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National Truck Company is a large trucking company that operates throughout the United States. National Truck Company uses the units-of-production (UOP) method to depreciate its trucks. National Truck Company trades in trucks often to keep driver morale high and to maximize fuel economy. Consider these facts about one Mack truck in the company's fleet: When acquired in 2012, the tractor-trailer rig cost $360,000 and was expected to remain in service for 10 years or 1,000,000 miles. Estimated residual value was $50,000. During 2012, the truck was driven 75,000 miles; during 2013, 85,000 miles; and during 2014, 135,000 miles. After 39,000 miles in 2015, the company traded in the Mack truck for a less-expensive Freightliner with a sticker price of $210,000. National Truck Company paid cash of $20,000.Determine National's gain or loss on the transaction. Prepare the journal entry to record the trade-in of the old truck on the new one.
while performing an audit of the financial statements of a company for the year ended december 31 2xx1 the auditor
prior to june 1 a company has never had any treasury stock transactions. a company repurchased 100 shares of its common
What will be the Average Shareholder's Equity?
hinshaw company purchased a new machine on october 1 2014 at a cost of 87200. the company estimated that the machine
During the last week of August, Apache Arts Company's owner approaches the bank for an $107,500 loan to be made on September 2 and repaid on November 30 with annual interest of 14%, for an interest cost of $3,763.
Compute the Company's EVA for 20X4 and 20X5. Compare the company's performance in creating value for its shareholders in 20X5 with that in 20X4.
1. t contributed 100000 to a real estate llc in exchange for a 10 interest in capital and profits and losses. the
franklin has received a special order for 10000 units of its product at a special price of 15. the product normally
She has a large amount of income from other sources and is in the 33% marginal tax bracket. Would Tina's tax situation be better if XYZ were a proprietorship or a C-corporation? Explain why.
The Pizza Pit is a local chain of pizza restaurants in Dallas. The chain has 30 locations throughout the city and its suburbs. The management is considering opening a Web site to conduct e-commerce with customers. Describe any benefits that might be ..
Record each of the following transactions in Gagon's general journal-1. Issued capital stock for $75,000 cash. 2. Borrowed $35,000 from a bank. Signed a note to secure the debt.
The records of Mandy's Boutique report the following data for the month of April.
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