Multiple choice question 164 on july 1 2014 fleming

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Multiple Choice Question 164
On July 1, 2014, Fleming Company sells machinery for $120,000. The machinery originally cost $300,000, had an estimated 5-year life and an expected salvage value of $50,000. The Accumulated Depreciation account had a balance of $175,000 on January 1, 2014, using the straight-line method. The gain or loss on disposal is
Multiple Choice Question 180 On July 1, 2014, Linden Company purchased the copyright to Norman Computer Tutorials for $140,000. It is estimated that the copyright will have a useful life of 5 years. The amount of Amortization Expense recognized for the year 2014 would be
Multiple Choice Question 120 The following totals for the month of April were taken from the payroll records of Metz Company. Salaries $30,000 FICA taxes withheld 2,295 Income taxes withheld 6,600 Medical insurance deductions 1,200 Federal unemployment taxes 240 State unemployment taxes 1,500 The entry to record accrual of employer’s payroll taxes would include a debit to Payroll Tax Expense for $4,035.
Multiple Choice Question 242 Thayer Company purchased a building on January 2 by signing a long- term $2,520,000 mortgage with monthly payments of $23,100. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage after the first payment will be
Multiple Choice Question 96 The following data is available for BOX Corporation at December 31, 2014: Common stock, par $10 (authorized 30,000 shares) $250,000 Treasury stock (at cost $15 per share) $1,200 Based on the data, how many shares of common stock are outstanding?
Multiple Choice Question 144 Indicate the respective effects of the declaration of a cash dividend on the following balance sheet sections: Total AssetsTotal Liabilities Total Stockholders' Equity

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