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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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The group responsible for establishing standards that identify material specifications and testing procedures is ____.

Mrrafil [7]

Answer: ASTM International

Explanation:

The group that is responsible for the establishment of standards which identify material specifications and testing procedures is referred to as ASTM International.

ASTM International was formerly called the American Society for Testing and Materials. This is an international standards organization which technical standards for different products, materials, systems, and services.

It was put in place in order to improve safety and to also improve the quality o both the consumer and the industrial products.

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3 years ago

The customer service manager for the XYZ Fastener Manufacturing Company examined 60 vouchers and found 9 vouchers containing err

fredd [130]

Answer:

= (0.043 , 0.257)

Explanation:

p = 9/60 = 0.15

Z score for 98% confidence interval = Z0.01 = 2.33

The Confidence interval = (p + Z0.01 * sqrt(p * (1 - p) / n))

= (0.15 + 2.33 * sqrt(0.15 * (1 - 0.15) / 60))

= (0.15 + 0.107)

= (0.043 , 0.257)

6 0

3 years ago

Read 2 more answers

Computer professionals who are responsible for designing computers to be used within their companies are the

svetlana [45]

Computer professionals who are responsible for designing computers to be used within their companies are the <u>"system analysts".</u>

A system analyst is an information technology (IT) professional who has some expertise in analyzing, planning and executing data frameworks. Frameworks investigators survey the reasonableness of data frameworks as far as their proposed results and liaise with end clients, programming sellers and software engineers so as to accomplish these outcomes. A systems analyst is a man who utilizes examination and plan procedures to tackle business issues utilizing data innovation. systems analyst may fill in as change operators who recognize the hierarchical enhancements required, outline frameworks to actualize those progressions, and prepare and propel others to utilize the systems.

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3 years ago

Storico Co. just paid a dividend of $2.05 per share. The company will increase its dividend by 24 percent next year and then red

VikaD [51]

Answer:

A share of stock sell for <u>$74.21 </u>today.

Explanation:

This can be calculated as follows:

Dividend per share in year 1 = Year 0 dividend * (1 + growth rate of year 1 dividend) = $2.05 * (1 + 24%) = $2.5420

PV of year 1 dividend per share = Year 1 dividend / (1 + rate of return)^1 = $2.5420 * / (1 + 10%)^1 = $2.31090909090909

Dividend per share in year 2 = Year 1 dividend * (1 + growth rate of year 1 dividend) = $2.5420 * (1 + (24% -6%)) = $2.5420 * (1 + 18%) =$3.00

PV of year 2 dividend per share = Year 2 dividend / (1 + rate of return)^2 = $3.00 / (1 + 10%)^2 = $2.47933884297521

Dividend per share in year 3 = Year 2 dividend * (1 + growth rate of year 2 dividend) = $3.00 * (1 + (18% -6%)) = $3.00 * (1 + 12%) =$3.36

PV of year 3 dividend per share = Year 3 dividend / (1 + rate of return)^3 = $3.36 / (1 + 10%)^3 = $2.5244177310293

Dividend per share in year 4 = Year 3 dividend * (1 + growth rate of year 3 dividend) = $3.36 * (1 + (12% -6%)) = $3.36 * (1 + 6%) =$3.5616

PV of year 4 dividend per share = Year 4 dividend / (1 + rate of return)^4 = $3.5616 / (1 + 10%)^4 = $2.43262072262824

Dividend per share in year 5 = Year 4 dividend * (1 + growth rate of year 4 dividend) = $3.5616 * (1 + 6%) = $3.775296

Price at year 4 = Year 5 dividend / (Rate of return – growth rate) = $3.775296 / (10% - 6%) = $94.3824

PV of price at year 4 = Price at year 4 / (1 + rate of return)^4 = $94.3824 / (1 + 10%)^4 = $64.4644491496482

Share price to day = PV of year 1 dividend per share + PV of year 2 dividend per share + PV of year 4 dividend per share + PV of year 4 dividend per share + PV of price at year 4 = $2.31090909090909 + $2.47933884297521 + $2.5244177310293 + $2.43262072262824 + $64.4644491496482 = $74.21

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3 years ago

Sheridan sells softball equipment. On November 14, they shipped $3080 worth of softball uniforms to Palos Middle School, terms 2

aniked [119]

Amount will be recognized as net accounts receivable on the balance sheet as of November 30-- $2730

Explanation:

First of all, the order received from Tinley High School has not been delivered by the end of November ,hence the value of the order is irrelevant for the purpose of calculating net accounts receivable at the end of November.

However, out of the goods of $3080 sold to Palos Middle School,$350 worth has been returned as defective,leaving a balance of $2730 ($3080-$350).

For Palos to be entitled to the discount of 2% they should have made payment by 24th November,which never happened,as a result the accounts receivable stay at $2730.

What Is Net Receivables?

Net receivables are the total money owed to a company by its customers minus the money owed that will likely never be paid. Net receivables are often expressed as a percentage, and a higher percentage indicates a business has a greater ability to collect from its customers.

How do you calculate net accounts receivable?

You calculate net receivables by subtracting allowance for doubtful accounts from accounts receivable (A/R) on the balance sheet. The formula is A/R – allowance = net receivables.

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6 0

1 year ago