When a plant asset is retired from productive service

Assignment Help Accounting Basics
Reference no: EM131016719

1. When a plant asset is retired from productive service, (without any sale) that originally cost $100,000 and had accumulated depreciation of $80,000, the correct accounting treatment is what? 

Reference no: EM131016719

Questions Cloud

Explain which of the two projects the firm should accept : A firm must choose from one of two proposed projects presented below. The farm's cost of capital is 11.25%. Using the NPV method explain which of the two projects the firm should accept with an initial investment of initial investment  = $185000
What is the cost of goods sold : A manufacturer has beginning and ending finished goods inventory of $500,000 and $400,000 respectively. Also, the cost of goods manufactured id $120,000. what is the cost of goods sold?
What business implications of this study to chemical company : The results follow. Explain the design of the study and determine whether there is an overall significant difference between the means at a = .05? Why or why not? What are the values of the means? What are the business implications of this study t..
Depreciation expense may be recorded : Depreciation expense may be recorded for which of the following?
When a plant asset is retired from productive service : When a plant asset is retired from productive service, (without any sale) that originally cost $100,000 and had accumulated depreciation of $80,000, the correct accounting treatment is what?
What would be the correct journal entries to record : What would be the correct journal entries to record $10 depletion?
What are the cultural legal and security issues : When developing the software and functionality for an app, what are the cultural, legal, and security issues and concerns that you need to consider that may impact American culture
400/200v single phase transformer with a resistance : A 10 KVA, 400/200V single phase transformer with a resistance of 3% and a reactance of 6% is supplied a current of 50A to a resistive load. the voltage across the load
A 200 volt dc shunt motor delivers an output of 17kw : A 200 volt dc shunt motor delivers an output of 17kW with an input of 20kW. the field winding resistances is 50 ohm and armature resistance is 0.04 ohm. maximum efficiency will be obtained when the total armature copper losses are equal

Reviews

Write a Review

Accounting Basics Questions & Answers

  An elderly lady owns a home for which she had completely

an elderly lady owns a home for which she had completely paid. she arranges a reverse mortgage for 100000 whereby she

  Inventory valuation methods determine the cost of goods

inventory valuation methods determine the cost of goods sold and the inventory balance 1 explain how the average cost

  On january 1 2013 nrc credit corporation leased equipment

on january 1 2013 nrc credit corporation leased equipment to brand services under a direct financing lease designed to

  Quarter foods appropriately accounted for all of its

carefully consider the following information before answering the questions that followquarter foods began its

  Ownership of the funds

What is your opinion as to whether the funds in the plan should be part of a company's financial balance sheet or a separate entity and not part of the company's financials? If they are part of the financials what is it saying as to the ownership ..

  Azen company reported net income of 190000 for 2012 azen

azen company reported net income of 190000 for 2012. azen also reported depreciation expense of 35000 and a loss of

  Sanborn''s balance sheet as held to maturity securities

The fair value of the shares held by Sanborn was $98 million at December 31, 2013. During 2013, Jackson declared a dividend of $60 million.

  Explain how the conversion of securities firms

Conversion of securities firms to BHCs explain how the conversion of securities firms to a Bank holding company structure might reduce its risk.

  Executive summary of your companys background

Provide an executive summary of your company's background relating to business structure, operations, services and all other business activities that are conducted, etc.

  Adjusting journal entry to record securities at fair value

Cost and fair value data for the trading securities of Clifford Company at December 31, 2010, are $100,000 and $74,000, respectively. Which of the following correctly presents the adjusting journal entry to record the securities at fair value?

  Assume that next year research in motion sells off its

assume that next year research in motion sells off its interest in tip communications one of its subsidiaries.

  Governmental units that issue tax- supported debt

Which of the following is a true statement about governmental units that issue tax- supported debt to finance capital projects?

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!

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