Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__. Answer me this accounting question
Q: Provide answer general accounting
A: Step 1: Define Absorption CostingIn cost accounting, absorption costing refers to the proper…
Q: Hii expert please give me correct answer general Accounting
A: Step 1: Define Present Value of InvestmentThe present value of an expected cash flow at maturity…
Q: I don't need ai answer accounting questions
A: Let's calculate step by step. 1. Gross PayThe employee earns $6,500 per month. 2. FICA Taxes (Social…
Q: General accounting
A: Step 1: Define Target ProfitCalculating target profit or desired profit is a cost volume profit…
Q: In the Crane Company, Indirect labor is...
A: Explanation of Flexible BudgetA flexible budget is a budget that adjusts or flexes with changes in…
Q: Hi expert provide correct answer general accounting
A: Step 1: Define Tax LiabilityTax liability is defined as the total amount of tax to be paid by…
Q: Calculate the cost per equivalent unit of materials.
A: Step 1:First calculate the equivalent units of material using weighted average method: Equivalent…
Q: A company gross profit margin increase solution general accounting question
A: Step 1: Definition of Gross ProfitGross Profit: The difference between revenue and the cost of goods…
Q: What is ABC Company's ROA on these general accounting question?
A: To calculate the Return on Assets (ROA), use the formula: ROA = (Net Earnings / Total Assets) × 100…
Q: Abc manufacturing general accounting question
A: The capital turnover ratio is calculated using the formula: Capital Turnover Ratio = Sales / Total…
Q: Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the…
A: Step 1: Key InformationSelling Price Per Kayak = $1,000Variable Production Cost Per Kayak =…
Q: Suppose that James Industries has annual sales of $7.47 million, cost of goods sold of $3.95…
A: Concept of Days Inventory Outstanding (DIO)Days Inventory Outstanding (DIO) measures the average…
Q: ????
A: To calculate the average fixed cost, we need to first determine the total fixed cost.Total Fixed…
Q: During the month of November, Luffee Company had cash receipts of $5,100 and paid out $1,300 for…
A: To calculate the cash balance on November 1, we can use the following formula: Cash Balance on…
Q: I need this question answer financial accounting
A: Step 1: Define Effective Annual RateThe effective annual rate, which accounts for interest…
Q: Mona reported $70,000 in net profit for the year using absorption costing. The company had no units…
A: Explanation of Absorption Costing: Absorption costing is a method that includes all manufacturing…
Q: Financial accounting 24.65.79
A: Explanation of Return on Assets (ROA):Return on Assets (ROA) measures how efficiently a company uses…
Q: can you please post it in general account tutors feed?
A: Step 1: Understand the RequirementFinished goods inventory is consistently maintained at 80% of the…
Q: Norris company's 2013 income statement is ? General accounting
A: The net income is calculated as follows: Net income = Service revenue - Operating expenses…
Q: I need this question answer general accounting question
A: Step 1: Define Target SalesDetermining the target sale in order to generate the desired amount of…
Q: Need help this question
A: Step 1: Define CVPCost-Volume-Profit analysis (CVP) looks at the way costs are affected by volume…
Q: The inventory of 3t Company on December 31, 2014, consists of the following items: Part No. Quantity…
A: Step 1: Key InformationThe inventory consists of the following details for each part:Part…
Q: Jonas Company is preparing the annual financial statements dated December 31 of the current year.…
A: Approach to solving the question: For better clarity of the solution, I have attached the Excel…
Q: On March 1 of the previous year, a parent sold stock with a cost of $8,000 to her child for $6,000,…
A: Step-By-Step Explanation Step 1: Understand the Parent's Sale to the ChildDate: March 1 of the…
Q: Subject is General Account [05] On March 1, 2019, Annapolis Company has a beginning Work in Process…
A: Step 1: Equivalent Units of Production (EUP) for ConversionSince all units were started during the…
Q: I need this question general Accounting
A: Step 1: To compute the consolidated cost of goods sold (COGS) for P Company and its subsidiary S for…
Q: Don't use ai given answer general accounting questions
A: Step 1: Define Average Collection PeriodA company's time to collect its receivables balance is…
Q: Financial Accounting
A: Key Information:Current assets: $97,000Includes inventory and prepaid items: $37,000Liquid assets…
Q: Provide answer general Accounting
A: Step 1: Define Standard CostStandard cost is based on past experiences and budgeted figure. It is…
Q: I want to correct answer general accounting
A: Step 1: Definition of Economic Order Quantity (EOQ)EOQ is the optimal quantity of stock that a…
Q: Provide correct answer general accounting
A: Step 1: Define Contribution Margin and Operating IncomeThe contribution margin is calculated by…
Q: Solve it account
A: Calculate the required allowanceTotal Cost of Inventory: $481,440Total LCNRV of Inventory:…
Q: Solve this accounting problem not use ai
A: The problem requires the determination of the present value if cash flow.Present value (PV) is the…
Q: Please provide correct answer financial Accounting question
A: Step 1: Define Annual Interest RatesThe basic rate of interest received annually by an investor from…
Q: ??
A: Given Data:Preon Production: 18,000 gallonsParon Production: 39,000 gallonsJoint Costs: $8,500Preon…
Q: Lalit Lumber Company has sales of $13 million per year, all on credit terms calling for payment…
A: Explanation of Days Sales Outstanding (DSO):DSO measures the average number of days it takes for a…
Q: Hi expert please give me answer general accounting
A: Step 1:The present value of the bond is the sum of present value of all interest payments and…
Q: Kindly help me with accounting questions
A: The return on total assets (ROA) is calculated using the formula: ROA = (Net Income / Total Assets)…
Q: Suppose that James Industries has annual sales of $7.47 million, cost of goods sold of $3.95…
A: Explanation of Operating Cycle:Operating cycle is the total time period that begins with the…
Q: Question: Shown below are a company's ledger accounts and their end-of-period balances before…
A: To determine the amount posted to Retained Earnings in the closing process, we first need to…
Q: Solve this question financial accounting
A: To calculate the product cost per unit under absorption costing, we need to include all…
Q: I need this question answer general accounting
A: Step 1: Define Simple InterestThe simple interest rate is usually an annual percentage rate quoted…
Q: What amount needs to be invested today
A: Present Value = Future Value/(1+Interest Rate)^No. of Periods Present Value = 50,000/(1+6%)^2…
Q: Sandals Company is preparing the annual financial statements dated December 31. Ending inventory…
A: Problem OverviewSandals Company is preparing its year-end financial statements and needs to apply…
Q: Please provide this question solution general accounting
A: Let's include Social Security and Medicare deductions in the calculation. These are standard…
Q: Provide correct option general accounting
A: Step 1: Define Gross MarginIn business and finance, the gross margin refers to the difference…
Q: Morgan company reported the following solve this general accounting question
A: Step 1: Definition of Net Realizable Value (NRV) of Accounts ReceivableNet realizable value (NRV) of…
Q: Bedrock Company reported a December 31 ending inventory balance of $412,000. The following…
A: Problem OverviewBedrock Company reported an ending inventory balance of $412,000 on December 31.…
Q: Not use ai financial accounting question
A: Step 1: Define Sales RevenueThe money earned from routine company activities is referred to as…
Q: Please provide this question solution general accounting question
A: Step 1: Definition of Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) Ratio measures the…
Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300.
Step by step
Solved in 2 steps
- Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__. Fill in the blankSaint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__.What journal entry will Mason Builders record on these general accounting question?
- If you give me wrong answer this financial accounting question I will give you unhelpful rate* Your answer is incorrect. Bramble Company owns equipment that cost $1,026,000 and has accumulated depreciation of $433,200. The expected future net cash flows from the use of the asset are expected to be $620,000. The fair value of the equipment is $456,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Account Titles and Explanation Accumulated Depreciation - Equipment Loss on Impairment eTextbook and Media List of Accounts Debit 592800 0 Credit 0 592800What is the result of this disposal transaction on these general accounting question?