Reference no: EM131816665
Question - Here are selected 2010 transactions of Falk Corporation.
Jan. 1 Retired a piece of machinery that was purchased on January 1, 2000. The machine cost $61,442 and had a useful life of 10 years with no salvage value.
June 30 Sold a computer that was purchased on January 1, 2008. The computer cost $33,380 and had a useful life of 3 years with no salvage value. The computer was sold for $4,187 cash.
Dec. 31 Sold a delivery truck for $9,808 cash. The truck cost $27,066 when it was purchased on January 1, 2007, and was depreciated based on a 5-year useful life with a $2,791 salvage value.
Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Falk Corporation uses straight-line depreciation.
|
Discuss financial accounting issues
: Assume the role of auditor, and discuss any financial accounting issues you identify in preparation for fiscal year ending December 31, 2015
|
|
Journalize entry to record the payroll for week of december
: Social security tax withheld 25,380. Journalize the entry to record the payroll for the week of December 17
|
|
What advantages accrue to the senior manager of having
: Do you think Anne's post that she was "Out too late last night" was inappropriate, given that she knew that her professional colleagues were reading her page?
|
|
How has first national bank used digital and social media
: How has First National Bank (FNB) used digital and social media to engage with its customers? Use 3-5 secondary sources to support your analysis.
|
|
Journalize all entries required on the above dates
: Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable
|
|
Identify potential costs for each component for development
: (1) upgrading to Version 3 of the current software, (2) licensing the open source software, and (3) licensing another vendor's thin-client software.
|
|
Compute the gain or loss on the sale
: On January 2, 2011, Kinnaird Hospital purchased a $103,150 special radiology scanner from Faital Inc. Compute the gain or loss on the sale
|
|
What is the maximum amount that joint costs can increase
: What is the maximum amount that joint costs can increase before (a) it would not be better to process chewing tobacco further into premium chewing tobacco.
|
|
Find the proportions of hate crimes motivated
: Find the proportions of hate crimes motivated by the victim's sexual orientation for white and for black offenders and tell which is higher.
|