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jeka57 [31]
2 years ago
5

A comparable property showed adjusted value of $40,000. The property sold two years ago, and the adjustments indicated a 7% annu

al appreciation rate. Assuming the appreciation was the only adjustment, how much was the total adjustment
Business
1 answer:
likoan [24]2 years ago
4 0

a. plus $5,063 was the total adjustment.

The definition of adjustment is the act of creating an alternate or is the exchange that is turned into made. An instance of an adjustment is the time that it takes for someone to end up comfy living with someone else. The settlement of ways tons is to be paid in cases of loss or declaration, as with the aid of insurance. a way of fixing.

A pay adjustment is a change in a worker's pay fee. you could exchange an employee's hourly salary or profits. Normally, reimbursement adjustment is a boom within the pay charge, which includes when an employee earns a raise.

Aadjustments to income encompass such items as Educator charges, scholar mortgage hobby, Alimony bills, or contributions to a retirement account. Your AGI will by no means be more than your Gross general earnings on you come back and in a few cases may be decreased.

Your question is incomplete. Please find the complete question below.

A comparable property showed an adjusted value of $40,000. The property sold two years ago, and the adjustments indicated a 7% annual appreciation rate. Assuming the

appreciation was the only adjustment, how much was the total adjustment?

a. plus $5,063

b. plus $5,404

c. minus $5,063

d. plus $5,600

Learn more about adjustments here brainly.com/question/26511117

#SPJ4

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A motor vehicle sold on credit to C. Kelly will require which of the following entries:
blondinia [14]

When a motor vehicle is sold to C. Kelly on credit, the relevant entries would be<u> Debit C. Kelly</u><u>, </u><u>Credit </u><u>Motor </u><u>vehicle</u><u>. </u>

When an item is sold on credit to an entity, that entity becomes an Accounts Receivable. As this is an asset, it is debited when it increases which is the case here with C. Kelly purchasing the car on credit.

The motor vehicle account is an asset and assets are credited when they decrease. By selling the vehicle, the motor vehicle account will be credited to show that motor vehicles have decreased.

In conclusion, the accounting entry for the above scenario would be <u>Debit C. Kelly, Credit Motor vehicle. </u>

<em>Find out more at brainly.com/question/20519391. </em>

4 0
2 years ago
Machinery purchased for $69,600 by Tamarisk Co. in 2016 was originally estimated to have a life of 8 years with a salvage value
8_murik_8 [283]

Answer and Explanation:

The journal entries are shown below:

a. No journal entry is required

b. Depreciation expense $4,756  

          To Accumulated depreciation-Machinery $4,756

(Being depreciation expense is recorded)

Here the depreciation expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working

Accumulated depreciation is

= ($69,600 - $4,640 ÷ 8 × 5)

= $40,600

Now Revised depreciation is

= ($69,600 - $40,600 - $5,220) ÷ 5

= $4,756

7 0
2 years ago
The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $11,136. 2. July bank service charge not
Alexus [3.1K]

Answer:

1. Adjusted cash balance per bank $13,760

Adjusted cash balance per books $13,760

2. Jul-31

Dr Cash $2,560

Cr Notes Receivable $2,560

Jul-31

Dr Miscellaneous Expense $64

Cr Cash $64

Explanation:

1. Preparation of a Bank reconciliation statement

at July 31, 2022

CRANE COMPANY

Bank Reconciliation

July 31,2022

Cash balance per bank statement $11,136

Add: Deposits in transit $4,544

Less: Outstanding checks ($1,920)

Adjusted cash balance per bank $13,760

Cash balance per books $11,264

Add: Electronic Funds transfer Received $2,560

Less: Bank service charge ($64)

Adjusted cash balance per books $13,760

2. Preparation of the adjusting journal entries at July 31 on the books of Crane Company.

Jul-31

Dr Cash $2,560

Cr Notes Receivable $2,560

Jul-31

Dr Miscellaneous Expense $64

Cr Cash $64

7 0
3 years ago
Select the correct answer. Which actions should a company take if its product/brand falls under the BCG Matrix category of “dog”
andriy [413]

Answer:

A

Explanation:

While dealing with a DOG situation, it is  best to disinvest  in the product and focus on other products with greater market potential

7 0
3 years ago
Which of the following housing decisions provides a person with both
Lana71 [14]
C selling a share in cooperative
3 0
3 years ago
Read 2 more answers
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