On July 1, 2016, Farm Fresh Industries purchased a specialized delivery truck for $175,600. At the time, Farm Fresh estimated the truck to have a useful life of eight years and a residual value of $22,000. On March 1, 2021, the truck was sold for $72,000. Farm Fresh uses the straight-line depreciation method for all of its plant and equipment. Partial-year depreciation is calculated based on the number of months the asset is in service. Required: 1. Prepare the journal entry to update depreciation in 2021. 2. Prepare the journal entry to record the sale of the truck. 3. Assuming that the truck was instead sold for $97,000, prepare the journal entry to record the sale.

Norton manufacturing expects to produce 2,900 units in january and 3,600 units in february. norton budgets $20 per unit for direct materials. indirect materials are insignificant and not considered for budgeting purposes. the balance in the raw materials inventory account (all direct materials) on january 1 is $38,650. norton desires the ending balance in raw materials inventory to be 10% of the next month's direct materials needed for production. desired ending balance for february is $51,100. what is the cost of budgeted purchases of direct materials needed for january? $58,000 $65,200 $26,550 $25,150

Which actions can you improve your credit score? (multiple can be selected)having a good credit score should be your prime objective as credit companies analyze your creditworthiness before giving you a loan. there are certain guidelines you can follow to ensure you have a good credit score. always pay your mortgage interest on time. if you are a student, make student loan inquiries before taking any loan. if you have multiple credit cards, manage them judiciously. maintain a healthy balance in your bank account.1. always pay your mortgage interest on time.2. if you are a student, make student loan inquiries before taking any loan.3. if you have multiple credit cards, manage them judiciously.4. maintain a healthy balance in your bank account.

Fractional reserve banking which of the following statements about fractional reserve banking are correct? check all that apply. fractional reserve banking allows banks to create money through the lending process. fractional reserve banking does not allow banks to hold excess reserves. fractional reserve banking allows banks to create additional wealth by lending some reserves. fractional reserve banking relies on everyone not withdrawing their money at the same time.