The estimated amount of depreciation on equipment for the current year is $9,650.
journalize the adjusting entry to record the depreciation. refer to the chart of accounts for exact wording of account titles.
chart of accounts
general ledger
assets
11 cash
12 accounts receivable
13 supplies
14 prepaid insurance
15 land
16 equipment
17 accumulated depreciation-equipment
liabilities
21 accounts payable
22 unearned fees
23 salaries payable
24 taxes payable
equity
31 common stock
32 retained earnings
33 dividends

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Costs of production that do not change when output changes.question 17 options: total revenuefixed incometotal costfixed cost

Atax on the sellers of coffee will a. increase the price of coffee paid by buyers, increase the effective price of coffee received by sellers, and increase the equilibrium quantity of coffee. b. increase the price of coffee paid by buyers, increase the e ffective price of coffee received by sellers, and decrease the equilibrium quantity of coffee. c. increase the price of coffee paid by buyers, decrease the effective price of coffee received by sellers, and increase the equilibrium quantity of coffee. d. increa se the price of coffee paid by buyers, decrease the effective price of coffee received by sellers, and decrease the equilibrium quantity of coffee.