Scribd Logo
Upload

Welcome to Scribd!

  • During 2016 Zora Corporation Completed The Following Transactions Jan 1 Traded

    Uploaded by

    hassan taimour
    10 views1 page
    Zora Corporation completed several transactions in 2016, including trading in old office equipment valued at $60,000 for new equipment worth $142,000 which they paid $75,000 in cash for. They also sold equipment originally costing $48,000 for $6,100, and recorded depreciation on office equipment using double-declining balance and other assets using straight-line methods.

    Original Description:

    Accounts

    Original Title

    During 2016 Zora Corporation Completed the Following Transactions Jan 1 Traded

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Zora Corporation completed several transactions in 2016, including trading in old office equipment valued at $60,000 for new equipment worth $142,000 which they paid $75,000 in cash for. They also sold equipment originally costing $48,000 for $6,100, and recorded depreciation on office equipment using double-declining balance and other assets using straight-line methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views1 page

    During 2016 Zora Corporation Completed The Following Transactions Jan 1 Traded

    Uploaded by

    hassan taimour
    Zora Corporation completed several transactions in 2016, including trading in old office equipment valued at $60,000 for new equipment worth $142,000 which they paid $75,000 in cash for. They also sold equipment originally costing $48,000 for $6,100, and recorded depreciation on office equipment using double-declining balance and other assets using straight-line methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    During 2016 Zora Corporation completed the following

    transactions Jan 1 Traded #427


    During 2016, Zora Corporation completed the following transactions:Jan. 1 Traded in old office
    equipment with book value of $60,000 (cost of $129,000 and accumulated depreciation of
    $69,000) for new equipment. Zora also paid $75,000 in cash. Fair value of new equipment is
    $142,000. Assume the exchange had commercial substance.Apr. 1 Sold equipment that cost
    $48,000 (accumulated depreciation of $39,000 through December 31 of the preceding year).
    Zora received $6,100 cash from the sale of the equipment. Depreciation is computed on a
    straight-line basis.The equipment has a five-year useful life and a residual value of $0.Dec. 31
    Recorded depreciation as follows:Office equipment is depreciated using the double-declining-
    balance method over four years with a $4,000 residual value.Record the transactions in the
    journal of Zora Corporation.View Solution:
    During 2016 Zora Corporation completed the following transactions Jan 1 Traded

    ANSWER
    http://paperinstant.com/downloads/during-2016-zora-corporation-completed-the-following-
    transactions-jan-1-traded/

    1/1
    Powered by TCPDF (www.tcpdf.org)

    You might also like