User Account

All Pages

What was the profit or loss on disposal

Assignment Help Accounting Basics
Reference no: EM132715072

Question: a) During the year to 30 June 20X7, Eugene Ltd sold a non-current asset for $36,000. It had been acquired three years ago at a cost of $180,000. At the date of disposal of the asset, the accumulated depreciation was $138,000.

What was the profit or loss on disposal, and what journal entries are needed to record the disposal?

b) Compare and contrast the allowance and direct write off method for uncollectible receivables.

Reference no: EM132715072

Questions Cloud

Journalize the entries to record these transactions : Incurred factory overhead costs as follows: indirect materials, $800; indirect labor, $3,400; Journalize the entries to record these transactions
Equifax data breach cat : Many of you have by now become aware of the Equifax data breach that happened in 2017. Please see the link below for more information:
Enterprise applications software differ from conventional : Explain how enterprise applications software differ from conventional (or individual) consumer applications software.
How do we translate the strategic plan into actions : Name a healthcare organization's that has a strategic plan and answer the following questions
What was the profit or loss on disposal : During the year to 30 June 20X7, Eugene Ltd sold a non-current asset for $36,000. It had been acquired three years ago at a cost of $180,000.
Prepare variance analyses for the variable and fixed costs : Prepare variance analyses for the variable and fixed costs. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable.)
Collect ads for any four different brands : Collect ads for any four different brands (Print ad) in an identical product category (e.g., detergent, cars, toothpaste, etc).
Develop disaster recovery plan for organization : Develop a disaster recovery plan for an organization. There are many different templates available online for you to use as reference and guidance
Calculate the fixed cost of maintenance : Andover Company makes weather balloons. The company controller wanted to calculate the fixed and variable costs associated with the maintenance costs incurred.

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