Answer:
The correct option is <u>b. $67,700</u>.
Explanation:
Note: The data in the question are merged. They are therefore sorted before answering the question. See the attached pdf file for the question and the sorted data.
In accounting, when an old equipment is exchanged for a new equipment in a transaction that has commercial substance, the new equipment will be recorded at the fair value less any cash received.
Therefore, the amount at which Pensacola would record the new equipment A can be determined as follows:
<u>Particulars $ </u>
Fair value of Equipment A 80,100
Cash received <u> (12,400) </u>
Amount to record equipment A <u> 67,700 </u>
Therefore, Pensacola would record the new equipment for Equipment A at $67,700. And, the correct option is <u>b. $67,700</u>.
Answer:
The missing deposit is $33.50
Explanation:
Given,
Bank statement balance = $268.93
Check register balance = $302.43
If all the transactions recorded in the check register where captured in the bank statement, the balances in the statement and register would have been the same. However, we are told that there is a deposit missing on your bank statement. Therefore,
Missing deposit = $302.43 - $268.93
= $33.50
The missing deposit amounts to $33.50.
The correct answer to the question is, Labor.
Hope that help. ♥♥♥