The identical machines at Simpson Corp. have had the following salvage values when they were sold....
The identical machines at Simpson Corp. have had the following salvage values when they were sold. Estimate the probabilities of salvage for future equipment and the expected value of salvage. ROI is 12%.
Machines: 2, 3, 2, 2, 1
Salvage Value: $12,000, $15,000, $16,000, $17,000, $20,000
What other information about the equipment would be helpful to know?
Homework Answers
In order to choose the better equipment for the organization, we additionally need the Purchase cost of the equipment and life of the asset.
From the above information we can calculate annual cost to enterprise, least cost machine would be preferred.
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The identical machines at Simpson Corp. have had the following
salvage values when they were sold....
Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method.
Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for...
Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method....
ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost...
ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the...
E 12-3: Cushenberry Corporation had the following transactions. For each transaction, (a) prepare the journal entry,...
E 12-3: Cushenberry Corporation had the following transactions. For each transaction, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation...
Please put in a balance sheet Antioch Company makes eBook readers. The company had the following...
Please put in a balance sheet
Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash, $664,000; Raw Materials Inventory, $59,000; Work in Process Inventory, $28,000; Finished Goods Inventory, $47,000; Common Stock, $584,000; and Retained Earnings, $214,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions are cash transactions. 1. Paid $24,000 of research and development costs. 2. Paid $60,000 for raw materials...
1. Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of e...
1. Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element: PP&E Element Amount Land $10,000 Building 25,000 Equipment 45,000 Bowie paid $70,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.) 2. Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $22,000 for the truck. The truck is expected to have a $2,500 residual value and...
The following account balances were included in Bromley Company’s balance sheet on December 31, 2018: Land...
The following account balances were included in Bromley Company’s balance sheet on December 31, 2018: Land $100,000 Land improvements 20,000 Buildings 300,000 Machinery and Equipment 500,000 During 2019, the following transactions occurred: Jan. 1 Land was acquired for $70,000 for a future building site. Commissions of $4,000 were paid to a real estate agent. Feb. 1 A factory and land were acquired from Kent Development Company by issuing 20,000 shares of $3 par common stock. At that time, the stock...
Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018:...
Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash, $672,000; Raw Materials Inventory, $68,000; Work in Process Inventory, $31,000; Finished Goods Inventory, $62,000; Common Stock, $600,000; and Retained Earnings, $233,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions are cash transactions. Paid $27,000 of research and development costs. Paid $57,000 for raw materials that will be used to make eBook readers....
Required information Problem 10-27 Schedule of cost of goods manufactured and sold LO 10-3 [The following...
Required information Problem 10-27 Schedule of cost of goods manufactured and sold LO 10-3 [The following information applies to the questions displayed below.] Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash, $675,000; Raw Materials Inventory, $62,000; Work in Process Inventory, $31,000; Finished Goods Inventory, $60,000; Common Stock, $591,000; and Retained Earnings, $237,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions...
Problem 10-27 Schedule of cost of goods manufactured and sold LO 10-3 The following information applies...
Problem 10-27 Schedule of cost of goods manufactured and sold LO 10-3 The following information applies to the questions displayed below. Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash, $675,000; Raw Materials Inventory, $63,000: Work in Process Inventory, $32,000; Finished Goods Inventory, $49,000; Common Stock, $598,000; and Retained Earnings, $221,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions are cash...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method.
Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method....
ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the...
Please put in a balance sheet
Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash, $664,000; Raw Materials Inventory, $59,000; Work in Process Inventory, $28,000; Finished Goods Inventory, $47,000; Common Stock, $584,000; and Retained Earnings, $214,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions are cash transactions. 1. Paid $24,000 of research and development costs. 2. Paid $60,000 for raw materials...
Problem 10-27 Schedule of cost of goods manufactured and sold LO 10-3 The following information applies to the questions displayed below. Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash, $675,000; Raw Materials Inventory, $63,000: Work in Process Inventory, $32,000; Finished Goods Inventory, $49,000; Common Stock, $598,000; and Retained Earnings, $221,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions are cash...
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