Reference no: EM131127758
The following transactions, adjusting entries, and closing entries were completed by Trail Creek Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance method of depreciation is used.
2008
Jan. 6. Purchased a used delivery truck for $24,000, paying cash
July 19. Paid garage $500 for miscellaneous repairs to the truck.
Dec. 31. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $4,000 for the truck.
2009
Jan. 2. Purchased a new truck for $69,000, paying cash
Aug. 1. Sold the used truck for $10,250. (Record depreciation to date in 2009 for the truck)
Oct. 24. Paid garage $415 for miscellaneous repairs to the truck.
Dec. 31. Record depreciation for the new truck. It has an estimated residual value of $15,000 and an estimated life of five years.
2010
July 1. Purchased a new truck for $70,000, paying cash
Oct. 1. Sold the truck purchased January 2, 2009, for $25,000. (Record depreciation for the year).
Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $18,000 and an estimated useful life of eight years.
Instructions
Journalize the transactions and the adjusting entries.
|
Compute the expected number of silver dollars
: Compute the expected number of silver dollars in the pot after turn n ∈ N - Compute the probability that the game will stop eventually.
|
|
Describe the nature of depreciation as the term is used
: Does the recognition of depreciation in the accounts provide a special cash fund for the replacement of fixed assets? Explain.
|
|
Calculate the line current and the power factor of source
: If the line voltage is 13.8 kV, calculate the line current and the power factor of the source. Assume that the line impedance is zero.
|
|
Write down the expression for the generating function
: Write down the expression for the generating function of the distribution of the size of thepopulation at time n ∈ N0. (Note: you can use n-fold composition of functions.)
|
|
Journalize the transactions and the adjusting entries
: Dec. 31. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $4,000 for the truck.
|
|
Identify changes in forecasting methodologies
: Identify changes in forecasting methodologies and approaches (for practices such as contracting, advanced payments, outsourcing to fix a price, continuous and fixed budgeting, simulations, or regression analysis) that have been influenced by current ..
|
|
What are constitutive rules
: Use of the internet has acquired its own rules and conventions for interaction known as Netiquette. There are also rules for general use of the internet. What are regulative rules over the internet? What are constitutive rules?
|
|
Write down generating function for offspring distribution
: Write down the generating function for the offspring distribution and for what values of p will the population go extinct with probability 1.
|
|
Why should these stages replace kohlberg
: According to Kohlberg's Moral Stage Theory, there are five stages of moral development. Do you agree with Kohlberg's model? If so, in what stage would you place yourself and why? If you disagree with Kohlberg's model, identify the different stages..
|