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Presented below are selected transactions at thomas company for 2006. Jan1st - Retired a piece of machinery that was purchased on Jan 1st 1996. The machine cost 62,000 on that date. It had a useful life of 10 years with no salvage value. June30th - Sold a computer that was purchased on Jan 1st 2003. The computer cost 35,000. It had a useful life of 5 years with no salvage value. The computer sold for 12,000. DEC31st - Discarded a delivery truck that was purchased on Jan1st 2002. The truck cost 33,000. It was depreciated based on a 6 year useful life with a 3,000 salvage value.
INSTRUCTIONS: Journalize all entries required on the abouve dates, including entries to update depreciation, where applicable, on assets disposed of. Thomas Company uses straight-line depreciation. (Assume depreciation is uo to date as of Dec 31 2005.
question 1.a budget is a formal written statement of managements strategies for the future expressed in financial
Illustrate what business risks does JetBlue face that may threaten the company’s ability to satisfy stockholder expectations? What are some examples of control activities that the company could use to reduce these risks?
How does this change affect the incentives for working? b. How might this change represent a trade-off between equality and efficiency?
question use the internet to research two publically traded united states companies and download their financial
What amount could Ray include in his gross income from receiving the life insurance proceeds? The insurance company paid Ray $16,000 interest on the life insurance proceeds through the period Carin's estate was in administration.
The current owner have no debt financing but Templeton plans to borrow $320 million and invest $100 million in equity. Illustrate what weight should Templeton use in computing the WACC for this acquisiton? Round to one decimal place.
this information determine the total stockholders equity reported in the companys balance sheet dated december 31,2007
The division is dropped, the staff will be laid-off, with the exception of one person who will be assigned to another job. Her salary is $45,000. Should the division be dropped?
Over how many years should Sooner or Later recognize compensation cost associated with the stock options, and how much, if any, should be recognized in each of those years? The effects of forfeitures and income taxes should be ignored.
The tax rate is expected to remain at 40 percent and On the basis of this information, what will be the forecast for Robert's year-end net income?
How has The Home Depot's profitability changed over recent years? On what measures are you basing your response? If you were one of the company's corporate managers, would you be satisfied with the trend in gross profit?
Prepare a budgeted income statement for the quarter ending March 31, xxxx - 11 and calculate ending balances as of March 31,
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