Saturday
April 19, 2014

Search: An asset is purchased for $50,000. It has an estimated useful life of eight years and salvage value of $6,000

Number of results: 37,299

Math
An asset is purchased for$50,000.It has an estimated useful life of 12 years and a salvage value of $5,000. What is the annual depreciation of the asset using the straight-line method?
Tuesday, July 7, 2009 at 12:28am by Kara

Math
An asset is purchased for $50,000. It has an estimated useful life of eight years and salvage value of $6,000.if the asset is depreciated using the double-declining balance method,what are the depreciation expense and book value at the end of year two?
Thursday, July 9, 2009 at 12:34am by Kara

business math
An asset is purchased for $50,000. It has an estimated useful life of 12 years and a salvage value of $5,00
Wednesday, February 8, 2012 at 1:42pm by T.

accounting
How do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but the estimated useful life is unchanged. ...
Thursday, December 3, 2009 at 12:36pm by Peaches

Straight-line Depreciation
Please how do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but the estimated useful life is ...
Thursday, December 3, 2009 at 12:26pm by Peaches

Accounting
Jeff Corporation purchased a limited-life intangible asset for $120,000 on May 1, 2006. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008? $ -0- $24,000 $32,000 $36,000
Saturday, April 25, 2009 at 6:09pm by Bigboy

Accounting
Rich Corporation purchased a limited-life intangible asset for $180,000 on May 1, 2006. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008? $ -0- $36,000 $48,000 $54,000
Saturday, April 25, 2009 at 6:11pm by ESAPROUD

Financial Accounting
1. Post the following transactions of a restaurant to prepare the journal ledger and trial balance. Jan - 2011 Transaction Amount 5 Started the business with cash 2,50,000 10 Deposited in the bank 50,000 15 Purchased tables and chairs 80,000 20 Purchased Freeze 30,000 ...
Wednesday, January 11, 2012 at 6:11am by Kavya Tank

Business Maths
Please show me how to calculate this problem: During 2007, Sitter Corporation reported net sales of $2,000,000, net income of $1,200,000, and depreciation expense of $100,000. Sitter also beginning total asset of $1,000,000, ending total asset of $1,500,000, plant asset of $...
Friday, December 4, 2009 at 8:25am by Peaches

math
A company purchased a truck for $50,000 on July 1, 2009. The truck has an estimated useful life of 5 years and will have no salvage value. It is estimated that the truck can be driven for 150,000 miles. The truck was driven for 18,000 miles during 2009. If the goal is to ...
Tuesday, August 4, 2009 at 11:03pm by Anonymous

Managerial Accounting
Kim Johnson purchased an asset for $80,000. Annual operating cash inflows are expected to be $30,000 each year for four years. At the end of the life of the asset, Kim will not be able to sell the asset because it will have no salvage value. Required: What is the net present ...
Saturday, April 13, 2013 at 3:02am by Lisa

Math
P Inc.purchased a $30,000 asset with a salvage value of$1,200 and an estimated useful life of three years.what is the book value at the end of years one and two using the 150% declining balance method?
Thursday, July 9, 2009 at 11:03pm by Kara

math
Parker Inc. purchased a $30,000 asset with a salvage value of $1,200 and an estimated useful life of three years. What is the book value at the end of years one and two using the 150% declining balance method?
Tuesday, May 10, 2011 at 8:51pm by Anonymous

Straight-line Depreciation
A company purchased a truck for $50,000 on July 1, 2009. The truck has an estimated useful life of 5 years and will have no salvage value. It is estimated that the truck can be driven for 150,000 miles. The truck was driven for 18,000 miles during 2009. If the goal is to ...
Thursday, December 3, 2009 at 12:26pm by Anonymous

Business Finance - Check/Help
Smith Manufacturing is considering the sale of two non depreciable assets, A and B. Asset A was purchased for $2000 and will be sold today for $2250. Asset B was purchased for $30,000 and will be sold today for $35000. The firm is subject to a 40% tax rate on capital gains. 1...
Sunday, September 11, 2011 at 2:30pm by Sam

accounting
1-On May 1, 2012, Pinkley Company sells office furniture for $150,000 cash. The office furniture originally cost $375,000 when purchased on January 1, 2005. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $37,500. What depreciation ...
Monday, February 25, 2013 at 12:26pm by miley

Accounting
In 2000, purchased land for $5,600,000 that had a natural resource supply estimated at 4,000,000 tons. When the natural resources are removed, the land has an estimated value of $640,000. The required restoration cost for the property is estimated to be $800,000. Development ...
Friday, February 13, 2009 at 11:29am by Cindy

Finance
Assemble the assumptions in an orderly manner: Assumption 1: initial cost of the investment = $60,000. Assumption 2a: estimated annual net cash inflow the investment will generate = $30,000. Assumption 2b: estimated annual net cash inflow the investment will generate after ...
Wednesday, July 27, 2011 at 10:00pm by La Shawn

accounting
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years and a legal life of 20 years
Friday, July 8, 2011 at 3:13pm by stacey

Accounting
Janes Company provided the following information on intangible assets: a. A patent was purchased from the lou Company for $700,000 on January 1, 2007. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lou's accounting records at ...
Wednesday, April 6, 2011 at 8:34pm by Bobbi Loffredo

accounting
A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000). During the machine's 5-year life its hourly usage...
Saturday, August 25, 2012 at 4:02pm by Dan

accounting
increase an asset and increase a liability : Purchased supplies on account. Increases supplies (asset) and increases accounts payable (liability). increase one asset and decrease another asset: Purchased supplies with cash. Increase supplies (Asset) decrease cash (Asset). ...
Sunday, November 9, 2008 at 12:17pm by Gina

Finance
Cochrane, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $1,860,000. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is ...
Monday, March 24, 2014 at 10:12pm by Alec

Accounting-Journal Entry
Cypress purchased a 50,000-hectare tract of timber land at Westerlund on June 7,2010, for $50 million, paying $10 million cash and signing a % mortgage payable for the balance. Principal payments of $8 million and the annual interest on the mortgage are due each December 31. ...
Sunday, January 30, 2011 at 5:16pm by Thara

accounting
James, Inc. discovered that equipment purchased three years ago for $600,000 will not last as long as originally estimated. The firm was depreciating the equipment at the rate of $80,000 per year with an estimated salvage value of $40,000. New estimates indicate that the ...
Sunday, June 3, 2012 at 2:59pm by T Smith

Math accounting
The following selected transactions were completed by Pilgrim Delivery Service during July: 1. Received cash from issuing capital stock, $115,000 2. received cash for providing delivery service, $58,000 3. Paid advertising expense, $2,000 4. Paid creditors on account, $4,800 5...
Sunday, January 13, 2008 at 5:19pm by MiMi

accounting
A new inventory management system for ABC Company could be developed at a cost of $200,000. The estimated net operating costs and estimated net benefits over six years of operation would be: Year Estimated Net Operation Estimated NetBenefits 0 200,000 0 1 7,0000 $ $52,000 2 9,...
Monday, August 2, 2010 at 11:50am by YENY

Accounting
A truck was purchased for $25,000. It has a six-year life and a $4,000 salvage value. Using straight-line depreciation, what is the asset’s carrying value (book value) after 2 years?
Sunday, May 5, 2013 at 10:02am by Harriett

Financial Accounting
Prepare the general journal entries for the following transactions: Jan 2, 2011 -- Purchased land with a building on it for $750,000. The land is worth $300,000. Paid $150,000 cash down and signed a mortgage payable for the balance. Dec. 31, 2011--Depreciation is computed ...
Thursday, February 16, 2012 at 3:21pm by Diane

accounting
On January 1, 2006, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs. Building, 25-year estimated useful life, $4,000,000 cost, $400,000 salvage value Machinery, 10-year estimated useful life, $500,000 cost, no ...
Tuesday, August 2, 2011 at 4:01pm by Anonymous

Accounting
I am trying to figure out if I am doing this accounting problem correctly? Old van was purchased 5 years ago at 20,000. estimated life was 5years with salvage value of 5,000. van has to have repairs enging and tranny for 4000 and will extend life of van by 5years. new tires ...
Thursday, April 22, 2010 at 9:12pm by smeffy

accounting
from the following transactions state which account will be debited and which will be credited by filling up. S.No. Transactions Accounts involved Application Reason with respect to Rules of Debit and credit Sample Example Mr. X started business with cash of Rs.100,000 Cash ...
Wednesday, October 27, 2010 at 12:04pm by pinki

accounting
Y= a + bx y= 567,000 + (4.00* 38,000) y= 567,000 + 152,000 y= 719,000 estimated manufacturing overhead Predetermined overhead rate= estimated manufacturing overhead/ estimated allocation base POR= 719,000/38,000 POR= $18.92 per direct labor hour
Saturday, September 8, 2012 at 7:05pm by isabel

accounting
Calculate the rate of depreciation for the asset with the help of given data.? Cost of the asset Rs1,20,000 Residual value Rs40,000 Expected life 5 years
Sunday, December 5, 2010 at 1:15pm by pinki

accounting
From the following transactions, state which account will be debited and which account will be credited by filling up the appropriate boxes. S.No. Transactions Accounts involved Application Reason with respect to Rules of Debit and Credit Sample Example Mr. X started business ...
Wednesday, October 27, 2010 at 9:27am by pinki

accounting
From the following transactions, state which account will be debited and which account will be credited by filling up the appropriate boxes. S.No. Transactions Accounts involved Application Reason with respect to Rules of Debit and Credit Sample Example Mr. X started business ...
Sunday, October 31, 2010 at 3:30am by Anonymous

accounting
Cypress purchased a 50,000-hectare tract of timber land at Westerlund on June 7,2010, for $50 million, paying $10 million cash and signing a % mortgage payable for the balance. Principal payments of $8 million and the annual interest on the mortgage are due each December 31. ...
Sunday, January 30, 2011 at 6:50pm by Thara

Financial
Cochrane, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $1,860,000. The fixed asset falls into the three-year MACRS class (MACRS Table). The project is estimated to generate $1,950,000 in annual sales, with costs of...
Monday, March 24, 2014 at 10:15pm by Alec

accounting
i want to know if the transactions are bought machinery for rs50,000, payment made to xyz store by rs10,000 by cheque, purchased office furniture on credit for rs15,000, rs1,000 receieved as a rent for the portion of office building rented out and paid salaries of rs40,000 by ...
Thursday, October 28, 2010 at 7:13am by maria

accounting
A company was recently formed with $ 50,000 cash contributed to the company by stock-holders. The company then borrowed $ 20,000 from a bank and bought $ 10,000 of supplies on account. The company also purchased $ 50,000 of equipment by paying $ 20,000 in cash and issuing a ...
Tuesday, May 7, 2013 at 12:32pm by dan

Accounting-HELP ME!
A company purchased machinery for $660,000 on May 1,2008. It is estimated that it will have a useful life of ten years,salvage value of $45,000, production of 350,000 units, and working hours of 60,000. During 2009 the company uses the machinery 3,050 hours, and the machinery ...
Tuesday, September 27, 2011 at 8:35pm by Nick

Finance
Summer Tyme, Inc., is considering a new 4-year expansion project that requires an initial fixed asset investment of $1.782 million. The fixed asset will be depreciated straight-line to zero over its 4-year tax life, after which time it will be worthless. The project is ...
Friday, November 26, 2010 at 4:28pm by Muskingum

Business Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining blance method. a. $63,750 b. $63,500 c. $63,250 or d. $63,000
Friday, June 14, 2013 at 10:41am by LaDonna

Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
Tuesday, November 10, 2009 at 9:08am by Jason

Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
Tuesday, November 10, 2009 at 8:16pm by Mindy

Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method
Tuesday, November 10, 2009 at 8:16pm by Anonymous

ashworth
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
Friday, August 3, 2012 at 12:31pm by kate

finance
The Wet Corp. has an investment project that will produce cash flows of $20,000 per year for three years. Assume the only expense is depreciation on the asset purchased and this will be $5,000 per year. The company's tax rate is 34%. What is the cash flow from the project in ...
Wednesday, December 16, 2009 at 6:42pm by Anonymous

math net asset value
Please check my answer thanks :) The net asset value of a mutual fund having total assets of $57,000,000 and liabilites of $8,550,00 There are $15,960,000 worth of outsatnding shares my answer is the net value is $4.80 per share
Wednesday, November 14, 2007 at 1:56pm by Anonymous

math
Your firm has the option of making an investment in new software that wil cost $130,000 today and is estimated to provide the savings shown in the table over5 years. year savings estimate 1 $35,000 2 50,000 3 45,000 4 25,000 5 15,000 should the firm make this investment if it ...
Friday, December 16, 2011 at 4:49pm by Vanessa

Finance
Your firm has the option of making an investment in new software that wil cost $130,000 today and is estimated to provide the savings shown in the table over5 years. year savings estimate 1 $35,000 2 50,000 3 45,000 4 25,000 5 15,000 should the firm make this investment if it ...
Saturday, December 17, 2011 at 5:01am by Vanessa

college finance
37. Morage Corp. is replacing an entire baking line that was purchased for $420,000 and currently has a book value of $60,000. The new, more efficient line, will cost $940,000 installed and can be depreciated as a 7-year MACRS asset. With the increased efficiency, Morage ...
Monday, April 20, 2009 at 9:24pm by Lisa

Accounting
1. A manager is considering the following investment: Initial capital investment $180,000 Estimated useful life 3 years Estimated disposal value in 3 years 0 Estimated annual savings in cash operating costs $80,000 Minimum desired rate of return 10% The net present value of ...
Saturday, December 8, 2012 at 4:33pm by Pi

business math
A truck costing $25,000 with a residual value of $5,000 was purchased by Rim Corporation. The truck’s estimated life is 10 years. At the end of Year 2, what is the book value using declining-balance method? Assume a depreciation rate of twice the straight-line method.
Saturday, September 1, 2012 at 3:29pm by tracie

Accounting 2
Can someone help me with this problem. At least get me started so I can figure out how to do this. Your manager, Mr. Smith, has asked you to prepare a report, for a client, based on the following inquiry (see below). This report will be reviewed by Mr. Smith and used to ...
Thursday, April 22, 2010 at 6:23pm by smeffy

Accounting
On January 1, 2006, Mythical purchased some office equipment, paying $24,000. It is anticipated that the equipment will last 4 years and have a zero salvage value at the end of the four years. 1) Make the adjusting entry for depreciation at the end of year two using the ...
Friday, July 28, 2006 at 1:29am by Laura

accounting
Albright Company purchased as a long-term investment $500,000 of Benton Corporation 10-year 9% bond present entries to record the following selected transactions: (a.) Purchased bonds for $475,000.
Tuesday, February 28, 2012 at 5:27pm by rose

Accounting
I need to enter the following into Journal Enteries a) Borrowed $12,000 cash on a short-term note payable dates march 1, 2011 b) Purchased land for future buildings site, paid cash, $9,000. c) Earned $160,000 in Service Revenue for 2011, including 40,000 on credit and 120,000 ...
Thursday, September 24, 2009 at 4:54pm by Leisel

financial accounting
eckman company purchased equipment for $80,000 on january 1,2011 and will use the double declining balance method of depreciation. it is estimated that the equipment will have a 5 year life and a $4,000 salvage value at the end of its useful life. the amount of depreciation ...
Monday, November 19, 2012 at 2:01am by daniel

Finance
. Depreciation = Cost of the asset – salvage value Life of the asset = 1,500,000/ 3 = 500,000 Calculation of cash flows: Revenue – 1,200,000 Less Cost – 600,000 Less Depreciation – 500,000 Profit - 100,000 Less taxes (35%) 35,000 Profit after taxes 65,000 Add depreciation 500,...
Thursday, April 22, 2010 at 8:08am by Gin

math
The tooal amount of interest on a loan of 6,000 for 150 days is 210.50.using the ordinary interest(360 days)method,what is the rate of interest on the loan.Round off answer to the nearest hundredth. I think it is 8.42% Darrell owns a consulting business and has an estimated ...
Sunday, January 9, 2011 at 6:13pm by jon

accounting
Liabilities Assets Equity 50,000 Total Assets 250,000 Liab. 200,000 --------------------------------------- 250,000 250,000 ======================================= If he takes his equity 50,000 then creditors will have only 180,000 - 50,000 i.e. 130,000 which is not sufficient...
Tuesday, March 30, 2010 at 3:53pm by Aziz

accounting
A recent cash budget showed estimated cash receipts of $159,000, estimated cash disbursements of $155,000, and a desired ending cash balance of $6,000, with no borrowing of funds. The beginning cash balance was:
Thursday, September 19, 2013 at 3:21pm by Leah

Accounting
On April 1, 2011, Albert Company purchased $50,000 of Tetter Company’s 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2011, Albert received its first semiannual interest. On February 1, 2011, Albert sold $40,000 of the bonds at 103 plus accrued interest. The ...
Sunday, June 9, 2013 at 2:02pm by Mike

accounting
On January 2, 2006, Grant Corporation leases an asset to Pippin Corporation under the following conditions: 1. Annual lease payments of $10,000 for twenty years. 2. At the end of the lease term the asset is expected to have a value of $2,750. 3. The fair market value of the ...
Thursday, July 1, 2010 at 5:36am by LILIANA

Economics
Moore Company is considering an expansion project. It would require the acquisition of an asset that would be depreciated straight line to zero over the 4 years of the project. It expects to be able to sell the asset for $50,000 at the end of year 4. If the project is ...
Tuesday, December 14, 2010 at 5:21pm by Anonymous

accounting
Cooper Construction Company had a contract starting April 2010, to construct a $9,000,000 building that is expected to be completed in September 2012, at an estimated cost of $8,250,000. At the end of 2010, the costs to date were $3,795,000 and the estimated total costs to ...
Thursday, July 8, 2010 at 3:20pm by Jamie

Construction Estimating
Given a Contract Amount o $14,000,000 and an Estimated Cost of $13,440,000 for a project of 10 months duration, establish a cost estimating sheet to obtain what percentages of estimated cost are Job Overhead & General Overhead?
Tuesday, September 9, 2008 at 8:29pm by Mary

accounting
The following transactions occurred during March 2009 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 30,000 shares of common stock in exchange for $300,000 in cash. 2. Purchased equipment of a cost of $40,000. $10,000 cash was ...
Wednesday, January 12, 2011 at 12:46pm by Bobbi

programming
3. Your company needs to depreciate its assets. The accountant wants to record the purchase price, the useful life, and the estimated salvage value. Your program should be able to depreciate by the straight-line method. For example, a computer system was purchased for $25,000...
Friday, February 15, 2013 at 2:06pm by tina

Financial accounting 2
If a building cost $600,000, has an estimated residual value of $240,000, has an estimated life of 36 years, and is depreciated by the straight-line method: a) What is the annual depreciation? b) what is the book value at the end of the 20th year?
Monday, September 3, 2012 at 9:10am by MAry

mah
A mutual fund had total asses of $ 57,000,000 and of $8,550,000. if 15,960,000 shares are oustanding,what is the net asset value of he fund?
Tuesday, August 28, 2012 at 12:07am by no name

math net asset value
How did you come to the answer $4.80 per share. I did it and come up with 3.035714286. Here's how i did it 57,000,000-8,550,000=$48,450,000/$15,960,000= 3.035714286
Wednesday, November 14, 2007 at 1:56pm by Anonymous

Business Environment and Recording Transactions
Give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease an asset and decrease owner's equity. Decrease an asset and decrease a ...
Wednesday, August 30, 2006 at 8:59pm by candy

Tax consequence
Corporation is a calendar-year taxpayer. All of the stock is owned by Fred. His basis for the stock is $35,000. On 3/1 (non-leap year), Corporation distributes $120,000 to Evan. Determine the tax consequences of the cash distribution to Fred in each of the following ...
Saturday, August 5, 2006 at 8:17am by help

accounting
I need HELP in journalizing the following please: February 1 Paid $3,750 accounts payable balance due to a supplier. March 15 Received $2,500 partial payment on a $5,000 accounts receivable balance. Wrote off the rest of the account as uncollectible. April 1 April 15 Purchased...
Thursday, March 29, 2012 at 10:51am by Jan

RE: adjusting entry
Can someone help me prepare an adjusting entry for the following> Prepaid insurance account had 4,000 balance on December 31, 2007. An analysis of insurance policies shows that 1,200 of unexpired insurance benefits remain at December 31, 2008. Prepaid insurance is an asset...
Tuesday, September 19, 2006 at 9:24am by Amber

accounting
The 3 years depreciation is: (3*80,000): 240,000 The Asset Net Book Value at the end of third year is: (600,000-240,000) : 360,000 Depreciation in Year: 4: (360,000/5) : 72,000 / Year. You can reach me at: aexam (at) h o t m a i l (dot) com..
Sunday, June 3, 2012 at 2:59pm by Lancetutor

accounting
Computer equipment was acquired at the beginning of the year at a cost of $56,000 that has an estimated residual value of $3,000 and an estimated useful life of 5 years. Determine the 2nd year’s depreciation using straight-line depreciation
Monday, March 16, 2009 at 11:26pm by angel

Principles of Accounting
Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $10,000 cash in the business in exchange for common stock. 3 Purchased used car for $4,000 cash for use in business. 9 Purchased supplies on ...
Thursday, January 21, 2010 at 5:30pm by carlos

Managerial Accounting
The following information was drawn from the year-end blance sheet of Desoto Company: Account Title` 2012 2011 Investment securities $35,500 $30,000 Equipment 235,000 220,000 Buildings 845,000 962,000 Land 80,000 69,000 Additional Information regarding transactions occurring ...
Wednesday, June 20, 2012 at 1:11pm by Jean

Accounting
I need some help with this question… It is confusing me… I have parts of it done but would like someone to help explain it to me. A truck was purchased on January 2 at a cost of $60,000. It’s expected to be used for five years and to have a residual value of $5,000 after 120,...
Tuesday, July 24, 2012 at 4:55am by sady

accounting
A fleet of refrigerated delivery trucks is acquired on January 5, 2011, at a cost of $1,200,000 with an estimated useful life of eight years and an estimated salvage value of $100,000. Compute the depreciation expense for the first three years using the double-declining-...
Tuesday, August 2, 2011 at 4:01pm by Jess

ACCOUNTING- 2
HELP HERE IS WHOLE PROBLEM.IT NEEDS TO BE JOURNALIZED PROPERLY. mAY 15-fILED THE FEDERAL INCOME TAX RETURN FOR 2009. THE TOTAL TAX FOR THE YEAR WAS 124,000. DURING 2009, QUARTERLY DEPOSITS OF ESTIMATED TAX TOTALING 122,700 ;HAD BEN MADE. THE ADDITIONAL TAX OF 1,300 WAS PAID ...
Tuesday, June 28, 2011 at 6:05pm by DOROTHY

accounting
MS SUE HELP HERE IS WHOLE PROBLEM.IT NEEDS TO BE JOURNALIZED PROPERLY. mAY 15-fILED THE FEDERAL INCOME TAX RETURN FOR 2009. THE TOTAL TAX FOR THE YEAR WAS 124,000. DURING 2009, QUARTERLY DEPOSITS OF ESTIMATED TAX TOTALING 122,700 ;HAD BEN MADE. THE ADDITIONAL TAX OF 1,300 WAS ...
Tuesday, June 28, 2011 at 3:37pm by DOROTHY

that
Georgia purchased a house in 1998 for $220,000. In 2003 she sold the house and made a net profit of $50,000. Find the effective annual rate of return on her investment over the 5-yr period. Please round the answer to the nearest tenth of percent.
Thursday, October 3, 2013 at 5:32am by tj

Accounting
During the period, labor costs incurred on account amounted to $250,000 including $200,000 for production orders and $50,000 for general factory use. In addition, factory overhead applied to production was $23,000. From the following, select the entry to record the factory ...
Saturday, June 22, 2013 at 11:53pm by Anonymous

accounting
I am attempting to study for an exam for tomorrow and cannot figure out the equity method entries up to 2006 for this problem, can someone please help! Parent Corporation owns 80% of Subsidiary Corporation’s outstanding common stock that was purchased at book value and fair ...
Monday, April 5, 2010 at 3:32pm by Bob

Corporate Finance
Your firm is looking at 3 projects, each costing $500,000: A is estimated to save $125,000 per year for 5 years; B is estimated to save $75,000 for 6 years plus generate tax savings of $20,000 per year; C is estimated to save $75,000 per year for 10 years but requires ...
Sunday, April 28, 2013 at 9:59pm by Brad

Math
I believe the reasoning on the 52,000 answer is flawed. This is why. You are not looking for 5% of 50,000 but for 5% of WHAT is 50,000. If you set this up as a ratio-type problem, it would be percent over 100 and is over of (% OF what IS 50,000) therefore the 50,000 would be ...
Thursday, January 3, 2008 at 4:30pm by Msp

Business Finance
I came up with 4.80 per share for the question. A mutual fund has total assets of $57,000,000 and liablities of $8,550,000. If $15,960,000 shares outstanding, what is the net asset value of the fund? Please check my answer.
Friday, January 20, 2012 at 10:41am by Terry

Intermediate Accounting
Python Company leased equipment from Hope Leasing on January 1, 2006. Hope purchased the equipment at a cost of $232,666. Other information: Lease term 3 years Annual payments $90,000 on January 1 each year Life of asset 3 years Fair value of asset $232,666 Implicit interest ...
Saturday, November 29, 2008 at 2:25pm by Frank

finance (current asset)
An item which may be converted to cash within one year or one operating cycle of the firm is classidied as a.... A. current liability B. long-term asset C. current asset D. long-term liability I like C current asset-the quest is the definition of a current asset Is this correct?
Friday, July 25, 2008 at 2:36pm by Jason

Principles of Accoun ting
I have to figure out what basic type of account debited and credited, the specific account, whether the account is increased or decreased, and the normal balance of the specific account. This is the transaction. Purchased used car for $4,000 cash for use in business. For the ...
Monday, July 26, 2010 at 2:01pm by Jamie

Financial Management
Sales = Assets x Total Asset turnover Sales = $5,000 x 1.2 = $6,000,000 Net Income = Assets x return on assets Net income =$5,000,000 x 8% = $400,000 Net Income/Sales = $4,00,000/$6,000,000 = 6.67%
Saturday, January 25, 2014 at 1:51pm by Hussein

finite math
Georgia purchased a house in 1998 for $220,000. In 2003 she sold the house and made a net profit of $50,000. Find the effective annual rate of return on her investment over the 5-yr period. Please round the answer to the nearest tenth of percent.
Tuesday, September 3, 2013 at 9:51pm by Anonymous

Accounting
For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability: Increase one asset and decrease another asset. Decrease an asset and decrease owner's equity. ...
Sunday, October 1, 2006 at 1:57pm by Angel

math
A certain sweepstakes ticket has four categories of prizes with the following probabilities of being won: Prize Probability $100,000 1/500,000 $50,000 1/250,000 $20,000 1/200,000 $10,000 1/100,000 What is the expected value of buying these sweepstakes tickets? Select one: a...
Monday, February 11, 2013 at 11:18pm by Tina

accounting
for each of the following items, give an example of a business transaction that has described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease an asset and decrease owner's equity. Decrease ...
Sunday, July 27, 2008 at 10:47am by jaime

accounting
For each of the following items give an example of a business transaction that has the described effect on the accounting equation: increase an asset and increase a liability increase one asset and decrease another asset decrease an asset and decrease owners equity decrease an...
Sunday, November 9, 2008 at 12:17pm by Tracy

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