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2 years ago

Gill company calculated equipment depreciation for the month of $500. the necessary adjusting entry will include a:_________

1 answer:

7 0

Gill company calculated equipment depreciation for the month of $500. The necessary adjusting entry will include a credit to accumulated depreciation, and debit to depreciation expense.

The basic journal entry for depreciation is to debit the depreciation expense account and credit the accumulated depreciation account. Depreciation expense is recorded on the income statement as an expense or debit, reducing net income.

On the other hand, accumulated depreciation is not recorded separately on the balance sheet. Instead, it is recorded in a contra asset account as a credit, by reducing the value of fixed assets.

Hence, the entry will include a credit to accumulated depreciation, and debit to depreciation expense.

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A worker gets a raise of $120 per month and quickly decides to spend $90 of the money on necessities and the occasional luxury,

mote1985 [20]

Answer:

The marginal propensity to consume (MPC) is 0,75.

Explanation:

This value is gotten by dividing the $90 of consumption by total raise ($120). MPC is a ratio that calculates the tendency of people to consume per every unit of money (in this case, dollars). In aggregate levels, it is important to understand the effects of investment and consumption in the whole economy

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4 years ago

"modern technology is developed from traditional technology".Explain

Sindrei [870]

Answer:

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3 years ago

Once lower-order needs are satisfied, it is difficult to predict which higher-order needs will motivate behavior.

Levart [38]

Two basic needs categories:

1. Lower-Order needs- this includes safety, physiological requirements.

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3 years ago

Del Gato Clinic's cash account shows a $11,589 debit balance and its bank statement shows $10,555 on deposit at the close of bus

Sliva [168]

Answer:

Bank Reconciliation

Bank Statement Balance 10,555

Add: June 30 Deposit 2,856

13,411

Less: Outstanding Checks (1,829)

Adjusted bank balance $11,582

Bank Reconciliation

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Adjusted book balance 11,582

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3 years ago

Decide whether each situation is a checking account deposit or debit. Drag each situation to correct category.

klemol [59]

The question is incomplete:

Decide whether each situation is a checking account deposit or debit. Drag each situation to correct category.

-banking a $100 gift check

-paying a utility bill online

-receiving an eft of wages earned

-writing a check for groceries

-taking $40 out of an atm

Answer:

-banking a $100 gift check : deposit

-paying a utility bill online : debit

-receiving an eft of wages earned : deposit

-writing a check for groceries : debit

-taking $40 out of an atm: debit

Explanation:

A checking account is a bank account in which you can deposit or withdraw money. A checking account deposit is when you transfer money into the bank account and a debit is when the money is taken out of the account. According to this, the answer is:

-banking a $100 gift check : deposit because you are adding funds to the account

-paying a utility bill online : debit because by paying the bill you decrease the amount in the account.

-receiving an eft of wages earned : deposit because this increases your balance.

-writing a check for groceries : debit because the amount paid decreases the balance of the account.

-taking $40 out of an atm: debit because this decreases the balance of the account.

0 0

3 years ago