Hi can any one back me beside this accounting interrogate?
Question:
Equipment that cost $80,000 and has accumulate depreciation of $63,000 is exchanged for similar equipment with a neutral value of $35,000 and $15,000 dosh is received. The exchange lacks commercial substance.
REQUIRED:
A. Calculate the gain or loss realized.
B. Calculate the gain or loss branded.
C. Prepare the journal entry to echo the exchange.
I understand that the equipment that be traded in have a book value of $17,000 (cost $80,000 smaller number accumulated depreciation $63,000). But I dont know where on earth to go from here.
Answer:
Ok so the first to give somebody a lift the equipment off accounts if just the brass was received when the equipment be disposed.
Debit Cash 15000
Credit Equipment 17000
Debit Loss on Sale 2000
OK now if we consider that you disposed of the eqipment and received $50000 change in return ($35000 contained by eqipment and $15000 cash) and then purchased $35000 within equipment
Debit Cash 50000
Credit Equipment 17000
Credit Gain on Sale 33000
Debit New Eqipment 35000
Credit Cash 35000
The second set of circumstances reflect the economics of the buy and sell... you now own a gain on the disposal of an asset. So the actual journal entry would be a combination of the second set:
Debit Cash 15000
Debit New Equipment 35000
Credit Old Equipment 17000
Credit Gain on Sale 33000
Ahhhhhhhhhhhhh! your interrogate just give me flashbacks to when I was studying accounting!
I get fed up near such semantics (driven by tax codes) that I get my degree and quit the model of doing that professionally.
I'm sorry I can't help you answer the quiz, but you made my day!
Cost = $80,000
Depr = $63,000
Written down worth = Cost - Depr
= $80,000 - $63,000
= $17,000
Total Realisation from sale
= Value of equipment received + Cash received
= $35,000 + $15,000
= $50,000
Gain = Value received - merit foregone
= $50,000 - $17,000
= $33,000
Dr. Equipment a/c $18,000
Dr. Cash a/c $15,000
Cr. Gain on Exch of Eq $33,000
http://www.futureaccountant.com/...
How do I find out what assets someone have?
Question:
I live in Canada and am trying to sue a guy for commissions not salaried. The problem is that I don't know if he has any assets I can put a lien on when I win my crust.
Answer:
You don't have to verbs about what assets he currently have. All that information you can find out in the discovery process.
I suggest you determine how much is owed originally and afterwards calculate interest at a adjectives 'savings account' level (low interest) and court filing fees. Then sue him for that amount. Because the amount you can sue for is not base on what he currently has within assets but what is owed. You might also be able to sue for punitive damages as in good health but generally this can't be done within small claims court nor I doubt you would win that with out a apposite attorney.
In the filing for the suit you can afterwards request a general accounting of current assets as division of the discovery process but again I doubt the judge will admit that for the reason I stated above.
Sue first.. after win... if you win, then move about after assets.
Hope this helps and honourable luck.
Stand behind them?
try napbs.org (it's American) National Association of professional perspective screeners
you may want to go online and do some research on how this works surrounded by canada. in the u.s. for example, when you step to court and actually go and get a judgment against someone, your attorney can subpoena the defendant to donate you a "information subpoena" information about his or her assests. once you take that information then you can try to enforce it. you can profile your judgment next to the county clerk for example and make it a lien against the defendants unadulterated estate property. so, usually you'll have the right to find out around the assets once you get the taste from the court. without it though, it would be rugged because the defendent will not give it to you voluntarily. again, this is how it works surrounded by the state i live in u.s.....do some research on the web and find out your local laws. look up "money decision enforcement" "information subpoena from defendant" or something like that on the network and enter in your jurisdiction
What are the most key Bar/Restaurant Ratios?
Question:
Im in the process of openning a bar/rest and I would close to to look at some ratios and what is everyday for the industry. Im in Los Angeles so it might be a short time different than most.
Answer:
I would concentrate on most of the liquid ratio; current, quick, debt and so forth. Operating margins are also a incredibly key indicator contained by the food service industry as you will probably have skim profits to start near. This will require a keen attention salaried to with regard to labor hours and balancing food inventory.
Hope this help.
What 20 items could i buy beside 1million dollars?
Question:
i need 20 items to append up to 1million dollars
Answer:
1. A bottle of good bourbon.
2. The Batmobile.
3. A pack of cigarettes.
4. An Old Navy hoodie.
5. A Three Dog Night compact disc.
6. Six gallons of gas.
7. A bag of sunflower seed.
8. A bedpan.
9. Three Mickey Mantle rookie cards.
10. A white pumpkin.
11. A Roller Derby authentic jersey.
12. Three Mason jars dated 1937.
13. A John Deere tractor.
14. Ninety can of spray-air dust remover.
15. Me a steak dinner.
16. A wireless keyboard.
17. A roll of athletic video.
18. A bidet toilet.
19. Six thousand peel-and-eat shrimp with cocktail sauce.
20. A spool of tabloid carved from the Keebler Elves' treehouse.
20 Porsche Caymans
how about a yacht?
1. unusual car
2. brand new car upgrades
3. strange house
4. new house decorations
5. unusual front yard
6. alien patio
7. hot tub
8. bright garden
9. new front driveway
10. four coup¨¦ carport
11. new attire
12. topical bling
13. new girlfriend/wife ($$$)
14. brand new girlfriend/wife vehicle
15. new fridge
16. bright grill (not for teeth)
17. lot of food (mainly ramen)
18. pay stale bills
19. new livelihood
=
20. new life span
1. My pencil - $50,000
2. My eraser - $50, 000
3. My bag - $ 50,000
4. My Pillow - $50,000
5. My Mouse - $50,000
6. My Monitor - $50,000
7. My table - $50,000
8. My Chair - $50,000
9. My bed - $50,000
10. My mirror - $50,000
11. My ruler - $50,000
12. My survey - $50,000
13. My clock - $50,000
14. My speaker - $50,000
15. My textbook - $50,000
16. My shirt - $50,000
17. My short - $50,000
18. My blanket - $50,000
19. My pencil box - $50,000
20. My umbrella - $50,000
If interested, contact me at L_tanutama@hotmail.com
http://homes.realtor.com/search/listingd... this house, 18 cans of pepsi from a 50cent tool, and a can of soup from the dollar store.
1.new house (500,000)
2. unsullied car (50,000)
3.Boat (50,000)
4. timeshare (25,000)
5. Stocks (175,000)
theres 5
great vehicle $50,000
grand house $650,000
free standing 3 motor garage $50,000
fine swimming pool $30,000
nifty set of golf clubs $3,000
cool new wardrobe $10,000
giant peak tv $5,000
well stocked RV $100,000
hot Harley $30,000
rockin Rolex $10,000
dazzling diamond ring $10,000
sensational nouns system $5,000
posh Craftmatic bed $5,000
trackin treadmill $2,000
relaxin hot tub $5,000
fully equipped Bark-a-lounger (with cooler) $5,000
grand piano $10,000
wine crypt $19,998
pint Creamy Commotions ice cream (sale this week) $1
demand french fries (McDonalds $1 menu) $1
Is here any apology NOT to adopt a severence box when you return with out of work?
Question:
It's not much, one week's salary for every year at the company (only two years) but is within any reason not to adopt it? Would it interfere with laying-off?
Answer:
No I belive you could still get job loss. There is no reason not to purloin it.
What should a boss dispense their Administrative Assistant for Administrative Prof Day?
Question:
Answer:
Half the day stale with money. The full day if you can be in command of it. We both know it's the AA who keeps the unbroken program together!
playoff tickets for your assistant and their spouse... lol Really though, you can't go wrong beside a nice gift picnic basket.
Are at hand companies that purchase shredded treatise from office?
Question:
We shred our own paper and we use some as packing materials, but we enjoy an excess amount.
Answer:
Yes, but it is all in the order of volume. You will need a few tons to cover the cost of pickup. You might also consider a shredding service that will put aside you the cost of shredding in-house.
yes there are. however unless you own 500 -1000 lbs at time they will not pick up or pay bread. in our nouns 500 lbs drop at certain locations will return 15.00$ .
is it worth it? to your company? probably not.
What to do next to gold ingots?
Question:
Let's say i find 20 gold ingots bars buried surrounded by my backyard... how could i sell it? where on earth? and would i have to rates it? would the goverment take it away from me or something approaching that?
Also could i carry them contained by a bag to the usa 2 trade (i live in london) or do i own 2 do it here? do i need 2 bring in legal somehow?
thank you completely much.
Answer:
You live in London? I'd check next to a reputable jeweler in or hard by the financial district in London, they probably own a scale within the back and will money based on counterbalance. You may want to check with alternative dealer - in the US we refer to them as Pawn shops.
i would run to the pawn shop on rancier if i be in your shoes
ATMs contained by HK?
Question:
how much will the charge be for a PNB or BPI bancnet atm transaction? max allowed amount per transaction allowed? are
western union verbs any better?
Answer:
This site has a number you can hail as for full information.
http://www10.americanexpress.com/sif/cda...
I can't compensate over $350 surrounded by 4 days for electric, what can I do?
Question:
This all go back to a previous place I lived. I do not enjoy reciepts or those past bills, but the electric company insists I didn't recompense at one place for some 11 months. We moved, cancelled the electric, and my girlfriend put the electric in her identify. Then, we split up. I moved to where I live presently, and because electric wasn't on here where I live by myself, I have to pay $50 per month for 3 monts, which I did. The first bills were$16, $14, and $13. Then the 4th month they insisted I have to pay almost $400 immediatly. I talk to a supervisor and said I can pay similar to $30 to $50. Then, they threatened me with cancel my electricity if I didn't pay nearly $400 asap. They said I agreed to seize the bill down that I agreed to pay $138 per month, which I NEVER said I could afford, and never agreed to.I said I could single pay $30 to $50 a month. Now, I carry another finasl notice to wages $355 by April 3oth, or I'll be dis-connected. My landlord say the bills is estimated, not real.Help!?
Answer:
I'd be curious to know whether it be you or your girlfriend who paid the electric bill at the end place you both lived. If you gave the money to her afterwards evidently she used the money for something else, and just didn't repay it. Your name be on that bill too and if you had remunerated it with a check or money proclaim then you could track those payments final. Sounds to me like you be overly trusting, and now you owe, simply because they can't step after your girlfriend (for some reason).
Ok, so then surrounded by the new place you put your deposit of $50 and they used that for your first 3 months, so you still owe the $400. I assume your landlord doesn't know the entire store so he is guessing. You know the unadulterated story and it's that you owe the $400 from the last place you lived.
Usually when someone discussions with a supervisor to engineer a payment plan in that is a record somewhere any on a recording or surrounded by a signed contract in which you both agree. Call the supervisor wager on and do two things: Ask for whatever proof they hold that you said you'd pay the $138 till it's rewarded and you want to know "who" signed that contract. If they say they can't provide you any contract later ask to talk next to the manager. Tell the governor you wish to set up a giving plan and that this is your FIRST payment plan request. Tell them how much a month you can settle. The $138 sounds reasonable to me (even the phone company give you only a couple of months to repay). The certainty is that landlords say contained by their contract that you can't rent unless you have electricity within your unit. So you're stuck, you entail to pay that money. So ask the mediator if you could have extra time to produce the first payment. Then win out and get a second living (weekend or evening) and work toward paying off that bill. And, surrounded by the meantime borrow some of that money from family or friends and pay envelope them when you get remunerated.
Get a personal loan from your bank or credit league. Or, put it on a credit card (which stinks due to the interest rate). There might also me some emergency state-aid available for low-income households, especially if you have kids.
buy some candles...
Not sure how comfortable you grain with this or what your current situation is but fashion them issue you a shut off spy in writing which they own to do before turning it past its sell-by date and take that down to your local assistance department and they will help you. Many churches tender program just for these types of situations as capably. They usually have a party in the church bureau all the time who will treat you capably and help you out. Good luck
Buy some candles, and battery.
How much does a gas station owner construct per container of gas sold?
Question:
If the owner is selling a tank of gas for $3.00 how much profit does he or she see of that $3?
Answer:
probably roughly speaking 3-4% of the $3.00. in other words, they probably label about 10 cents.
they bring in their money in the volume sold, and contained by the crappy overpriced food inside.
Melting piont of head? and melt piont of gold ingots?
Question:
cant find info anywhere
Answer:
Not really a business question (unless you're chitchat about their trading prices), but here you stir for all metals:
www.chemicalelements.com
Where can i revise how to write grant at for free?
Question:
business, personal, education clever
Answer:
I used to do this for a living - I was within a thirdworld country and I was getting grant and loans in the millions for anything cause it could serve.
It is a extraordinarily involved process. Not easy. But your first stop should be at G00GLE. Just step: 'Grants for worthy causes'. You will get seriously - including Bill and Melinda Gates charitable foundation. If your cause is virtuous, you will get money.
It is subject to audit. So you own to have a genuine legitimate make happen that is verifiable. They will not a moment ago hand you the money (makes sense, doesn't it?)
I am desperate to swot up hindu, but i can't lay my paw on any softwarte or textbook to give a hand.?
Question:
Need help especially from Indians. i'll appreciate free books and softwares. I am a Nigerian and I love India. it's immediately getting to 2.5 years
Answer:
Check out some of these websites. If you're unsuccessful, contact me via my profile and I'll try to hook you up with a clan friend I have within central India.
http://ww3.pimsleurapproach.com/include/...
http://www.ukindia.com/zhin001.htm...
http://www.languageshome.com/english-hin...
http://home.unilang.org/courses/hindi/le...
http://www.letslearnhindi.com/
You can also G00GLE (or any explore engine) "Learn Hindi" and you'll come up with profoundly of options. You may also want to ring a local library and see if they can order you anything.
What in the order of that software onlingo, the one that teaches you different language through CDs
Help???
Question:
help i inevitability help im surrounded by **** how can i get a 1000euros surrounded by a week
Answer:
win the lottery
isnt that in france ? whats that surrounded by american money?
Take out a loan, make sure you can unambiguously pay it backbone. Work extra hours.
become a rentboy
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