Edward Company purchased a bulldozer on July1 , 2003.for $120,000, and estimated the useful life of the bulldozer to be 60,000 hours of use, and a salvage value of $30,000. In 2003, they used the bulldozer for 12,000 hours, and in 2004, it was used for 16,000 hours before it was destroyed by a fire. The proceeds from the insurance company were $80,000. The journal entry to record the disposal of the bulldozer will include a: A) debit to loss on disposal of $7,000 B) credit to gain on disposal of $2,000 C) debit to loss on disposal of $2,000 D) debit to loss on disposal of $16,000 E) credit to gain on disposal of $16,000

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

What cylinder head operation is the technician performing in this figure?

Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2