J. Sicard, the sole stockholder, received a $100 dividend from Jay’s Limo Services. Which of the following general journal entries will Jay’s Limo Services make to record this transaction?

Stanton, Inc. purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset’s salvage value is $2,000, Stanton, Inc.  should recognize depreciation expense in Year 2 in the amount of:

Gordon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gordon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gordon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gordon makes to record the recovery of the bad debt is:

A company purchased new furniture at a cost of $14,000 on September 30. The furniture is estimated to have a useful life of 8 years and a salvage value of $2,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31?

A piece of equipment with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported in the operating activities section reported under the direct method is:

J. Sicard, the sole stockholder, received a $100 dividend from Jay’s Limo Services. Which of the following general journal entries will Jay’s Limo Services make to record this transaction?

A company must repay the bank a single payment of $20,000 cash in 3 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value factor for 3 years at 8% is 0.7938. The present value of an annuity factor for 3 years at 8% is 2.5771. The present value of the loan (rounded) is:

Depreciation measures the decline in market value of an asset.

Garcon owns equipment that cost $90,500 with accumulated depreciation of $61,000. Garcon  asks $30,000 for the equipment but sells the equipment for $26,000. Which of the following would not be part of the journal entry to record the disposal of the equipment?

Intra-company analysis compares a company’s current performance to its own prior performance.