On January 1, 2014, Big Rock Brewery purchased a van for $45,000. Big Rock expects the van
Question:
On January 1, 2014, Big Rock Brewery purchased a van for $45,000. Big Rock expects the van to have a useful life of five years and a residual value of $5,000. The depreciation method used was straight-line. On December 31, 2017, the van was sold for $15,000 cash. 1. What was the carrying amount of the van on the date of sale? 2. Record the sale of the van on December 31, 2017.
Fantastic news! We've Found the answer you've been seeking!
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.