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Federal express is the worlds leading express distribution company. In addition to the worlds largest fleet of all cargo aircraft the company has more than 645 aircraft and 47000 vehicles and trailers that pick up and deliever packages. assume that the federal express sold a small delivery truck that had been used in the business for 3 years. the rocrods of the comapny reflect the follow. delievery truck cost $28000, accumulated depreciation $23000
1. give the journal entry for the disposal of the truck.assuming that the truck sold for a. 5000 cash. b. 5600 cash. c.4600 cash.
2. base on three preceding situations, explain the effects of the disposal of an asset??
On December 1, 2010, the company declared a cash dividend of $2 per share which will be paid in cash on January 15, 2011. The annual accounting period ends December 31. Prepare the appropriate journal entries on each date.
The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for January:The activity variance for personnel expenses in January would be closest to:
Compute the resulting increase or decrease in Omega's taxable income. Explain each step
The director of capital budgeting for Big Sky Health Systems, Inc., has estimated the following cash flows in thousands of dollars for a proposed new service.
Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.
The minimum lease payments were determined to have a present value of $227,448 at an effective interest rate of 10%. With respect to this capitalized lease, for 2011 Ogleby should record:
Journalize the entries to record the liquidation outlined below,using Assets as the account title for the non cash assets and Liabilities as the account title for all creditors' claims.
Depreciation expense recorded prior to 2008 under the double-declining balance method was $36,000. Voga has already recorded 2008 depreciation expense of $12,800 using the double-declining balance method.
Which of the following statements is not accurate?
Identify at least two different accounting careers that you would like to pursue. What excites you about these careers?
Dothan Inc. has a 10% ROE and a 30% dividend payout ratio. Its stock is currently selling at $50 per share and it recently paid a $2 dividend per share. a) Calculate the internal growth rate of the company.
describe the various approaches required by current GAAP standards for reporting changes in accounting principles. Discuss how these approaches may be impacted by the adoption of new IFRS standards.
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