Reference no: EM132016993
Problem - On December 31, 2014, Travis Tritt Inc. has a machine with a book value of $940,000. The original cost and related accumulated depreciation at this date are as follows.
Machine - $1,300,000
Less: Accumulated depreciation - 360,000
Book value - $940,000
Depreciation is computed at $60,000 per year on a straight-line basis.
Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.
A fire completely destroys the machine on August 31, 2015. An insurance settlement of $430,000 was received for this casualty. Assume the settlement was received immediately.
On April 1, 2015, Tritt sold the machine for $1,040,000 to Dwight Yoakam Company.
On July 31, 2015, the company donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be $1,100,000.
|
End of the electron transport chain
: Assume that 1 NADH produces 2.5 ATPs and 1 FADH2 produces 1.5 ATPs at the end of the electron transport chain and the ATP synthase steps.
|
|
Which investment would generate the greater after-tax yield
: Assume that a taxpayer has a marginal tax rate of 33%. How much of the income from a corporate bond earning interest at a 7% rate
|
|
Summarize one-carbon-two-carbon
: Summarize one-carbon, two-carbon, three-carbon, four- carbon, five-carbon and six-carbon units orcompounds which are important in metabolism.
|
|
Phosphate group from atp to glucose to form glucose
: For Reaction 1 of glycolysis, hexokinase catalyzes the transfer of a phosphate group from ATP to glucose to form glucose-1-phosphate, ADP, and a H+.
|
|
Indicate journal entry to be made to record the transaction
: Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction
|
|
How many milligrams of vit-c
: How many milligrams of Vit-C are there per 100-gram serving of raw fruit?
|
|
What is the concentration of ascorbic acid
: What is the concentration of ascorbic acid in the orange juice in mg/100 mL?
|
|
What was the ph of the original solution
: She adds 6.0 mL of 1.0 M HCL, which changes the pH to 5.7. What was the pH of the original solution?
|
|
Identify the individuals to receive mental health
: Identify the individuals to receive mental health awareness training, the population of focus for which the training is intended to help, and the geographic
|