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Tom [10]
4 years ago
6

Which of the following accounts would be decreased by a credit entry?

Business
1 answer:
Tom [10]4 years ago
6 0

A Bank account (if bad or good), A Welfare Account (If good, you will no longer receive services.) Card Bureau account can change due to unexpected reasons, can go down or go up.

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Economics Unit 5 Study Guide
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3 years ago
On April 1, 2017, La Presa Company sells some equipment for $18,000. The original cost was $50,000, the estimated salvage value
aksik [14]

Answer:

Option (a) is correct.

Explanation:

Depreciation in 2017:

=\frac{Original\ cost-Salvage\ value}{Useful\ life}\times time\ period

=\frac{50,000-8,000}{6}\times\frac{3}{12}

      = $1,750

Accumulated Depreciation = $29,400 + Depreciation in 2017

                                             =  $29,400 +  $1,750

                                             =  $31,150

Book value on date of sale = Original cost - Accumulated Depreciation

                                             = 50,000 - 31,150  

                                              = 18,850

Loss on sale = Book value on date of sale - Sales price

                     = 18,850 - 18,000

                     = $850 (Loss)        

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