Financial Accounting

Problem 1:
You are the finance manager of a Moroccan company that looks to diversify its investment strategy by investing in short-term assets.
1. On March 1st, you bought 100.000 shares of Maroc Telecom at 160 MAD/share;
2. On March 18th, you received a cash dividend of 9 MAD/ share;
3. On March 20th, the price of Maroc Telecom shares dropped to 145 MAD/share:
4. On March 28th, you decided to sell all your investment at 148 MAD/share.
A. Record the journal entry for each transaction.
B. How transaction 3 is different from transaction 4.
C. What will happen if the share price increased to 172 MAD/share? explain your answer and record the journal entry.

Problem 2:
Shooster Company is disposing of a $25,000 truck with no residual value. This truck has been fully depreciated.
1. Record the journal entry of this operation
Suppose that the truck has accumulated depreciation of $ 21,000.
2. Record the new journal entry.

Problem 3:
The New look company purchased a machine on January 1, 2010. All the relevant information is given below:
Cost of the machine: $300,000
The expected useful life of the machine: 6 years
Salvage value: $50,000
1. Prepare a schedule showing the depreciation expense of each year of the useful life of the machine using a sum of years’ digits method.

Problem 4:
An asset costing $200,000 has an estimated useful life of 5 years and a salvage value of $4,500.
1. Prepare a depreciation schedule using the double-declining balance method.
2. What is the book value of the asset at the end of the first year? For more information on Financial Accounting check on this:

What Is Ethical Judgment?

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Australia Assessments has gained an international reputation of being the leading website in custom assignment writing services. Once you give us the instructions of your paper through the order form, we will complete the rest.


Essay Writing Services

As we work towards providing the best custom assignment services, our company provides assignment services for any type of academic essay. We will help you develop professionally written essays that are rich in content and free from plagiarism.


Admission and Business Papers

Our skilled team of professional writers will ensure that we help you craft a remarkable admission essay for your desired Master's program in your institution of choice. We won't stop there. Once you enter the job market, we will be available to secure you a position at your desired worksite by creating an outstanding portfolio or resume.


Editing and Proofreading

Our editorial team is always available for all editing and proofreading services. They check completed papers by our writers and also provide professional opinions to papers completed by our clients.


Technical papers

We harbor professional academic writers with different qualifications in diverse academic fields. As such, we are capable of handling both simple and technical papers. Ensure that you provide us with correct and complete instructions in the order form.