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Romashka-Z-Leto [24]
2 years ago
8

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

Business
1 answer:
sesenic [268]2 years ago
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.

To learn more about depreciation here:

brainly.com/question/28139636

#SPJ4

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if you had to reduce your spending to balance your budget, which would you try to reduce first variable or fixed expenses PLEASE
ziro4ka [17]

<u>Answer:</u>

Variable expenses are generally the principal costs that individuals attempt to slice when they have to begin setting aside cash. Sadly, factor expenses are additionally the absolute hardest costs to reduce, because it requires an everyday pledge to cheap essential leadership.

It is important to start reducing costs, take a consideration at both your variable fixed costs. Dedicating a Saturday evening to looking into the majority of your memberships, protection designs, and repeating month to month bills may assist you with cutting the expenses .

5 0
3 years ago
How the following changes will affect demand and supply strong argument:
Vilka [71]

Answer:

Please see below for answer

Explanation:

<u>1 Reduction in subsidy by government </u>

The supply will be negatively affected as the production cost will get higher and it will get more difficult to meet the demand of the product.

<u>2 Increase in price of wood </u>

This will again have an impact on the supply as the production cost increases due to more expensive raw materials.

<u>3 Need of cupboards increased in universities </u>

The demand has increased in this case and the supply will have to be increased too if the demand is to be met.

<u>4 Reduction in tax for both buyers and seller of cupboard</u>

This will result in an increase in both supply and demand as more people might be able to afford the cupboards now as compared to before.

8 0
3 years ago
A management that wanted to increase the financial leverage of its firm would: raise additional capital by selling fixed interes
Masteriza [31]

Answer: Raise additional capital by selling fixed Interest rate long term bonds

Explanation:

A firm can finance it's operations through equity or debts, the art of a firm financing it's operations through debts like bonds etc it's refered to as financial leverage.

A firm cannot increase it's financial leverage by selling common stock, neither through buying stock from his cash and financial leverage does relate with asset turnover.

7 0
3 years ago
What is a homestead exemption?
Katarina [22]

The answer is <u>"equity in a home that a debtor is permitted to retain".</u>


A homestead exemption shields the estimation of a home from property expenses and lenders following the demise of a mortgage holder life partner. A homestead exemption can be found in state resolutions and sacred arrangements over the U.S. also, is a programmed advantage in a few states. In states where the estate insurance isn't programmed, mortgage holders must document a case which must be re-recorded while moving main living places

6 0
4 years ago
Coverage on a One-Vehicle Accident. Bill Converse of Rexburg, Idaho, recently had his truck slide off a gravel road and strike a
Sonbull [250]

Answer:

$17,000

Explanation:

Data provided in the question

Suffered amount in damage = $17,500

Book value of the truck = $40,000

And, the deductible amount = $500

So, the amount reimbursement by his policy is

=  Suffered amount in damage - the deductible amount

= $17,500 - $500

= $17,000

We simply applied the above formula so that the reimbursed amount could arrive

6 0
3 years ago
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