Complete the Form 4562 using the following information provided.     Himple Retail Fixed Asset Rollforward 12/31/2019 (book basis)     DEPR   COST   2017 2018 2019   ACCUM   NET BOOK ASSET IN SERVICE METHOD LIFE BASIS DEPR DEPR DEPR DEPR VALUE CASH REGISTER 2/15/2017 SL 5 9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 2017 TOTAL ADDITIONS       9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 RETAIL FIXTURES 10/12/2018 SL 7 4,750.00   169.64 678.57 848.21 3,901.79 FURNITURE 10/12/2018 SL 7 3,900.00   139.29 557.14 696.43 3,203.57 2018 TOTAL ADDITIONS       8,650.00 - 308.93 1,235.71 1,544.64 7,105.36 TOTAL       18,550.00 1,815.00 2,288.93 3,215.71 7,319.64 11,230.36 DELIVERY TRUCK 6/1/2019 SL 5 37,500.00     4,375.00 4,375.00 33,125.00 DESK AND CABINETRY 6/1/2019 SL 7 11,900.00     991.67 991.67 10,908.33 COMPUTER 6/1/2019 SL 5 2,800.00     326.67 326.67 2,473.33 2019 TOTAL ADDITIONS       52,200.00 - - 5,693.34 5,693.34 46,506.66 TOTAL

Q: A company sells equipment which originally cost $150,000 for $50,000 on December 31, 2019. The…

A: When asset is sold the gain /loss will be recognized

Q: Sales Depreciation expense $8,151.5 214.2 127.0 Land Buildings and fixtures 939.3 Machinery and…

A: ASSETS TURNOVER RATIO Assets Turnover Ratio is the Ratio Between Sales Revenue & Total Assets.…

Q: Fixed Asset Turnover Fixed Asset Turnover Ratio = Sales Revenue / Total Fixed Assets Year 2020 2019…

A: given, ratio year   2020 2021 2022 fixed asset 21.82 12.13 11.03 total asset turnover…

Q: E11.6B (LO 1,2,4) (Recording and Amortization of Intangibles) Parrish Company, organized in 2025,…

A: Intangible assets are assets that are not physically present in the business but are of the utmost…

Q: Company A purchased Company B for $156 cash. At the time of purchase, Company B had the following…

A: Lets understand the basics. When purchaser paid more than the net asset of the company then goodwill…

Q: Accounting During 2021, B&C owed the following assets. B&C sold the land, office building, and…

A: HY convention of dep menas when an asset is purcased in between of…

Q: At December 31, 2019, Marin Enterprises reported the following as plant assets. Land Buildings Less:…

A: Journals are the important part for preparation of financial statement.At the end of the…

Q: For each of the following intangible assets, indicate the amount of amortization expense that should…

A: The intangible asset is amortized over the useful life or legal life whichever is lower. An…

Q: Determine the Depreciation Expense for the calendar year 2019 on the following non - current assets…

A: Lets understand the basics. In straight line basis, depreciation is calculated in equal installment…

Q: On January 1, 2019, Bridgeport Inc., a construction company, leased an excavator from Leaselt Inc.…

A: Calculation of initial measurement of Right-of-use Asset and liability: Year PV factor @ 6%…

Q: For each of the following intangible assets, indicate the amount of amortization expense that should…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Blossom Real Estate Balance Sheet December 31, 2020 Cash $ 25400 Accounts Payable $ 60700 Prepaid…

A: Let's understand the basics Investments specifically, from an accounting perspective an investment…

Q: Estimating Useful Life and Percent Used Up The property and equipment section of the lululemon…

A: Depreciable assets are assets used to make income or profit. Depreciable assets have a life of more…

Q: 6. Selected data for Katan, Inc. at 12/31/21 is as follows: Total assets Total liabilities Net sales…

A: Note: Question 4 mentions references to Questions 1 & 2, but the details of Question 1 &2…

Q: ! Required information [The following information applies to the questions displayed below.] Tater…

A: calculation of above requirement are as follows

Q: 17. For each of the following intangible assets, indicate the amount of amortization expense that…

A: Annual amortization expense=Cost of the assetUseful life of the asset Accumulated…

Q: The t accounts for equipment and the related accumulated depreciation-equipment for Goldstone Co. at…

A: The cash flow statement shows the cash inflow and cash outflow due to the operating activities,…

Q: Show Me How Intangibles: Balance Sheet Presentation and Income Statement Effects Han Company has…

A: Intangible Assets The Accounting of intangible assets which are taken consider the amortization cost…

Q: On January 1, 2020 (the first day of its fiscal year) Pina Ltd. acquired a patent which gave the…

A: All assets are recognized at recoverable or carrying amount whichever less.  If the recoverable…

Q: (b) Prepare cash flow statement that will show Mubin the movement of cash in his business.

A: In simple words, the cash flow statement shows inflow in and outflow from company during particular…

Q: omputing Asset Related Ratios J.M. Smucker included the following information in its April 2019…

A: Assets refer to the resources used by the company to operate a business efficiently and effectively.…

Q: 9. Create a PivotTable and complete the following fixed asset schedule. Future Electronics will…

A: Depreciation is an accounting method where the value of the asset is reduced over a period of time.…

Q: Description 2020 Assets Office furniture Machinery Used delivery truck 2021 Assets Computers and…

A: Section 179 expense refers to the deduction to the taxpayers on the cost of the ceratin properties…

Q: Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. Answer…

A: PPE Turnover = Net sales (÷) Average Total property, Plant and equipment = 7916.4 ÷ [ (1975.2 +…

Q: Provide the 2020 adjusting journal entry (both accounts and amounts) that Newell Brands made to…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: During 2021, ABC Co. purchased intangible assets and debited them all to "Intangible assets".…

A: (a)

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.