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Bravo Company purchased a truck on October 1, 2016. Bravo paid $10,000 for the truck in addition to $500 registration & sales taxes. The truck is expected to have a $2,000 residual value and a 5-year life. Bravo has a December 31 fiscal year end. Using the double-declining balance method, how much is: (Enter only whole dollar values.)
the 2019 depreciation expense
the accumulate depreciation after the fiscal year 2019 adjusting entry
the book value of the truck after the fiscal year 2019 adjusting entry.
Show the effects of the previous transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year.
you want to buy a piece of land and the owner would sell it to you for 120000 cash. alternatively he would let you pay
Sanya and kriti are interested in organizing a new interior decorating business as 80-20 owners. Sanya will contribute $60,000 in exchange for an 60% ownership interest and kriti will contribute $20,000 for a 20% ownership interest. Assuming the busi..
Since it was shipped as of 31 st December, does this represent a sale for the year ended on that date? What additional audit steps would be taken to evaluate that the sale is valid?
Gene is single and for 2010 has AGI of $40,000. He is age 65 and has no dependents. For 2010, he has itemized deductions from AGI of $7,000. Find out Gene’s taxable income for 2010.
Journalize the entries to record the foregoing transactions and determine the carrying amount of the bonds as of December 31, 2013.
MacKenzie Company sold $320 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit car..
Prepare a responsibility report (in thousands of dollars) for the Home Division. Evaluate the manager's performance. Which items will likely be investigated by top management?
Prepare the cash flows from operating activities section only of the company’s 2013 statement of cash flows using the indirect methods
Base on best buy 10-K form and other sourse to answer following question. Explain the type of information in the annual report that will be used and analyzed by creditors and investors, How will the objectives of these two groups differ?
Prepare a worksheet to consolidate the separate 2015 financial statements for Gibson and Keller. - How would the consolidation entries in requirement have differed if Gibson had sold a building with a $135,000 book value.
Inventory that cost $550 is sold for $950, with terms of 2/10, n/30. Prepare the journal entries for the collection of the accounts receivable assuming that it occurs during the discount period.
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