Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
January 1, Peter began a calendar year business. It is a dog grooming business called Favre's Palace. Peter placed the following assets in service during the year:
Asset
Date Acquired
Cost Basis
Computer equipment
March 23
$ 5,000
Dog grooming furniture
May 12
$ 7,000
Pickup truck
September 17
$ 10,000
Commercial building
October 11
$270,000
Land (one acre)
$ 80,000
Assume Peter does not elect section 179 expensing or bonus depreciation, answer the following;
1. What is Favre's Palace year 1 depreciation for each asset?
2. What is Favre's Palace year 2 depreciation for each asset?
What is the journal entry for a endowment that was invested in $95,000 of par value City of Jackson 6 percent bonds at 103 plus accrued interest of $823.
listed below are the transactions that affected the shareholders equity of branch-rickie coporation during the period
Following is a list of various costs incurred in producing frozen pizzas. With respect to the production and sale of frozen pizzas, classify each cost as either variable, fixed, or mixed.
on january 1 2014 parker company obtained a 125000 four-year 6 installment note from clark bank. the note requires
acquiring corporation transfers 5000 shares of its stock worth 300000 and land worth 50000 basis to acquiring 30000 for
Hamilton Company owns 51,000 of Hennie Company's 100,000 outstanding shares of common stock. Hennie Company pays $25,000 in total cash dividends to its shareholders. Hamilton's entry to record this transaction should include a:
What are management's incentives for establishing and maintaining strong internal controls?
Beeline Manufacturing produces two types of industrial ventilation machines: heavy-duty and standard. The assignment basis for overhead costs has always been direct labor hours. For 2013, Beeline compiled the following data for the two products
You have been running a sole-proprietorship business dealing in cosmetic products. You have been accurately recording all your sale and purchase transactions in journals and using the journals in the general ledger accounts.
Management estimates that it costs $500 to analyze and close a commerical loan. This amount has been included in the $250,000 of inderict costs. How much of the $250,000 indirect costs should be allocated to the Consumer Department?
Post journal entries for equity transactions and closing entries
You own a portfolio that is 38 percent invested in Stock X, 22 percent in Stock Y, and 40 percent in Stock Z. The expected returns on these three stocks are 10 percent, 15 percent, and 12 percent, respectively.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd