Problem 7.02B – Sicily Pizza
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given details regarding the sale and purchase of new pizza ovens… prepare a schedule showing the amount to record in equipment accounts.
Given details regarding the sale and purchase of new pizza ovens… prepare a schedule showing the amount to record in equipment accounts.
Given book value and fair value of accounts… determine the amount of goodwill along with recording the acquisition.
Given book value and fair value of different assets and liabilities… calculate the amount of goodwill along with recording the acquisition of the stock.
Given a list of scenarios… find whether you would capitalize or expense each of them.
Given information about a machine that was bought… prepare depreciation schedules using straight-line, double-declining, and activity-based depreciation methods.
Given details regarding the purchase and use of a new machine… prepare three depreciation schedules using straight-line method, double-declining method, and activity-based depreciation.
Given information regarding the intangible assets of the company… record the amortization along with preparing the intangible asset section of the balance sheet.
Given information regarding their intangible assets… record the amortization expense along with preparing the intangible assets section of the balance sheet.
Given the cost, accumulated depreciation, and book value of different assets… record the depreciation of the buildings, equipment, and patent and calculate the book value.
Given the amount ovens were sold for, the original cost, years of service life, and residual value… calculate accumulated depreciation, book value, gain or loss on the sale, and to record the sale.