subject
Business, 06.05.2020 03:27 fathimasaynas2975

Bonita Company shows the following entries in its Equipment account for 2021. All amounts are based on historical cost. Equipment 2021 2021 Jan. 1 Balance 148,190 June 30 Cost of equipment sold Aug. 10 Purchases 30,770 (purchased prior to 2021) 25,100 12 Freight on equipment purchased 685 25 Installation costs 2,920 Nov. 10 Repairs 530

Part A: Prepare correcting entry if necessary.

Part B: Assuming that depreciation is to be charged for a full year on the ending balance in the asset account, compute the proper depreciation charge for 2018 under each of the methods listed below. Assume an estimated life of 10 years, with no salvage value. The machinery included in the January 1, 2018, balance was purchased in 2019

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 17:10
Suppose you have just been hired as the chief diversity officer of a large company. previous mentoring programs at this company have not been successful. after inquiring about previous efforts, you discover that most mentor pairs met just a few times, but very few lasting or meaningful mentoring relationships were created. there were also a significant number of employees that did not even attempt to seek out a mentor relationship. which of the following may be a reason why prior mentoring programs at your company failed? check all that apply.a) minorities and women are much less likely to develop mentoring relationships than white malesb) mentoring is not an effective way for organizations to develop female and minority employeesc) due to specific laws governing appropriate workplace behavior, senior-level male executives were reluctant to cultivate mentoring relationships with female employees, fearing negative repercussionsd) fear of creating a future competitor within the company, senior-level female executives were hesitant to mentor other female employees
Answers: 3
question
Business, 22.06.2019 09:40
As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?
Answers: 3
question
Business, 22.06.2019 13:50
Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.suppliesjan. 31 bal. 1,800 1,800 jan. 31 bal.supplies expensejan. 31 bal. 1,920 1,148 jan. 31 bal.prepaid insurancejan. 31 bal. 1,148 1,148 jan. 31 bal.insurance expensejan. 31 bal. 164 164 jan. 31 bal.wages payablejan. 31 bal. 1,400 1,400 jan. 31 bal.wages expensejan. 31 bal. 6,400 6,400 jan. 31 bal.truckjan. 31 bal. 17,376 17,376 jan. 31 bal.accumulated depreciation -truckjan. 31 bal. 5,068 5,068 jan. 31 bal.a. if the amount in supplies expense represents the january 31 adjustment for the supplies used in january, and $1,240 worth of supplies were purchased during january, what was the january 1 beginning balance of supplies? $answerb. the amount in the insurance expense account represents the adjustment made at january 31 for january insurance expense. if the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? amount of the premium $answerthe policy began on answerjune 1july 1august 1september 1october 1november 1 of the previous year.c. if we assume that no beginning balance existed in either in either wage payable or wage expense on january 1, how much cash was paid as wages during january? $answerd. if the truck has a useful life of four years (or 48 months), what is the monthly amount of depreciation expense, and how many months has bloomfield owned the truck? answermonths
Answers: 1
question
Business, 22.06.2019 15:30
University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times
Answers: 2
You know the right answer?
Bonita Company shows the following entries in its Equipment account for 2021. All amounts are based...
Questions
question
Mathematics, 19.11.2019 16:31