Entries by mary WAMBUGU

On January 2, 2016, Alpha Company purchased a patent for $72,000. The patent has a remaining legal life of nine years and an expected service life of eight years.

September 6, 2019 in /by

On January 2, 2016, Alpha Company purchased a patent for $72,000. The patent has a remaining legal life of nine years and an expected service life of eight years. Use this information to submit the General Journal entry (without explanation) for December 31, 2016 end of the year adjusting entry. If no entry is required […]

 

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On January 2, 2016, Alpha Company acquired a new machine by signing a 5 year note for $72,000. The estimated service life is eight years and the total units of output to be 200,000.

September 6, 2019 in /by

On January 2, 2016, Alpha Company acquired a new machine by signing a 5 year note for $72,000. The estimated service life is eight years and the total units of output to be 200,000. The estimated residual value is $8,000. Using the straight-line method, how much is: (Enter only whole dollar values.)   Looking for a […]

 

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On July 1, 2016, Alpha Company negotiated the purchase of a new piece of equipment with the seller Zulu Company. T

September 6, 2019 in /by

On July 1, 2016, Alpha Company negotiated the purchase of a new piece of equipment with the seller Zulu Company. The equipment was list for $200,000. Smooth talking Alpha was able to negotiate the purchase price and acquired the equipment at $180,000. Alpha Company completed the purchase transaction on July 1. Additionally, Alpha was entitled to […]

 

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On June 30, 2016, after adjusting entries were posted, Alpha Company sold a machine. The historical cost was $11,000 and the book value was $2,500.

September 6, 2019 in /by

On June 30, 2016, after adjusting entries were posted, Alpha Company sold a machine. The historical cost was $11,000 and the book value was $2,500. It was sold for $1,100 cash. Using this information, how much should be recorded on June 30 for the following accounts:   Looking for a Similar Assignment? Order now and […]

 

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