Answer:
A MS Excel file is attached for the Journal general , please find it.
Explanation:
Entries to be Journalized
Date Account DR. Cr.
March 24 Cash $26,000
Owner's Capital $26,000
September 8 Cash $6,500
Account receivable $6,500
Answer:
C. include a credit to the equipment accumulated depreciation account.
Explanation:
Since Lamar Printing Company determines that a printing press used in its operations has suffered a permanent impairment in value because of technological changes. An entry to record the impairment should include a credit to the equipment accumulated depreciation account.
In Accounting, Depreciation can be defined as the decrease in the value of an asset (factory equipment, logistics tools etc) as a result of wear or tear, within a specific period of time. Depreciation is used for the allocation of cost to tangible assets with respect to its life expentency or within its useful life.
Answer:
29,394 units
Explanation:
The formula for break even point is given as Fixed cost / Contribution margin.
Where;
Contribution margin = Sales per unit - Variable cost per unit
Given that ;
Fixed cost = $194,000
Unit selling price = $14.90
Unit variable cost = $8.30
Therefore;
BEP(units) = $194,000 / $14.90 - $8.30
= $194,000 / $6.6
= 29,394 units
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