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Question
Submitted by Canvas on Wed, 2012-07-18 20:47
due on Sun, 2012-07-22 20:44
answered 3 time(s)
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Accounting questions

I need questions I attached answered. There aren't very many of them to work though. I just don't have enough time and want to make sure these answers are accurate. Thank you/

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Answer
Submitted by Asma on Thu, 2012-07-19 15:49
teacher rated 374 times
4.68182
purchased one time
price: $20.00

Answer rating (rated one time)

5

Answer with explanation

body preview (13 words)

xxxxxx xxxx attached file xxx xxx xx xxxx if xxxx xxxx xxxxx xxxxxx

xx

xx

file1.docx preview (275 words)

When xxxxxxxxxxx is sold for xxxx xxxx 5% sales xxxx the Sales xxxxxxx should xx xxxxxxxx xxx $525. (True or false)

Sales account xx xxxxxxxx only when xx xxxxxxx xx xxxxxxxxxx xx xxxxx case, Sales xx xxx xxxxx xx xx xxxxx be credited xx xxx not xxxx

The xxxxxxxx on a xxx 60-day note for $5,000 is xxxxx

True or xxxxxx

xxxxx x xxxx x xxxxxx

x xxxxxx

On December 31, xxxxx It xxxxxxx xxxxx Company has xxxxxxx to xxxx xxx xx xxx batting cages. The xxxxxxx xxxx xx xxx xxxxxxxxx xxx xxxxxxxx with xx xxxxxxxxxxx depreciation of xxxxxxxxx Depreciation xxx xxxx taken up xx the end xx xxx xxxxx xxx company xxxxx a xxxxxxx xxxx is willing to buy the xxxxxxxxx xxx xxxxxxxx What xx the xxxxxx xx xxx gain xx xxxx on xxxx xxxxxxxxxxxx

xxx

a.

Cannot be determined

xx

xx gain or xxxx

xx

xxxx xx xxxxxxx

d.

xxxx of $70,000

xxxxxx – xxxxxx = 30,000 It xx xxx xxxx value of xxx equipment.

xxxx or xxxx is xxxxxxxxxx as follows;

Sales xxxxx - Book Value

70,000 – 30,000 x xxxxxx

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Answer
Submitted by Kumail Raza on Thu, 2012-07-19 00:30
teacher rated 24 times
4.375
price: $10.00

Answer file is attached. Feel free to contact for any further assistance.

body preview (0 words)

file1.docx preview (202 words)

xxxx xxxxxxxxxxx xx sold for $500 xxxx xx xxxxx tax, the Sales account should xx credited xxx $525. (True xx false)

xxxxx

xxx interest xx a 6%, 60-day note xxx xxxxxx xx xxxxx xxxx or xxxxxx

xxxxxxx

xx xxxxxxxx xxx Reach It xxxxxxx xxxxx Company has xxxxxxx to sell one xx xxx batting xxxxxx xxx initial xxxx of the xxxxxxxxx was xxxxxxxx xxxx xx accumulated depreciation xx $195,000. xxxxxxxxxxxx has xxxx taken xx to the xxx xx xxx year. The company xxxxx x company that xx willing xx xxx xxx xxxxxxxxx xxx xxxxxxxx What xx the amount of the gain xx xxxx xx this xxxxxxxxxxxx

xxxx

a.

xxxxxx be determined

xx

No xxxx xx xxxx

c.

Gain of $40,000

xx

xxxx xx $70,000

On xxxxxxxx xxx xxxxx xx xxxxxxx Cages Company has xxxxxxx to sell one of xxx xxxxxxx cages. The xxxxxxx xxxx xx xxx equipment xxx $225,000 xxxx an accumulated xxxxxxxxxxxx of xxxxxxxxx xxxxxxxxxxxx xxx xxxx taken xx to xxx xxx of the year. xxx xxxxxxx xxxxx a company xxxx is xxxxxxx xx buy xxx xxxxxxxxx xxx $10,000.

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Answer
Submitted by shahimermaid on Thu, 2012-07-19 00:39
teacher rated 386 times
4.321245
price: $5.00

the correct answers

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file1.docx preview (215 words)

xxxx xxxxxxxxxxx is xxxx for $500 plus 5% xxxxx xxxx xxx xxxxx account xxxxxx be xxxxxxxx for xxxxx (True xx false)

xxx xxxxxxxx on x 6%, 60-day xxxx for $5,000 xx xxxxx True or xxxxxx

On December 31, xxxxx xx xxxxxxx xxxxx xxxxxxx has xxxxxxx xx xxxx xxx of its xxxxxxx cages. xxx initial xxxx xx the equipment was $225,000 xxxx an accumulated xxxxxxxxxxxx of xxxxxxxxx Depreciation xxx xxxx xxxxx up xx the xxx of xxx xxxxx xxx company xxxxx a company that is willing to xxx xxx xxxxxxxxx for xxxxxxxx What is the xxxxxx xx the xxxx or loss on this transaction?

xxxx

a.

Cannot xx determined

xx

xx gain or xxxx

c.

Gain of $40,000

d.

Gain of $70,000

xxxxxxx the equipment has xx xxxxxxxxxxxxxx xxxxxxx cost xx xxxxxxx (225000-195,000), xxx xx was sold for $70,000

xx December xxx xxxxx xx Batting xxxxx Company has decided xx sell one xx its xxxxxxx cages. The initial xxxx of the xxxxxxxxx xxx $225,000 xxxx xx accumulated xxxxxxxxxxxx xx xxxxxxxxx Depreciation has xxxx xxxxx xx

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