Mayer instrumentation sold a depreciable

Assignment Help Financial Accounting
Reference no: EM13925788

Mayer Instrumentation sold a depreciable asset for cash of $202,000. The original cost of the asset was $1,250,000. Mayer recognized a gain of $30,000 on the sale. What was the amount of accumulated depreciation on the asset at the time of its sale?

Reference no: EM13925788

Questions Cloud

Envirofacts data warehouse : The Envirofacts Data Warehouse, Environmental Protection Agency, is available at http://www.epa.gov/enviro. This is a data warehouse for public use. Enter your locality and search through the online data warehouse. You may have to modify your loca..
Lease payments and utilities on the production : During its first year of operations, Silverman Company paid $11,440 for direct materials and $9,900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,900
Kentucky eagle leadership evaluation : Announce performance appraisals will be conducted on a particular day and watch people react; some become excited because it is an opportunity to receive an opinion on work performed, the possibility of a raise, or even a promotion.
Models for competitive dynamics : The DYB is an approach to strategic planning that was implemented by leadership guru Jack Welch at General Electric (Pearlson, K. & Saunders, C. , 2013, pg. 31).
Mayer instrumentation sold a depreciable : Mayer Instrumentation sold a depreciable asset for cash of $202,000. The original cost of the asset was $1,250,000. Mayer recognized a gain of $30,000 on the sale. What was the amount of accumulated depreciation on the asset at the time of its sale.
What is the direction and magnitude : Another infinite straight wire, aligned with the y-axis is now added at a distance 2L = 68 cm from segment bc of the loop as shown. A current, I3, flows in this wire. The loop now experiences a net force of zero.
Combination of both physical and logical access controls : The daily operation of a pharmacy is a unique business that requires a combination of both physical and logical access controls to protect medication and funds maintained located on the premises and personally identifiable information and protecte..
Explain the manner in which nate silver analysis : Summarize the blog entry that you have read. Next, explain the manner in which Nate Silver's analysis in your chosen blog entry addresses the salient points of one particular topic related to this class.
What amount of total assets would powell report : What amount of total assets would Powell report on the December 31, 2014, balance sheet?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the total cost per unit for each month

Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year and calculate the total cost per unit for each month

  The net cash flow provided by operating activities

Last year Burford Company's cash account decreased by $19,000. Net cash used in investing activities was $9,000. Net cash provided by financing activities was $16,000. On the statement of cash flows, the net cash flow provided by (used in) operating ..

  Prepare a trial balance as on mar 31 2010

Mr. Dev is the owner of a factory. From the following balances that are extracted from his ledger, you are required to prepare a Trial Balance as on Mar 31, 2010.

  Calculate the cash flow ratios presented in the readings

Choose a publicly traded company, and review its statement of cash flows. Provide a link to the statement in your post. Do not choose a company about which one of your classmates has already posted. Calculate the cash flow ratios presented in the rea..

  Journalise and post entries in trial balance?

Of the cash payments received from customers on December 1, 20% of these services were performed in December and half relates to future services to be rendered in the following year.

  Prepare the bank reconciliation for swat pte ltd

For each of the above situations, indicate whether you agree or disagree with the accounting treatment. If agree, explain which assumption or principle supports the accounting treatment. If disagree, explain which assumption or principle is viol..

  Determines that fells balance is uncollectible

The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.

  Prepare a cash flow forecast

Prepare a Cash Flow Forecast for AudioFile for the month of January 2013. Include appropriate supporting schedules.

  What is the amount of cummings company total assets

The liabilities of Cummings Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Cummings Company's total assets?

  Equity in subsidiary earnings

Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2010. Janex's reported earnings for 2010 totaled $432,000, and it paid $120,000 in dividends during the year. On the consolidated financial statements for 2010..

  Arise when full cost plus a markup is used as transfer price

What problems can arise when full cost plus a markup is used as a transfer price? There are six categories of costs associated with inventor able goods for sale. What are they? How would the handling of transfer prices differ in a perfectly competiti..

  Calculate the cost of ending work in process

At the start of November, Penco Refinery had Work in Process inventory consiting of 4,000 units that were 70% complete with respect to materials and 50% complete with respect to conversion costs. Calculate the cost of items completed during November...

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd