Morrell corporation disposed of two computers

Assignment Help Accounting Basics
Reference no: EM13868197

Prepare journal entries to record these transactions:

(a) Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $ 4,800 and their Accumulated Depreciation was $ 4,800. No residual value was received.

(b) Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $ 3,600.  

Reference no: EM13868197

Questions Cloud

Calculate the betas of portfolios a and b : Calculate the Betas of portfolios A and B. Compare the risk of each portfolio each other and also relative to the market, that portfolio is riskier?
What is the purpose of the african power figures : What is the purpose of the African power figures? Briefly describe them and discuss how they were used.  Discuss the influence of Buddhism in Japanese art. Your response should be at least 75 words in length
Blended learning in schools : Blended learning in schools. Current trends and future directions.
The concepts of liberalism and socialism : The concepts of liberalism and socialism, as well as other political ideologies. To begin,let's take a deeper look at the variations found within liberalism. Classical liberalism is based upon the work of John Locke and Adam Smith whereas modern libe..
Morrell corporation disposed of two computers : Prepare journal entries to record these transactions: (a) Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $ 4,800 and their Accumulated Depreciation was $ 4,800. No residual value was received. (..
Prepare the asset section of a classified balance sheet : Prepare the asset section of a classified balance sheet for Hasbro, Inc. Using Hasbro's 2013 Net Sales Revenue of $ 4,080 (million) and its Net Fixed Assets of $ 230 (million) at December 30, 2012, calculate the fixed asset turnover ratio for 2013. H..
Problem regarding the unity-gain bandwidth : Problem: A op-amp has unity-gain bandwidth of 105Hz. Its gain at very low frequency is 80 dB. You are using the op-amp in the inverting configuration with a signal that is at about 10 kHz. The op amp has a 10kΩ resistor in the feedback position an..
What are the sources of human capital? : What are the sources of human capital? Discuss some specific examples
Photograph a circular diffraction pattern : You want to photograph a circular diffraction pattern whose central maximum has a diameter of 1.2cm. You have a helium-neon laser (λ=633nm) and a 0.12-mm-diameter pinhole.

Reviews

Write a Review

Accounting Basics Questions & Answers

  The holder allows the option to expire

Prepare the necessary entry if the holder exercises this option - the holder allows the option to expire.

  Liquidating partnerships-capital deficiency

If Arnold is personally bankrupt and unable to pay any of the $18,000, what will be the amount of cash received by Peters and Suzuki upon liquidation?

  Veltri corporation is working on its direct labor budget

veltri corporation is working on its direct labor budget for the next two months. each unit of output requires 0.72

  Foxx corps comparative balance sheet at december 31 2011

foxx corp.s comparative balance sheet at december 31 2011 and 2010 reported accumulated depreciation balances of 800000

  Ms construction company contacted to construct a factory

ms construction company contacted to construct a factory buildingfor 525000. construction started during 2008 amp was

  In addition to gross pay the company must

paloma co. stars has four employees. fica social security taxes are 6.2nbspnbspof the first 110100 paid to each

  Problem6-2a 3a 10 sep what is the total for units cost and

problem6-2a 3a 10 sep what is the total for units cost and units sold and the total cost of goods sold problem 6-2a 3b

  Combined federal and state tax bracket

An investor recently purchased a corporate bond that yields 9.3%. The investor is in the 31% combined federal and state tax bracket. What is the bond's after-tax yield?

  Kessler inc received the following information from its

kessler inc. received the following information from its pension plan trustee concerning the operation of the companys

  Which company is doing better based on return on assets

1.calculate american eagles return on assets profit margin and asset turnover ratio.2.calculate the buckles return on

  Koontz company manufactures a number of products

Koontz Company manufactures a number of products

  Filing and legal fees related to the stock issue

The firm estimates it can sell new shares of stock for $32.50 a share. it also estimates it will cost an additional $340,000 for filing and legal fees related to the stock issue. The underwriters have agreed to a 7.5 percent spread.

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