subject
Business, 20.06.2020 22:57 Jasten

Jan. 1 Traded in old office equipment with book value of $70,000 (cost of $ 139,000 and accumulated depreciation of $ $69,000) for new equipment.
LenoraLenora also paid $100,000 in cash. Fair value of new equipment is $172,000.
Assume the exchange had commercial substance.
Apr. 1 Sold equipment that cost $48,000
(accumulated depreciation of $37,000 through December 31 of the preceding year).
LenoraLenora received $6,600 cash from the sale of the equipment. Depreciation is computed on astraight-line basis. The equipment has a fivefive-year useful life and a residual value of $0.
Dec. 31 Recorded depreciation as follows:
Office equipment is depreciated using the double-declining-balance method over
fourfour years with a $ 2 comma 000$2,000 residual value.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 02:40
Which critical success factor improves with reduced cycle time, better quality standards, and improved efficiency when an is is implemented?
Answers: 3
question
Business, 22.06.2019 03:40
2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.
Answers: 2
question
Business, 22.06.2019 20:00
Ryngard corp's sales last year were $38,000, and its total assets were $16,000. what was its total assets turnover ratio (tato)? a. 2.04b. 2.14c. 2.26d. 2.38e. 2.49
Answers: 1
question
Business, 22.06.2019 21:10
Your family business uses a secret recipe to produce salsa and distributes it through both smaller specialty stores and chain supermarkets. the chain supermarkets have been demanding sizable discounts, but you do not want to drop your prices to the specialty stores. true or false: the robinson-patman act limits your ability to offer discounts to the chain supermarkets while leaving the price high for the smaller stores. true false
Answers: 3
You know the right answer?
Jan. 1 Traded in old office equipment with book value of $70,000 (cost of $ 139,000 and accumulated...
Questions
question
Mathematics, 19.01.2021 22:40
question
Mathematics, 19.01.2021 22:40
question
Mathematics, 19.01.2021 22:40
Questions on the website: 13722363