An old piece of equipment was scrapped as a result of this new purchase. The old piece of equipment had an undepreciated value (net book value) of $8,000. The new piece of equipment is expected to have a 10 year life and a salvage value of $15,000. What is the total value assigned to the new piece of equipment?

On January 1, 2017, Frostburg Company purchased for $68,500, equipment having a service life of six years and an estimated residual value of $4,000. Frostburg has recorded depreciation of the equipment using the straight-line method. On December 31, 2019, before making any e85 gasoline annual adjusting entries, the equipment was exchanged for new machinery having a fair value of $35,000. The transaction has commercial substance. Use this information to prepare all General Journal entries (without explanation) required to record the events for December 31, 2019 a gas has no volume.

Bowie Company uses a calendar year. On December 31, 2018, after adjusting entries were posted, Bowie Company sold a machine which was originally purchased on January 1, 2015. The historical cost was $20,500, the salvage value assumed was $2,000 and the original estimated life was five years.. It was sold for $4,000 cash. Using this information, how much should be recorded on December 31 for the Gain or (Loss)? Round to whole dollars.

Frederick Mining Company owns a large parcel of land which costs $850,000 gas pain relief. It is estimated to contain 1,500,000 tons of recoverable ore. It is estimated that the recovery of the ore will take 10 years and that after the ore is fully depleted the land will natural electricity examples be sold for a market value of $150,000. In 2018, Frederick extracted and sold 105,000 tons of ore. What is the amount of depletion that should be recorded? Round total the nearest whole dollar.

On January 2, 2016, Alpha Corporation issued 1,500 shares of $6 par value common stock. The issue price was $15 per share. On January 15, Alpha Corporation issued 1,100 shares of its $100 par 5% cumulative preferred stock for $105 per j gastroenterology impact factor share. Use this information to prepare the General Journal entry (without explanation) for the January 2 and January 15 entries.

On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. September 1, 2016, when the market was soaring, Alpha reissued 500 shares of treasury stock at the going market rate of $25 per share. Use this information to prepare electricity quizlet the General Journal entry (without explanation) for September 1.

On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15, the board declared a $0.30 per share dividend to be paid to stockholders of record on May 4. The dividend was distributed on May 15. Use this information to prepare the General Journal entries (without explanation) for April 15 May 15. If no entry is required then write “No Entry Required.”

On January 1, 2016, Alpha Corporation had 300,000 shares of common stock outstanding with a par value of $3 per share. On March gas vs electric oven efficiency 31, Alpha Corporation declared a 10% stock dividend when the market value was $8 per share. Use this information to prepare the General Journal entry (without explanation) for March 31. If no entry is required then write “No Entry Required.”

On December 31, 2015, Alpha Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. No dividends were paid in 2015. During 2016, Alpha distributed $40,000 in dividends. Use gaston y astrid lima this information to determine for the 2016 the dollar amount of dividends that will be distributed to:

On December 31, 2016, Common Stock was authorized 50,000 shares and Preferred Stock was authorized 5,000 shares. Prepare only the Stockholder c gastritis im antrum’s Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.

On January zyklon b gas effects 2, 2016, Alpha Corporation procured new equipment with an issue of 5,000 shares of $4.00 par value common stock. The equipment had an MSRP of $65,000. Alpha’s stock was trading on the open market for $9.75 per share on January 2nd. Use this information to prepare the General Journal entry (without explanation) for the January 2 entry.