User Account

All Pages

Determine gain or loss on the sale of property and equipment

Assignment Help Accounting Basics
Reference no: EM132186693

Question - Three-Eyed Raven Ltd. reported the following at December 31, 2016 (in thousands):

From the comparative balance sheet: 2016 2015

Property and equipment, net. $11,150. $9,590

Long-term notes payable. 4,400 3,080

From the statement of cash flows:

Depreciation $1,920

Capital expenditures (4,130)

Proceeds from sale of property and equipment 770

Proceeds from issuance of long-term note payable 1,190

Payment of long-term note payable (110)

Issuance of common share 383

Determine the following items for Three Eyed Raven Ltd. During 2016:

• Gain or loss on the sale of property and equipment.

• Amount of long-term debt issued for something other than cash.

Reference no: EM132186693

Questions Cloud

Discuss the advantages of the shifts in the medical field : Briefly describe at least 5 gadgets or apps that the speaker brings up that you thought were really cool. Look them up online to see whether they are already.
What is total paid-in capital based on the given above : Preferred Stock (10,000 shares authorized), $100 par $173,000 - What is total paid-in capital based on the information above
Used to monitor and control managers decisions : What is corporate governance and how is it used to monitor and control managers' decisions?
Surveillance of external environment : Managers are conscious of their environment through, scanning, monitoring, and gathering competitive intelligence.
Determine gain or loss on the sale of property and equipment : Three-Eyed Raven Ltd. reported the following at December 31, 2016 (in thousands): Determine Gain or loss on the sale of property and equipment
Separate arguments from window dressing : Identify premises and conclusions; classify as inductive or deductive; supply missing premises; separate arguments from window dressing.
Identify the range of organisational stakeholders : MGMT6012 Management Perspectives - create a personal SWOT analysis and comment on their fit with the organisation identified in their first assignment
Has anyone passed the argosy mafp comps exam : Has anyone passed the Argosy MAFP (forensic psych) Comps exam? I have failed twice and only have one more chance. Unless you have passed before.
What will be the number of shares outstanding after split : Jonick Corporation had 26,000 shares of common stock outstanding, What will be the number of shares outstanding after the split

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is cost of goods manufactured

work in process inventory on december 31,2011, is $42,000. work in process inventory decreased 40% during 2011. total manufacturing cost incurred in 2011 amount to $260,000. what is cost of goods manufactured?

  Why is it important to establish and monitor credit limits

Why is it important to establish and monitor credit limits for customers?

  Discuss the three components of imposing criminal sanctions

Discuss the three components of imposing criminal sanctions for the utilitarian view of preventing socially undesirable behavior, i.e. illegal conduct.

  What is the expected return

Melissa Popp is thinking about buying some shares of Education, Inc., at $50 per share. What is the expected return

  What are the two additional criteria for the lessor in a

what are the two additional criteria for the lessor in a capital lease? how many of these criteria does the lease need

  Differentiate cash basis accrual basis of accounting

Differentiate Cash basis accrual basis of accounting

  Prepare a classified balance sheet for bl landscapes

Prepare a classified balance sheet for B&L Landscapes, Record the journal entries for the dividend declaration and payment on Page

  Accumulated depreciation for the asset

Moped, Inc. purchased machinery at a cost of $22,000 on January 1, 2011. The expected useful life is 5 years and the asset is expected to have salvage value of $2,000. Moped depreciates its assets via the double-declining balance method.

  What is the total amount of cash that company received

On March 1, 2020 the B Company issued $800,000 of 10 year bonds payable dated January 1, 2020 at face value. The bonds have a stated rate of 12%.

  Excess of the actual return on plan assets

Excess of the actual return on plan assets over the expected return. A plan amendment that increases benefits is made retroactive to prior years.

  Journal entry to record the transaction

Courgar Inc. issued 3,000 shares of 4% cumulative $120 par value preferred stock at par. What is the journal entry to record this transaction?

  Stillwater designs rebuilds defective units of its s12l7

stillwater designs rebuilds defective units of its s12l7 kicker speaker model. during the year stillwater rebuilt 7500

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