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Varvara68 [4.7K]
2 years ago
14

On January 1, a company purchased equipment that cost $10,000. The company has not yet recorded depreciation, which is estimated

at $1,800 per year. The company will prepare financial statements at the end of January. Complete the necessary adjusting entry by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
finlep [7]2 years ago
3 0

Answer:

The adjusting entry is:

Debit Depreciation Expense - Equipment $1,800

Credit Accumulated Depreciation - Equipment $1,800

To record depreciation expense.

Explanation:

The adjusting journal entry records the depreciation expense for the year and adds the expense to the accumulated depreciation account.  The accumulated depreciation account is a contra account to the Equipment account.  The purpose that this contra account serves is to keep the Equipment account at its cost value while the gradual write-off of its value is reflected in an opposite account.

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Ruth Lewis is interested in buying a five-year zero coupon bond with a face value of $1,000. She understands that the market int
bearhunter [10]

Answer:

Bond Price = $580.2640476 rounded off to $580.26

Explanation:

A zero coupon bond is a kind of bond that does not pay interest to the bond holder like other bonds. Instead it is offered at a discount price and pays the par value at maturity. The discount price is calculated using a certain rate which can also be called the implied interest rate on this zero coupon bond. The formula to calculate the price of the zero coupon bond is,

Bond Price = Par Value / (1 + r)^t

Where,

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Bond Price = 1000 / (1+0.115)^5

Bond Price = $580.2640476 rounded off to $580.26

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3 years ago
Halt company employee material handling employees who move materials between production divisions at a labor cost of $160,000 a
Ivenika [448]

Answer:

The $12,000 is the material handling cost should be assigned to products made in March.

Thus, the correct option is a. $12,000

Explanation:

For computing how much of the material handling cost should be assigned, first we have to calculate the per pound of material. The formula is shown below:

Per pound of material = Labor cost ÷ Number of pounds

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                                    = $0.2 per pound of material

Now, multiply this per pound of material with moving pounds.

In mathematically,

Material Handling cost = Per unit of pound × Moving material

                                      = $0.2 × 60,000

                                      =$12,000

Hence, the $12,000 is the material handling cost should be assigned to products made in March.

Thus, the correct option is a. $12,000

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