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Morgarella [4.7K]
3 years ago
7

The Josey Company purchased equipment for $21,000 on October 1. It is estimated that annual depreciation on the computer will be

$7,000. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:______________
A) debit Depreciation Expense, $7,000; credit Accumulated Depreciation, $7,000.
B) debit Depreciation Expense, $1,750; credit Accumulated Depreciation, $1,750.
C) debit Depreciation Expense, $14,000; credit Accumulated Depreciation, $14,000.
D) debit Equipment, $1,750; credit Accumulated Depreciation, $1,750.
Business
1 answer:
zimovet [89]3 years ago
4 0

Answer:

b

Explanation:

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Most states impose limitations on the authority of the legislature to borrow money, with their objectives being to protect taxpa
vekshin1

Answer:

C).  to borrow money, limitations intended to protect.

Explanation:

As per the question, the correct statement to replace the underlined phrase would be 'to borrow...to protect' as it is grammatically appropriate and lexically coherent. The first option is incorrect due to the wrong usage of 'being' which disrupts the flow and meaning of the sentence while the second option inaptly employs '-ing' form of the verb('protecting') after the article 'the.'   Options 'D' and 'E' are the wrong due to grammatical errors like unnecessary usage of 'of which' and 'for borrowing.' Thus, <u>option C</u> is the correct answer.

8 0
3 years ago
Blasterhoff, Inc. is a company that makes cannons for blasting off fireworks. In order to build their business they brought in a
Paha777 [63]

Answer:

The next step would be to take action on the discovered research

Explanation:

The company hired the marketing researcher so the first step which is taken by the researcher is to conduct research, fetch the data from the researched data which is already been carried out by them. After fetching the data, a plan is to be created which is also already been carried out. Then the next step after all this would to take action or put into action the plan or the discovered research.

7 0
3 years ago
In December 2016, Learer Company’s manager estimated next year’s total direct labor cost assuming 40 persons working an average
nignag [31]

Answer:

1a. Predetermined Overhead Rate= 60%

Explanation:

Predetermined Overhead Rate=

Estinated overhead cost/Direct labor cost= $1,440,000/(40*$20*3000)

=60%

1b. Total Overhead Cost applied to each job

Job No Direct Labor Applied FOH60%

201 606,000 363,600

202 565,000 339,000

203 300,000 180,000

204 718,000 430,800

205 316,000 189,600

206 19,000 11,400

Total $2,524,000 $1,513,600

Overhead cost applied=

Direct Labor (1.b) * Predetermine overhead rate (1.a)

example:

(Job No. 201) 606,000 * 0.6 = 363,600

1c. Over applied or under applied at year end 2017

Actual Over head cost $1,542,000

Less:Overhead Appied - $1,513,600

Under applied over head $28,400

2. Adjusting Entry

Date Account Title Debit Credit

Dec Cost of goods $28,400 -

-31 sold

Factory - $28,400

Overhead

5 0
3 years ago
Read 2 more answers
Price controls that put a price ceiling on goods and services create __________.
KonstantinChe [14]
The answer to this question is Shortages.
Price control put a limit on how high the price could be put by the sellers toward a certain product.
This limitation often make produces feel discouraged in selling those products because of the lower profit which make the market experience a shortage in  that products
3 0
3 years ago
Read 2 more answers
When a parent owns less than 100% of a subsidiary, the noncontrolling interest shareholders are allocated their ownership percen
eduard

Answer: The optional accumulated depreciation elimination entry

Explanation:

A non-controlling interest, is also refered to as a minority interest, and this occurs when a has below 50% of the outstanding shares and in such case doesn't have a control over decisions as well.

It should be noted that when a parent owns less than 100% of a subsidiary, the noncontrolling interest shareholders are allocated their ownership percentage of income or net assets in all of the following eliminating entries except for the optional accumulated depreciation elimination entry.

6 0
3 years ago
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