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liubo4ka [24]
3 years ago
10

At the beginning of Year 1, Mitchell Company purchased office equipment for $15,000. The machine has an estimated residual value

of $1,000 and an estimated service life of 5 years. If Mitchell uses straight-line depreciation, it will make which of the following entries related to depreciation at the end of Year 1?
Business
1 answer:
QveST [7]3 years ago
3 0

Answer:

Debit the depreciation expense for $2800

Explanation:

Straight line depreciation expense = (cost of asset - Salvage value) / useful life

($15,000 - $1,000) / 5 = $2,800

I hope my answer helps you

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A company's board of directors votes to declare a cash dividend of $1.20 per share of common stock. The company has 24,000 share
katen-ka-za [31]

Answer:

$22,200

Explanation:

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors . It is only outstanding shares that receive dividend payment.

Issued shares are the shares that a company issues

cash dividend = $1.20 x 18,500 = $22,200

3 0
3 years ago
Checks are promises to pay a sum of money at some time in the future. <br> a. True <br> b. False
pishuonlain [190]

the answer to this question is true



7 0
3 years ago
The use of slang creates which type of communication barrier ?
Feliz [49]
Some sort of translation error? Most slang language is unable to be translated
3 0
2 years ago
holly took a prospective client to dinner at a restaurant, and after agreeing to a business deal, they went to the theater. holl
finlep [7]

Since the cost of entertainment are not deductible, then, the amount of expenditures that holly can deduct as a business expense will be $145.

Here, since the both are business partner, it is expected that they will both share the expenses therein.

However, the cost of entertainment are not deductible.

 

Holly"s expenses = $290 × 50%

Holly"s expenses = $145.

Therefore, the amount of expenditures that holly can deduct as a business expense will be $145.

Read more about deductible

<em>brainly.com/question/4708897</em>

6 0
2 years ago
Notifies the materials manager to send materials to a production department. 2. Holds indirect costs until assigned to productio
Andre45 [30]

Answer:

1. Notifies the materials manager to send materials to a production department---   material requisition

2. Holds indirect costs until assigned to production---    factory overhead account

3. Hold production costs until products are transferred from production to finished goods (or another department)---   goods in process inventory account

4. Standardizes partially completed units into equivalent completed units---    equivalent units of production

5. Holds costs of finished products until sold to customers---    finished goods inventory account

6. Describes the activity and output of a production department for a period---   process cost summary

7. Holds costs of materials until they are used in production or as factory overhead---    raw material inventory account

Explanation:

The complete question requires that we match the above to the options below

a. process cost summary

b. equivalent units of production

c. goods in process inventory account

d. raw material inventory account

e. material requisition

f. finished goods inventory account

g. factory overhead account

5 0
3 years ago
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