User Account

All Pages

What is the amount of the gain or loss

Assignment Help Accounting Basics
Reference no: EM131695612

Question 1 - On December 31, Strike Company sold one of its batting cages for $25,290. The equipment had an original cost of $252,900 and has accumulated depreciation of $227,610. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?

a. Gain of $25,290

b. Gain of $455,220

c. no gain or loss

d. cannot be determined.

Question 2 - A machine with a cost of $52,900 has an estimated residual value of $3,970 and an estimated life of 5 years or 15,216 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?

a. $10,580

b. $21,160

c. $19,572

d. $12,696

Reference no: EM131695612

Questions Cloud

Determine the second-year depreciation : Computer equipment was acquired at the beginning of the year, Determine the second-year depreciation using the straight-line method
Can you reject the magazine claim in a two-tailed test : According to BusinessWeek, the Standard & Poor's 500 Index posted an average gain of 13% for 2006.12 If a random sample of 50 stocks from this index reveals.
Explain the three levels of management hierarchy : Discuss how the three levels of management hierarchy: strategic, management, and operational relates to the mission of a business.
Explore the advantage inherent in option you did not choose : Explore the advantages and disadvantages inherent in the option you did not choose. Explain the advantages and disadvantages of the choice you made.
What is the amount of the gain or loss : On December 31, Strike Company sold one of its batting cages for $25,290. What is the amount of the gain or loss on this transaction
Can a smart neighborhood watch decrease home invasion : Can a "smart" neighborhood watch reduce the opportunity for crime by increasing the detection of suspicious activity?
Receiving take to process an application : Underwriting team How long does Receiving take to process an application?
Concrete data required to steer planning-development : How/why does a market analysis provide the concrete data required to steer planning and development into a new venture?
Compute the standard hours allowed for actual deliveries : Rostand employs a standard costing system. During the year, a variable overhead rate of $5.10 per hour was used.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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