Business, 16.04.2020 15:34 biasmi70

Oriole Company had the following assets on January 1, 2022.

Item Cost Purchase Date Useful Life (in years) Salvage Valu
Machinery $74,000 Jan. 1, 2012 10 $ 0
Forklift 33,000 Jan. 1, 2019 5 0
Truck 39,400 Jan. 1, 2017 8 3,000

During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $12,300. The truck was discarded on December 31.

Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2021

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 02:30

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.

Answers: 3

Answer

Business, 22.06.2019 18:00

On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?

Answers: 1

Answer

Business, 22.06.2019 21:30

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?

Answers: 1

Answer

Business, 23.06.2019 00:00

1. which of the following is true about how your skill set relates to a future career? (1 point) employers like to hire people with only full-time job experience. employers consider subject-specific skills for new positions. skills learned in high school should not be included. skills from part-time jobs and volunteer work may prove beneficial in future jobs. 2. which of the following is a list of broad categories of skills? (1 point) creativity, art and communications, tools and trade, literacy and language, and interpersonal skills english and literacy, tools and trade, mathematics, and creativity interpersonal skills, intrapersonal skills, writing and literacy, tools and trade, and creativity mathematics and data, words and literacy, tools and tasks, interpersonal relationships, and creativity

Answers: 3

Answer

You know the right answer?

Oriole Company had the following assets on January 1, 2022.

Item Cost Purchase Date Usef...

Questions