Exercise 9-16
Sheridan’s Delivery Company and Overland’s Express Delivery exchanged delivery trucks on January 1, 2019. Sheridan’s truck cost $21,500. It has accumulated depreciation of $15,000 and a fair value of $2,800. Overland’s truck cost $11,500. It has accumulated depreciation of $9,200 and a fair value of $2,800. The transaction has commercial substance.
Journalize the exchange for Sheridan’s Delivery Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answers: 3
Business, 22.06.2019 00:50
Hanna intends to give her granddaughter, melodee, her antique hat pin. this heirloom has been kept under lock and key in the wall vault in the library of hanna's house in virginia. the hat pin is currently the only item in the vault. when hanna is visiting melodee in connecticut, hanna gives melodee the only key to the vault. melodee is grateful for the present and excitedly accepts. in this situation has there been a completed gift?
Answers: 3
Business, 22.06.2019 06:10
P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.
Answers: 1
Business, 22.06.2019 11:00
Samantha is interested in setting up her own accounting firm and wants to specialize in the area of accounting that has experienced the most significant growth in recent years. which area of accounting should she choose as her specialty? samantha should choose as her specialty.
Answers: 1
Business, 23.06.2019 07:00
Which of the following are direct employee sources of foodborne disease organisms? a) normal flora b) sick employees c) transient microorganisms d) all of the above
Answers: 1
Exercise 9-16
Sheridan’s Delivery Company and Overland’s Express Delivery exchanged delivery t...
Sheridan’s Delivery Company and Overland’s Express Delivery exchanged delivery t...
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
English, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
History, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Chemistry, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01
Mathematics, 17.09.2020 04:01