Garcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:
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Garcia Co. owns equipment that costs $76,800, with
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- 3 Your business makes cash sales of $100 000 worth of goods (plus GST of 10%) and collected up front. What current liability does the sale create? cash a none b unearned revenue of $10000 GST payable of $10000 d sales revenue of $110000Help Save & Ext Su Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has cormmercial substance. Old Equipment Cash Book Value Fair Value Received Equipment A Equipment B $74,500 $81,600 $56,000 $12,300 $60,800 $ 9,600 For Equipment B, Pensacola would record a gain/(loss) of: DO Multiple Choice O $3,300. $14.800) ( Prev 6 of 15 Next>Owner contributed computer costing RO. 9000, inventory worth OR 8000 and in cash OR 32000. What is his Capital? Select one: O a. OR 49000 O b. OR 32000 O c. OR 39000 O d. OR 8000
- Identify the most relevant transaction for this entry: Assets +300 000 -300 000 0 Owners' Equity O A. Bought equipment in cash R300 000. O B. Bought equipment on credit R300 000. O C. Donated equipment worth R300 000 to the local SPCA O D. Paid R300 000 rent for leased equipment. 0 LiabilitiesRequired Question Selling equipment originally purchased for $1,000 for $1,200 would result in: O A credit to Equipment for $1,200 O A debit to the Bank account for $1,200 O A debit to Capital for $200 O All of the above Back Next Page 8 of 25 CleaTakaful company has the following information: Earned contributions SR 500 Net claim incurred SR 100 Cash SR 50 Short-term investment SR 150 Average assets SR 1500 Total expenses SR 200 Net income SR 100 Gross contributions SR 600 Net contributions SR 550 What is expense ratio? а. 40% b. 30% С. 36.3% d. 50%
- Corristan Company purchased equipment and incurred these costs: Cash price $24,000 Sales taxes 1,200 Insurance during transit 200 Annual maintenance costs 400 Total costs $25,800 What amount should be recorded as the cost of the equipment? $25,200 $25,800 $24,000 $25,400 O OABC Co its selected financial statements items are given as following. Gross profit equals to 100.000 TL, EBIT equals to 50.000 TL, Net Income equals to 20.000 TL, total depreciation & amortization expenses equals to 10.000 TL. Property, Plant and Equipment 80.000 TL, Cash and Cash Equivalent 10.000 TL, Intangible Assets 30.000 TL, Account Receivable 30.000 Inventory 20.000 TL, Account Payable 20.000 TL, Calculate the ROIC 4- (Return on Invested Capital) ratio of the company. a) O 33,33% 138 b) O 40,00% c) O 35,71% d) O 42,86%A machine with a cost of $144.000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is sold for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $46,400. $6.400. $20,500 Prev 6 of 10 Next > 6:35 PM 3/28/2022
- Use the following table: Case X Case Y Case Z Cash $ 940 $ 1,470 $ 1,940 Short-term investments 0 0 780 Receivables 0 1,690 1,360 Inventory 3,400 1,560 6,520 Prepaid expenses 2,600 1,020 1,460 Total current assets $ 6,940 $ 5,740 $ 12,060 Current liabilities $ 3,600 $ 1,800 $ 5,750 Required:Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.)Consider a property with the following property level cash flows: NOI Y1 Y2 Y3 Y4 Y5 Y6 Y7 $200,000 $210,000 $220,000 $230,000 $240,000 $250,000 $260,000 Cash Flow $190,000 $199,500 $209,000 $218,500 $228,000 $237,500 $247,000 Assuming an initial purchase price of $5.0M, what is the 5-Year UNLEVERED Equity Multiple assuming gross proceeds from sale of $6,250,000 and 2% in selling costs? Group of answer choices 1.5 1.2 0.3 1.4ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000 BUILDING ? CASH P30,000 EQUIPMENT P70,000 ARLYN VILLANUEVA, CAPITAL ? LAND P70,000 IF THE BALANCE OF THE VILLANUEVA, CAPITAL ACCOUNT WAS P210,000, WHAT WOULD BE THE BALANCE OF THE BUILDING ACCOUNT? P250,000 P40,000 P90,000 210,000