Business, 06.12.2019 06:31 mercymain1014

Yoshi company completed the following transactions and events involving its delivery trucks 2016 jan. 1 paid $20,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five dec. 31 recorded annual straight-line depreciation on the truck. 2017 dec. 31 due to new information obtained earlier in the year, the truck's estimated useful life was year life and a $2,000 salvage value. delivery truck costs are recorded in the trucks account. changed from five to four years, and the estimated salvage value was increased to $2,400. re- corded annual straight-line depreciation on the truck. 2018 recorded annual straight-line depreciation on the truck. sold the truck for $5,300 cash. dec. 31 31 required prepare journal entries to record these transactions and events

Answers: 1

Show answers

Answers

Answer from: cathydaves

Depreciation for 2017

Account - Dr - Cr

Depreciation expense $4900

Accumulated Depreciation $4900

Depreciation for 2018

Account - Dr - Cr

Depreciation expense $4900

Accumulated Depreciation $4900

Sale of Truck:

Account - Dr - Cr

Cash $5300

Equipment $22,000

Accumulated Depreciation $9800

(4900*2)

Loss on Sale $6,900

Explanation:

Depreciation = (Cost + Sales tax - Salvage value) / useful life

=(20515+1485-2400)/4

=$4900

Book value = Cost + Sales tax - Annual depreciation computed in (a) * 2 years

=20,515+1,485-4900*2

=$12,200

Gain (loss) = Proceeds - Book value

=5,300 -12,200

=$6,900

Answer from: Quest

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7. customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

Answer from: Quest

Money believe but i may be wrong

Another question on Business

Business, 21.06.2019 22:50

Which of the following statements is true? a job costing system will have a separate work in process account for each of the major processes. a process costing system will have a single work in process account. a process costing system will have a separate raw materials account for each of the major processes. a process costing system will have a separate work in process account for each of the major processes.

Answers: 3

Answer

Business, 22.06.2019 05:50

Cosmetic profits. sally is the executive vice president of big name cosmetics company. through important and material, nonpublic information, she learns that the company is soon going to purchase a smaller chain of stores. it is expected that stock in big name cosmetics will rise dramatically at that point. sally immediately buys a number of shares of her company's stock. she also tells her friend alice about the expected purchase of stores. alice wanted to purchase stock in the company but lacked the funds with which to do so. although she did not have the funds in bank a, alice decided to draw a check on bank a and deposit the check in bank b and then proceed to write a check on bank b to cover the purchase of the stock. she hoped that she would have sufficient funds to deposit before the check was presented for payment. of which of the following offenses, if any, is alice guilty of by buying stock?

Answers: 2

Answer

Business, 22.06.2019 17:10

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)

Answers: 3

Answer

Business, 23.06.2019 12:30

Food goblin supermarkets use both cashiers and baggers to serve customers at check out. during the first 6 hours of each workday (monday-friday), 3 cashiers and 2 baggers serve approximately 23 customers per hour. a cashier and a bagger who require approximately 4 minutes at checkout and 3 minutes at bagging serve each customer. a. how many employees should food goblin supermarket schedule if it requires a 12 percent capacity cushion? food goblin supermarket should schedule nothing cashier(s). (enter your response rounded up to the nearest whole number.)

Answers: 1

Answer

You know the right answer?

Yoshi company completed the following transactions and events involving its delivery trucks 2016 jan...

Questions