On January 1 of the current year, the records of Khouri Corporation showed the following regarding a truck: Equipment (estimated residual value, $9,000) $ 24,000 Accumulated depreciation (straight-line, three years) 9,000 On December 31 of the current year, the delivery truck was a total loss as the result of an accident. Required: 1. Based on the data given, compute the estimated useful life of the truck. 2. Prepare all journal entries with respect to the truck on December 31 of the current year, assuming there was no insurance coverage on the truck. 3. Assuming Khouri had casualty insurance on the truck and received $8,000 from the insurance company for the accident, determine whether there was a gain or loss for the disposal and what the associated amount was.

Employers hiring for entry-level positions in hospitality and tourism expect workers to

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation

Asmall town wants to build some new recreational facilities. the proposed facilities include a swimming pool, recreation center, basketball court and baseball field. the town council wants to provide the facilities which will be used by the most people, but they face budget and land limitations. the town has $400,000 and 14 acres of land. the pool requires locker facilities which would be in the recreation center, so if the swimming pool is built the recreation center must also be built. also, the council has only enough flat land to build the basketball court or the baseball field. the daily usage and cost of the facilities (in $1,000) are shown below. which facilities should they build? facilityusagecost ($1,000)landswimming pool4001002recreation center5002003basketball court3001504baseball field2001005