Gunkelson Company sells equipment on September 30, 2015, for $18,010 cash. The equipment originally cost $71,880 and as of January 1, 2015, had accumulated depreciation of $42,260. Depreciation for the first 9 months of 2015 is $5,480. Prepare the journal entries to (a) update depreciation to September 30, 2015, and (b) record the sale of the equipment.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Gunkelson Company sells equipment on September 30, 2015, for $18,010 cash. The equipment originally cost $71,880 and as of January 1, 2015, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Assume that demand for bottled water is relatively price elastic. An increase in supply of bottled water will result in which of the following? 1. A decrease in price, leading to an increase in total revenue 2.
Answers (1)
The Consumer Financial Protection Bureau (CFPB) was created to represent consumers by filing suit in federal court asking for damages on behalf of the injured consumer. A. True. B. False.
Answers (1)
Daniel's Market is considering a project with an initial cost of $176,500. The project will not produce any cash flows for the first three years. Starting in Year 4, the project will produce cash inflows of $127,500 a year for three years.
Answers (1)
A firm has 120,000 shares of stock outstanding, a sustainable rate of growth of 3.8, and $648,200 in free cash flows. What value would you place on a share of this firm's stock if you require a 10% rate of return? e was $45?
Answers (1)
The Kingwood Company reported net income of $40,000 and average total assets of $440,000. Calculate the company's return on assets.
Answers (1)
New Questions in Business
Alyson is an employee at Who'd of Thunk It Games, a company that was just purchased by a competitor. The goals set forth by the new management team are extremely ambitious and are placing seemingly insurmountable goals for the employees.
Answers (1)
Making any misleading representations or incomplete or fraudulent comparison of any insurance policies or insurers for the purpose of inducing, or tending to induce, any person to lapse, forfeit, surrender, terminate, retain, or convert any
Answers (1)
Once risks have been identified, how can they be managed?
Answers (1)
The arnold fertilizer company's stock is selling for $55 in the market and its earnings per share is $5. the company is projected to grow at a rate of 22% over the next year. what is this company's price/earnings to growth (peg ratio?
Answers (1)
Strong company applies overhead based on machine hours. at the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000.
Answers (1)