Revision of depreciation on january 2, 2012, mosler, inc., purchased equipment for $126,000. the equipment was expected to have a $12,000 salvage value at the end of its estimated six-year useful life. straight-line depreciation has been recorded. before adjusting the accounts for 2016, mosler decided that the useful life of the equipment should be extended by two years and the salvage value decreased to $10,000. a. prepare a journal entry to record depreciation expense on the equipment for 2016. round your answer to the nearest dollar. general journal debit credit dec. 31 answer answer answer answer answer answer to record depreciation expense. b. what is the book value of the equipment at the end of 2016 (after recording the depreciation expense for 2016)? book value at year ended december 31, 2016: $answer

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $