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quester [9]
3 years ago
7

DogMart Company records depreciation for equipment. Depreciation for the period ending December 31 is $2,840 for office equipmen

t and $6,910 for production equipment. Required: Prepare the two entries to record the depreciation. Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
Scorpion4ik [409]3 years ago
4 0

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entry for the given data are as follows:

For Office equipment

Dec.31  Depreciation for office equipment A/c Dr $2,840

            To Accumulated depreciation for office equipment A/c $2,840

(Being the depreciation expense for office equipment is recorded))

For Production equipment

Dec.31  Depreciation for production equipment A/c Dr $6,910

            To Accumulated depreciation for production equipment A/c $6,910

(Being the depreciation expense for production equipment is recorded))

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Explanation:

Giving the following information:

Each unit of output can be sold for $5, variable costs are constant at $3 per unit, and if the fixed costs are $15,000.

We need to use the following formula:

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Cobe Company has already manufactured 17,000 units of Product A at a cost of $25 per unit. The 17,000 units can be sold at this
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Answer:

It is more convenient to continue processing.

Explanation:

Giving the following information:

Cobe Company has already manufactured 17,000 units of Product A for $25 per unit. The 17,000 units can be sold at this stage for $450,000. Alternatively, the units can be further processed at a $280,000 total additional cost and be converted into 5,800 units of Product B and 11,100 units of Product C. Per unit selling price for Product B is $100 and for Product C is $56.

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