Answer and Explanation:
The Journal entry is shown below:-
Amount should be capitalized for new vehicle = Cost + Painting and new logo cost + Deluxe Roof rack and trailer hitch
= $15,600 + $6,600 + $2,900
= $25,100
We took the cost of painting and deluxe roof and trailer hitch costs into account as they are supposed to increase the vehicle's future benefits.
Depreciation = (Cost - Salvage Value) ÷ Number of Years
= ($25,100 - $6,300) ÷ 5
= $3,760 per year
In the year 2022 vehicle is used only for 6 months (July to Dec), depreciation expense for the year ended December 31, 2022 is
= $3,760 × 6 ÷ 12
= $1,880
So, the Journal entry is
Depreciation expense Dr, $1,880
To Accumulated Depreciation $1,880
(Being depreciation provided for the year 2022 is recorded)
Therefore for recording the depreciation provided for the year 2022 we simply debited the depreciation expenses while we credited the accumulated depreciation.
According to the poll, 84% <span>of american adults believe that god can perform miracles.
The high number is strongly correlate with he way human seek comfort in facing our problems. Rather than feeling that we completely helpless in facing all of our problems, most of us feel the need to rely on higher diety in order to give us a sense of security and comfort.</span>
Answer:
$15,780
Explanation:
The sticker price for a vehicle with all the features is the total of all the given cost elements.
These include the retail price, destination charge, cruise control, custom sound etc.
Hence, the sticker price for the vehicle
= $13,760 + $475 + $800 + $235 + $510
= $15,780
Answer:
You can focus your marketing and sales more on customers that have buyers who make their own purchasing decisions
Explanation:
Marketing and sales efficiency means getting more sales conversions with little amount of expended effort.
It will be beneficial to focus on customers who have buyers that are decision takers. This makes convincing the prospect and closing the sales deal an easier task . This is because you are dealing with only one person who has the final say in the business. Convincing him/her automatically means that you have the sales deal.
However, with the other customers who have lengthy decision-making processes involving many people within the organization, you will be dealing with convincing multiple people at the same time, before the sales deal is closed. this makes it harder to close more sales deals and increase sales.
Companies using the accrual concept of accounting to complete the measurement process at the year end through the recording of adjusting entries.
<h3>What is an accrual concept?</h3>
An accrual concept is one of the method which records the incomes at the time when it is earned or charges when it is incurred.
Adjusting entries are the entries recorded in the accounting books to close all the accounts at the year end. It helps in determining the correct amount of charges and revenues at the time of finalizing the accounting statements.
Therefore, the adjusting entries are used by the company to complete the measurement process while applying the accrual concept.
Learn more about the accrual concept in the related link:
brainly.com/question/17256489
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