Entries by Munene david

Adelphi Company purchased a machine on January 1, 2017

May 4, 2020 in /by

Adelphi Company purchased a machine on January 1, 2017, for $50,000.  The machine was estimated to have a service life of ten years with an estimated residual value of $5,000.  Adelphi sold the machine on January 1, 2021 for $22,000. Adelphi uses the double declining method for depreciation. Using this information, how much is the gain or (loss) for […]

 

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In midterm elections A.All of these choices are true.

May 4, 2020 in /by

In midterm elections A.All of these choices are true. B.voters choose one-third of the members of the U.S. Senate. C.voters choose all members of the U.S. House of Representatives, and national elections are held in which candidates for president are not on the ballot. D.national elections are held in which candidates for president are not […]

 

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In the presidential elections A.one can win the majority of the popular vote

May 4, 2020 in /by

In the presidential elections A.one can win the majority of the popular vote and not become president. B.electors meet in the state’s capital in December to cast their votes for the president. C.a joint session of Congress meets in early January (after the presidential election) and the electoral votes are counted. D.All of these choices […]

 

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Towson Corp., was organized on January 2, 2018.

May 4, 2020 in /by

<br/> -Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 90,000 shares of $4 par value common stock at a price of $45 cash per share.  On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that […]

 

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