On June 30, 2017, Regal Furniture discarded fully depreciated equipment with a cost $35,000 and no residual value. Prepare the journal entry for the disposal of the equipment
What will be an ideal response
Accumulated Depreciation—Equipment 35,000
Equipment 35,000
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Which of the following is NOT an example of dependent demand items?
A) shoelaces, shoes B) wheels, car C) carafes, coffeemakers D) ice skates, roller skates
Fact Pattern 50-1ANikita owns land in Ohio. Her ownership rights include the right to sell or give away the property without restriction, and the right to commit waste, if she chooses.Refer to Fact Pattern 50-1A. Nikita's ownership interest is
A. a fee simple absolute. B. a leasehold estate. C. a life estate. D. an easement.
A strategy for increasing sales of an established brand is to use promotions that attract nonusers of the product category or users of a competing brand.
Answer the following statement true (T) or false (F)
Maria made significant charitable contributions of capital gain property in the current year. In fact, the amount of the contributions exceeds 30% of her AGI. The excess charitable contribution that is not deductible this year can be carried over for five years.
Answer the following statement true (T) or false (F)