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Question - On July 1, 2016, Alpha Company purchased for $76,000, equipment having a service life of eight years and an estimated residual value of $4,000. Alpha has recorded depreciation of the equipment using the double-declining balance method. On December 31, 2018, before making any annual adjusting entries, the equipment was exchanged for new machinery having a fair value of $35,000. The transaction has commercial substance. Using this information, how prepare a general journal entries for December 31, 2018?
What is the amount of the total adjustment they must make to their net income of $54,000 to complete the calculation
What items are deductible to the partnership? What is the amount and character of Spiderman's income? Show your calculations.
1. determine depreciation expense for year one using the straight-line method. 300 3900 600 675nbsp2. determine
Please use the using the SEC 10-K statement found at this link for both problems: What were total current assets for the two most recent years
Thogmartin Company uses special journals. It recorded in a sales journal a sale made on account to R. Peters for $435.A few days later, R. Peters returns $70 worth of merchandise for credit.
billabong tech use the internal rate of return irr to select projects. calculate the irr for each of the following
Bunnie's Bakery anticipated making 17,000 fancy cakes during a recent period, requiring 14,000 hours of process time. Each hour of process time was expected to cost the firm $11. Actual activity for the period was higher than anticipated: 18,00..
Payments on Vouchers Payable totaled $1,505,000. Prepare journal entries in all Funds journals and/or Activity journal for the related transactions provided
A musical style that combines traditional and modern elements is called
Compute the average accounts receivable turnover ratio for Montague Inc. and Lassiter Company for Year 2 and Year 1. Round to one decimal place
farber corp. a distributor of her-based sunscreen is ready to begin its 3-quarter in which peak sales occur. the
student name bravo baking co is considering replacing an older freezer with a larger unit to freeze some of its bread.
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