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accounts data bank




Question;A;truck was purchased on January 2 at a cost of $60,000. It's expected to be used;for five years and have a residual value of $5,000 after 120,000 miles of;service. the truck was driven for 23,000 miles the first year and 25,000 miles;the second year. calculate the depreciation expense to the nearest dollar for;the first and second years.;METHOD- straight-line Year 1, Year 2;Double- declining-balance, year 1;year 2;Units- of- production, Year 1 and year;2.Journalize the Following;transaction for Tammy Company:Sept. 1, Sold $3,500 of merchandise;to Jim on account,Oct. 1, Exchanged Jim's account;receivable for a four month, 8% note for $ 3,500,Dec. 31, Recorded accrued interest;on Jim's note,Feb. 1, Jim paid off his note with;interest (round to nearest dollar);="msonormal">


Paper#44451 | Written in 18-Jul-2015

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