Morrell corporation disposed of two computers

Assignment Help Accounting Basics
Reference no: EM13868197

Prepare journal entries to record these transactions:

(a) Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $ 4,800 and their Accumulated Depreciation was $ 4,800. No residual value was received.

(b) Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $ 3,600.  

Reference no: EM13868197

Questions Cloud

Calculate the betas of portfolios a and b : Calculate the Betas of portfolios A and B. Compare the risk of each portfolio each other and also relative to the market, that portfolio is riskier?
What is the purpose of the african power figures : What is the purpose of the African power figures? Briefly describe them and discuss how they were used.  Discuss the influence of Buddhism in Japanese art. Your response should be at least 75 words in length
Blended learning in schools : Blended learning in schools. Current trends and future directions.
The concepts of liberalism and socialism : The concepts of liberalism and socialism, as well as other political ideologies. To begin,let's take a deeper look at the variations found within liberalism. Classical liberalism is based upon the work of John Locke and Adam Smith whereas modern libe..
Morrell corporation disposed of two computers : Prepare journal entries to record these transactions: (a) Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $ 4,800 and their Accumulated Depreciation was $ 4,800. No residual value was received. (..
Prepare the asset section of a classified balance sheet : Prepare the asset section of a classified balance sheet for Hasbro, Inc. Using Hasbro's 2013 Net Sales Revenue of $ 4,080 (million) and its Net Fixed Assets of $ 230 (million) at December 30, 2012, calculate the fixed asset turnover ratio for 2013. H..
Problem regarding the unity-gain bandwidth : Problem: A op-amp has unity-gain bandwidth of 105Hz. Its gain at very low frequency is 80 dB. You are using the op-amp in the inverting configuration with a signal that is at about 10 kHz. The op amp has a 10kΩ resistor in the feedback position an..
What are the sources of human capital? : What are the sources of human capital? Discuss some specific examples
Photograph a circular diffraction pattern : You want to photograph a circular diffraction pattern whose central maximum has a diameter of 1.2cm. You have a helium-neon laser (λ=633nm) and a 0.12-mm-diameter pinhole.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Caterpillar is the largest industry who makes

caterpillar is the largest industry who makes constructionequipment. company is interesting to build a new crain which

  At one time circle k was the second-largest convenience

at one time circle k was the second-largest convenience store chain in the united states. at its peak circle k operated

  Average of time estimated to complete a repair job

Labor costs of an auto repair mechanic are seldom based on actual hours worked. Instead, the amount paid a mechanic is based on an industry average of time estimated to complete a repair job.

  Important indicators of the health of a company

Net Income and Net Operating Cash Flows are both important indicators of the health of a company. But why are they different? What do they have in common, and what makes them so important? Is there a relationship with the other sections of the cas..

  Year-end unadjusted trial balance

Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.0% of sales. Prepare the December 31 year-end ad..

  Lease amortization schedule and appropriate entries

Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the inception of the lease through January 1, 2012. Amortization is recorded at the end of each fiscal year (December 31) on a straight-line basis

  How much inventory was transferred to wip

At the beginning of 2010 Stand Still Industries had $1,200 of raw materials in inventory. By December 31 they had $1,500 of raw materials inventory. During the year, the company purchased $183,000 of materials; of which it paid $175,500 and the ba..

  Compute income tax payable-prepare journal entries

Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2007. Prepare the income tax expense section of the income statement for 2007, beginning with the line "Income before income taxes."

  A company uses a process cost accounting system its

a company uses a process cost accounting system. its assembly departments beginning inventory consisted of 50000 units.

  Determine the materials price and quantity variances for

one of the products of hearts amp flowers is a one-pound boxof chocolate candy packaged in a box bearing the

  Bad debt expense of smithson corporation

Smithson corporation had a 1/1/08 balance in the allowance for doubtful accounts of $10000. During 2008, it wrote off $7200 of accounts receivable and collected $2100 on accounts previously written off.

  Prepare the operating activities section of given statement

Determining Net Cash Flow from Operating Activities Indirect Method [LO4]. Required Prepare the operating activities section of the statement of cash flows using the indirect method.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd