User Account

All Pages

Discuss the difference and crediting ad van again

Assignment Help Accounting Basics
Reference no: EM131798942

- In a case where I must record transactions made by a company they ask me to depreciate a van I've purchased this year. So in 2 separate transactions I Cr cash for amount of the van and Dr Van(asset) for the same amount. I then depreciate using the units method finding that $8347 has depreciated so far, so I Dr depreciation expense $8347 and Cr A/D van $8347. The case then states at fiscal year end the van is found to have a "recoverable amount of $38 000, Do i have to depreciate further to match this amount? the van costed 51 000 and minus depreciation this year its value is more then 38 000. Do I account for this difference by Dr depreciation for the difference and crediting AD van again?

Reference no: EM131798942

Questions Cloud

Calculate the labor productivity of the line : Carbondale Casting produces cast bronze valves on a 10-person assembly line. On a recent day, 160 valves were produced during an 8 hour-shift.
Determining the interaction between major and gpa : a. At the 5% significance level, is there interaction between major and GPA? b. At the 5% significance level, can you conclude that starting salary.
What is the amount of interest revenue recognized : what is the amount of interest revenue recognized by Seller in the following year
How many laborers are employed at the plant : This year. Druehl, Inc., will produce 57,600 hot water heaters at its plant in Delaware in order to meet expected global demand.
Discuss the difference and crediting ad van again : difference by Dr depreciation for the difference and crediting AD van again
What importance does scope serve : In 150 words or more, One cannot over emphasize the planning process as critical in terms of the project's overall success.
Shows the time in seconds that a dodge viper gts requires : Modeling dodge Viper acceleration Table (a) shows the time in seconds that a Dodge Viper GTS requires to reach various speeds up to 100 mph.
Why are mortgage products like the given offered by fha : Why are mortgage products like these offered by FHA, and what are their relationships to traditional mortgage products offered by conventional mortgage lenders?
Describe the nature of operations management : Describe the nature of operations management in the following operations (use 4 decision areas; process, quality, capacity, inventory).

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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