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Pryce Company owns equipment that cost $62,400 when purchased on January 1, 2011. It has been depreciated using the straight-line method based on estimated salvage value of $7,000 and an estimated useful life of 5 years. Prepare Pryce Companys journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g.125.)
(a) Sold for $34,240 on January 1, 2014. (b) Sold for $34,240 on May 1, 2014. (c) Sold for $10,160 on January 1, 2014. (d) Sold for $10,160 on October 1, 2014. I dont need the calculations but just help with what the account titles would be.
Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2, prepare the journal entry to record the purchase by Broadcourt.
cash and production budget. p sells a single specialty product imported from denmark. sales for the six months ended
degrees inc. a manufacturer of frozen food began operations on july 1 of the current year. during this time the company
Determine if a capital expenditure such as the cost of a swimming pool qualifies for the medical expense deduction.
what is the amount of the charitable contribution carry foward for sheila jones?
With the number of workers currently employed, that means that the company is committed tp paying its direct labor work force at lease 5600 hours in total each month even if there is not enought work to keep them busy. Construct the direct labor b..
The mid-quarter convention applies to personal property
a citys general fund makes a permanent contribution of 800000 to an internal service fund isf so that the isf can
laker company reported the following january purchases and sales data for its only product.dateactivitiesunits acquired
What is the distinction, as drawn by the GASB, between a fiduciary fund and a permanent fund? How should governments report permanent fund and fiduciary fund balances and income in their government-wide statements?
Prepare the entries to record the receivables transactions - calculate the net realizable value of accounts receivable at 12/31/10
After completing her residency, an obstetrician plans to invest $10,000 per year at the end of each year in a low-risk retirement account. She expects to earn five percent for 35 years. What will her retirement account be worth at the end of these..
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