Business, 15.04.2020 00:57 anisa9231

Depreciation on equipment for the year is $4,320. a. Record the journal entry if the company prepares adjustments once a year. If an amount box does not require an entry, leave it blank. b. Record the journal entry if the company prepares adjustments on a monthly basis. If an amount box does not require an entry, leave it blank.

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Answer from: bellamore

a. Debit Depreciation expense account (p/l) $4,320

Cr Accumulated depreciation $4,320

Being entries to adjust for depreciation at year end

b. Debit Depreciation expense account (p/l) $360

Cr Accumulated depreciation $360

Being entries to account for monthly depreciation expense.

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,

Depreciation = (Cost - Salvage value)/Estimated useful life

To record depreciation expense,

Debit Depreciation expense account (p/l)

Cr Accumulated depreciation

From the given information,

Monthly depreciation = $4,320/12

= $360

Answer from: Quest

If this system has a way of sending an announcement to all 50 then send an announcement, if not use email." monday a new dress code will be for men and women).all supervisors have the responsibility to call staff that are not here today.

Answer from: Quest

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans.

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.

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Depreciation on equipment for the year is $4,320. a. Record the journal entry if the company prepare...

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