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Hitman42 [59]
3 years ago
11

On August 4, Armstrong Trucking, Inc., paid $4,500 to replace the engine in one of its trucks. Complete the necessary journal en

try by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
kolbaska11 [484]3 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

Truck A/c Dr $4,500

        To Cash A/c  $4,500

(Being the truck is replaced for cash)

Since the truck is replaced so we debited the truck account and credited the cash account so that the correct posting can be done.

The replacement cost increase its useful life which is capitalized so we also debited the truck account

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An investment will pay $100 at the end of each of the next 3 years, $200 at the end of Year 4, $300 at the end of Year 5, and $6
Tomtit [17]

Answer:

present value $ 1,026.16

future value  $ 1,539.98

Explanation:

Present Value = $ 100 * 1/(1.07) ^ 1 + $ 100 * 1/(1.07) ^ 2 +$ 100 * 1/(1.07) ^3 + $ 200 * 1/(1.07) ^4 + $ 300 * 1/(1.07) ^5 +$ 600 * 1/(1.07) ^6

=93.45+ 87.34+81.62+152.20+213.23+398.32

= $ 1,026.16

therefore,  the correct value  is $ 1,026.16

b. Future Value = Present Value * ( 1+ Rate of Interest ) ^ Time

= $ 1,175.63 * ( 1+0.07) ^ 6

= $ 1,539.98

Hence the correct answer is $ 1,539.98

5 0
3 years ago
The price elasticity of supply is affected by
valentina_108 [34]

Answer:

B. the passage of time. 

Explanation:

Price elasticity of supply measures how sensitive quantity supplied are to changes in price.

Price elasticity of supply is determined by the passage of time.

Typically, in the short run, the elasticity of supply is usually inelastic. Prices do not usually impact quantity supplied because in the short run, some of the factors of production are fixed. But in the long run, the price elasticity of supply are more elastic.

The other factors listed above in the options affect the price elasticity of demand.

4 0
3 years ago
Controlling the money supply to achieve desired macroeconomic goals is called
Sergio [31]

Answer:

The answer is monetary policy

Explanation:

Monetary policy is an economic policy that manages the size and growth rate of the money supply in an economy. It is a powerful tool to regulate macroeconomic variables such as inflation, consumption, growth and liquidity.

3 0
3 years ago
Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal places.)
Ierofanga [76]

Answer:

Can you plssssssssssss help me

Can you do plsssssssss help me

7 0
3 years ago
Read 2 more answers
Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Indicate the missing amoun
mafiozo [28]

Answer:

a=   54796

h=  80,824

d=117916  

i=67915.68  

e=$ 352196  

b=  58,800  

f= 373496

j=  234500

c= 15100

k=   1900

g=3721596

Explanation:

Orlando Company

Manufacturing Cost Data

                                                 Case A          Case B       Case C

Direct materials used                 (a)               $91,200    $69,000

a=149,800 - 42,804-  52,200     54796

Direct labor                               52,200         143,800          (h)

$69,000 +x+0.82h= 216100

1.82h= 216100-69000

h= 147100/1.82= 80,824                                                     80,824

Manufacturing overhead applied 42,804      (d)                   (i)

d=82% of 143,800=117916                                 117916

i=82% of 80824 =  67915.68                                                 67915.68                      

Total manufacturing costs 149,800                 (e)              216,100

e=$91,200+ 143,800+ 117916                              352196

Work in process 1/1/14              (b)                21,300           18,400

b=208,600- 149,800                   58,800

Total cost of work in process 208,600         (f)                   (j)

f=352196+ 21,300                                           373496

j=216,100 + 18,400                                                               234500

Work in process 12/31/14             (c)               11,900            (k)

c=208,600 - 193,500                     15100

k=234500 -232,600                                                            1900

Cost of goods manufactured 193,500           (g)             232,600

g=373496- 11,900                                         3721596

The formulas used are given below.

Total Manufacturing Cost = Direct Materials + Direct Labor + Factory Overheads

Total cost of work in process= Total manufacturing costs+ Opening Work in process

Cost of goods manufactured= Total cost of work in process - Closing Work in process

In each of these if two amounts are known we can find the third one.We can also do rearrange these to find the required amounts.The calculation of each of the missing amount has been done next to it.

5 0
3 years ago
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