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.
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.
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.
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: https://en.wikipedia.org/wiki/Financial_accounting
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