Answer:
(a)
July 31, 2022
Dr. Depreciation Expense $4,580
Cr. Accumulated Depreciation $4,580
(b)
Dr. Cash $22,430
Dr. Accumulated Depreciation $41,410
Dr. Loss on Sale of asset $14,030
Cr. Cost $77,870
Explanation:
Before sale of the asset, depreciation for the year should be recorded. To incorporate its effect on the sale.The depreciation for the 7 months of 2022 will be added to the accumulated depreciation account.
July 31, 2022
Accumulated Depreciation = $36,830 + $4,580 = $41,410
Net Loss is calculated by deducting the accumulated depreciation and cash received on the sale from the original cost of the asset.
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Answer:
Accrued revenues for the first year: $ 454.5
Explanation:
1,818 is the value of 36 months of subscriptions.
Therefore, the value of a month is $ 1,818 / 36 months = $ 50.5
Garcia will recognize revenue as time past, each month will accrue a month of earnings.
For the first year will accrued from April 1st to December31th
That is 9 months:
50.5 per month x 9 months = 454.5
Answer:
Explanation:
Old prices are $23, 43, 56
New prices $23, 41, 58
Shares 350,000; 405,000; 553,000
Multiply Old prices by Shares:
23*350,000 = 8,050,000
43*405,000= 17,415,000
46*553,000= 30,968,000
In total = 56,433,000
Multiply New prices by Shares:
23*350,000 = 8,050,000
41*405,000 = 16,605,000
58*553,000 = 32,074,000
In total = 56,729,000
New index value = 970*56,729,000/56,433,000 = 975
