a. Andrews Company purchases $45,000 of equipment on January 1, 2011. The equipment is expected to last
Question:
b. Fortel Company purchases $40,000 of land on January 1, 2011. The land is expected to last indefinitely. What depreciation adjustment, if any, should be made with respect to the Land account as of December 31, 2011?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (15 reviews)
a Depreciation Expense x Equipment 8400 Accumulate...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
A Starbucks franchisee purchased a coffee drink machine on January 1, 2011, for $44,000. The expected useful life is ten years or 100,000 drinks. In 2010, 3,000 drinks were sold, and in 2011, 14,000...
-
A TV system is expected to last for 50,000 hours before failure. Assume an exponential distribution for the time until failure. a. Is the distribution skewed or symmetric? b. What is the standard...
-
The schedule of accounts receivable, schedule of accounts payable and trial balance for Let it Snow are shown below. Schedule of Accounts Receivable as at 31 May 20XX Customer Invoice No. Terms Date...
-
Alpha Corp. expects to operate at 80% of capacity next year. Its forecast operating budget is: a. What is Alpha's break-even revenue? b. What would be Alpha's net income if it operates at full...
-
Prepare journal entries for each transaction: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. On September 29, an account...
-
Verify that the square of the \(Z\) statistic on page 314 equals the \(\chi^{2}\) statistic on page 312 for \(k=2\). Statistic for test concerning difference between two proportions X1 X2 n1 - n2 Z =...
-
Kenoly Corporation owns a patent that has a carrying amount of $300,000. Kenoly expects future net cash flows from this patent to total $210,000 over its remaining life of 10 years. The recoverable...
-
An iron boiler of mass 188 kg contains 690 kg of water at 19C. A heater supplies energy at the rate of 58,000 kJh.How long does it take for the water (a) to reach the boiling point, and (b) to all...
-
The MFG Corporation is planning to produce and market three different products. Let x1, x2, and x3 denote the number of units of the three respective products to be produced. The preliminary...
-
a. On July 1, 2011, Rendex Company paid $3,000 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2011. Prepare the...
-
Lakia Rowell employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the following Monday. (For example, a student who works Monday through...
-
The following comparative statements of financial position and statement of financial performance are for the business of Low Dollar Shop Pty Ltd. Additional information 1. All sales and purchases of...
-
The following network is given: R Igl R R R D R Uq1 Figure 3.33 Multi-source network I R R 192 Calculate the current I. Proceed as follows: 1. Divide the network into two subnetworks along line 1-1....
-
A Building of cost $25,000 was purchased. The prepaid expenses relate to salaries. Bonds with face value $12,000 were retired at 95 and new bonds issued at Face value. No Treasury shares were sold....
-
What is the Modified IRR for this project is they can invest their intermediate flows at 11%? Assume BLTD requires a 12% payback on MIRR, would you accept the project?
-
Find an equation for the plane that is tangent to the given surface at the given point. z = y-x (2,6,2) Find the equation for the tangent plane to the surface z = y-x at the point (2,6,2). Use a...
-
This tab contains details needed for the project. Formulas are highlighted in gray. When completing the different parts, link all cells. No cells should be hard coded. Do not fill in or change...
-
A system consists of 4 components in a series, so the system works properly if all of the components are functional. In other words, the system fails if and only if at least one of its components...
-
The roof of a refrigerated truck compartment is of composite construction, consisting of a layer of foamed urethane insulation (t2 = 50 mm, ki = 0.026 W/m K sandwiched between aluminum alloy panels...
-
What is the role of professional service providers within an ecosystem?
-
Why are overhead costs allocated to products and not traced to products as direct materials and direct labor are?
-
What is a cost object?
-
Qinto Company sells two types of products, Basic and Deluxe. The company provides technical support for users of its products, at an expected cost of $250,000 per year. The company expects to process...
-
You have $8,500 to invest for 5 years. Find how much you'll have at the end of the 5 years if you earn 3.4% interest compounded (a) annually: $ (b) monthly: $ (c) daily: $ (d) continuously: $
-
Create instructions for a UHD student on how to use Zoom to record an oral presentation. This assignment has two purposes: I need to ensure you know how to use Zoom to record your group's oral...
-
Solve for x: 1 3x-3x-2=24 2 3*+1=3x+1/3 3 3x+3x+2=10 4 5x+1 1 =2.5* 5 2x+2x+2x=96 6 12x+12=288 7 2x+2x-2=5 8 22x+4x+1=80 EXERCISE 5 Solve for x: 8.4141-32 = 1 2 3x+1=9x. 27 3 3x+2 = 9.27 4 5-1. = 25*...
Study smarter with the SolutionInn App