The accounting records of hercules manufacturing

Assignment Help Accounting Basics
Reference no: EM131014980

At December 31, 2014, the accounting records of Hercules Manufacturing, Inc. contain the following items:

1860_13252703207908983873 (1).png

11.Required information
Refer to the information above. If Retained Earnings at December 31, 2014, is $100,000, Equipment is carried in Hercules Manufacturing, Inc. accounting records at:
$42,000.
$58,000.
$43,500.
$345,000.

12. Required information
Refer to the information above. Assume that the Equipment shown above was acquired by the business five years ago and has a book value of $156,000, but has a current appraised value of $200,000. Hercules Manufacturing's Retained Earnings at December 31, 2014, amounts to:
$533,000.
$345,000.
$198,000.
$356,000. 

Reference no: EM131014980

Questions Cloud

What is the composition of the vapor phase : At 20°C and 0.073 bar, a binary liquid mixture of cyclohexane (1) and toluene (2) is in vapor-liquid equilibrium. The liquid mole fraction of cyclohexane is measured to be x1 5 0.471. Assume that the liquid phase nonideality can be represented by..
Determine if zeta function converges or diverges : The Riemann zeta function, defined as ζ(s) = X∞ n = 11/ns is an extremely important function in mathematics. Determine if ζ(1) converges or diverges.
Determine temperature and vapor phase mole fraction of a : A binary mixture of water (1) and benzene (2) is in vapor-liquid equilibrium at a liquid mole fraction x1 5 0.6 and a pressure of 74.5 kPa. The liquid phase nonideality can be described by the two-suffix Margules equation with A/ 1 RT 2 5 2.74. D..
Accounts payable department of a major retailer : Joanne Germano works in an accounts payable department of a major retailer. She has attempted to convince her boss to take the discount on the 1/15 net 65 credit terms most suppliers offer, but her boss argues that giving up the 1% discount is less c..
The accounting records of hercules manufacturing : Refer to the information above. If Retained Earnings at December 31, 2014, is $100,000, Equipment is carried in Hercules Manufacturing, Inc. accounting records at:$42,000.$58,000.$43,500.$345,000.
Load of stadium seating equipment for delivery : Lawrence Hardesty, a long-haul tractor-trailer driver, picked up a load of stadium seating equipment for delivery to an NFL stadium under construction in Baltimore. While workers were loading the seats and equipment, Mr. Hardesty stayed in the cab..
What is the importance of optimal capital structure : What is the importance of optimal capital structure? Should a company base its optimal capital structure on the book value, market values or target values? What is recommended for Nike's optimal capital structure and why?
Determine the temperature and the vapor composition : A liquid mixture containing 40% cyclohexane, 20% benzene, 25% toluene, and 15% n-heptane is in equilibrium with its vapor at 1 bar. Determine the temperature and the vapor composition.
The present value of the settlement : A brilliant young scientist is killed in a plane crash. It was anticipated that he could have earned $330,000 a year for the next 50 years. The attorney for the plaintiff’s estate argues that the lost income should be discounted back to the present a..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Find the z-score of the observed proportion

a) Find the z-score of the observed proportion. b) Compare the z-score to the critical value for a 0.1% significance level using a one-sided alternative. c) Explain your conclusion.

  Mr landis president of assault weapons inc was pleased to

mr. landis president of assault weapons inc. was pleased to hear that he had three offers from major defense companies

  Explain the logic behind how mrps gross-to-net calculations

explain the logic behind how mrps gross-to-net calculations are processed. what input files are included in this

  Do you believe that internal management accountants possess

as the management accountant at ajack partnership you are involved in the planning and control of financial statements

  How bout now a clothing retailer had cost of goods sold of

how bout now a clothing retailer had cost of goods sold of 525000 last year. the beginning inventory balance was 32500

  You are considering the purchase of zee company stock you

you are considering the purchase of zee company stock. you anticipate that the company will pay dividends of 3.50 per

  Understanding the clients business

It is necessary for the auditor to understand the client's business. Why is that the case? How does classifying the client into a safe or risky client affect the audit?

  Correct percentage of on-time deliveries

There's a 22% chance that the sample they drew shows the correct percentage of on-time deliveries There's a 22% chance that natural sampling variation could produce a sample with an observed proportion of on-time deliveries such as the one they obt..

  Prepare the companys first set of financial statements

On October 1, 2011, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and custom program development. Rey adopts the calenda..

  Frank weston supervisor of the freemont corporations

frank weston supervisor of the freemont corporations machining department was visibly upset after being reprimanded for

  In december 2008 dreamvision established its predetermined

in december 2008 dreamvision established its predetermined overhead rate for movies produced during year 2009 by using

  What perspectives mean for power of accountants in society

Australian financial reporting regulatory environment, the issues of regulatory capture and private interests do adversely affect the objective of the provision of useful information for users of public company financial reports

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