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2 years ago

If a company purchases equipment costing $5,800 on credit, the effect on the accounting equation would be

1 answer:

5 0

If a company purchases equipment costing $5,800 on credit, the effect on the accounting equation would be assets would increase by $5,800 and liabilities would increase by $5,800. When you purchase a new piece of equipment it becomes an asset because it is something you own that provides benefits. Due to purchasing the item on credit, it would also fall under a liability because it is money you have to pay back, similar to an IOU.

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On November 1, 2021, Jamison Inc. adopted a plan to discontinue its barge division, which qualifies as a separate component of t

skad [1K]

Answer:

d. $67 million.

Explanation:

The asset is not impaired because the fair value is higher than the book value. Therefore, the only operating loss of $67,000,000 can be reported.

Particulars Amount

Operating Loss(Jan 1 to 31 Dec 2021 $67,000,000

Before Tax loss on discontinued operation $67,000,000

Hence, Jamison would report a before-tax loss on discontinued operations of $67,000,000.

7 0

2 years ago

Pablo management has ten part-time employees, each of whom earns $145 per day. they are normally paid on fridays for work comple

kvv77 [185]

Explanation:

December 31, 2016: To record accrued wages for one day (10 workers × $145) = $1,450.

January 4, 2017: To record accrued and current wages.

Wages expense = 10 workers × 3 days × $145 = $4,350

Cash = 10 workers × 4 days × $145 = $5,800.

See attached photo.

4 0

2 years ago

"on may 1, mesa verde, inc. purchased a 2-year insurance policy for $15,600. prepaid insurance was debited for the entire amount

N76 [4]

The journal entry on May 1 was:

A debit to Prepaid Insurance for 15,600

And a credit to cash for 15,600

Prepaid Insurance is the share of an insurance premium that has been paid in early and has not finished as of the balance sheet date.

The monthly insurance payment for two years is computed by 15,600/24 months which is $650 per month.

At December 31 the adjusting entry would be:

A debit to Insurance Expense 5,200

And a credit to Prepaid Insurance for 5,200

5,200 is computed by:

650 x 8 months (starting from May 1 to December 31) = 5,200

5 0

2 years ago

Children with asthma can have severe asthma attacks if they catch common

BARSIC [14]

Answer:

All of the above can prevent the spread of infections

Explanation:

Germs are commonly known to be everywhere and can be spread in various ways, such as through the air in sneezes, coughs, or even breaths.

Hence, in this situation, in order to prevent the spread of germs, it is always advisable to carry out the following:

1. Make sure children take antibiotics every time they get sick

2. Wash your hands and children's hands often with soap and water

3. Cover your face with a re-usable handkerchief when you cough or sneeze

Therefore, the correct answer is "All of the above can prevent the spread of infections."

5 0

2 years ago

According to peterson, what was the catalyst for the formation of the first truly global trade network?

Snowcat [4.5K]

According to peterson, not the railroad was the catalyst for the formation of the first truly global trade network.

Who started the galleon trade?

After Augustinian friar and navigator Andrés de Urdaneta evolved the tornaviaje, or go back direction, from the Philippines to Mexico, the Spanish mounted the Manila galleon alternate direction in 1565.
In that year, Urdaneta and Alonso de Arellano finished the primary a success spherical trip.

What element made the Philippines a middle for shipbuilding?

Indios have been a abundant supply of reasonably-priced exertions that might be abused. -Indians have been professional shipbuilders. -enough deliver of top-notch lumber.

Who constructed the primary deliver withinside the world?

Among the earliest deliver builders have been the Egyptians. Egyptian vases and graves include the earliest depictions of boats ever discovered.
These images, which date again at least 6000 years, depict long, slender boats.
They used paddles to row and have been mainly made from papyrus reeds.

Learn more about galleon trade

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1 year ago