Business, 09.04.2021 03:00 yejinschoi3007

New tire retreading equipment, acquired at a cost of $110,000 on September 1 at the beginning of a fiscal year, has an estimated useful life of four years and an estimated residual value of $7,500. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected. In the first week of the fourth year, the equipment was sold for $18,000.
1. Journalize the entry to record the sale.
2. Journalize the entry to record the sale, assuming that the equipment sold for $10,500 instead of $18,000.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 23:00

Employees of dti, inc. worked 1,600 direct labor hours in january and 1,000 direct labor hours in february. dti expects to use 18,000 direct labor hours during the year, and expects to incur $22,500 of worker’s compensation insurance cost for the year. the cash payment for this cost will be paid in april. how much insurance premium should be allocated to products made in january and february?

Answers: 1

Answer

Business, 22.06.2019 13:30

After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of schenkel enterprises. unfortunately, you will be the only person voting for you. the company has 375,000 shares outstanding, and the stock currently sells for $40, if there are four seats in the current election, how much will it cost you to buy a seat?

Answers: 2

Answer

Business, 22.06.2019 17:30

You should do all of the following before a job interview except

Answers: 2

Answer

Business, 22.06.2019 17:40

Adamson company manufactures four lines of garden tools. as a result of an activity analysis, the accounting department has identified eight activity cost pools. each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. activities (a) machining parts. (b) product design. (c) plant maintenance. (d) machine setup. (e) assembling parts. (f) purchasing raw materials. (g) property taxes. (h) painting.

Answers: 2

Answer

You know the right answer?

New tire retreading equipment, acquired at a cost of $110,000 on September 1 at the beginning of a f...

Questions