Answer: Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150
Explanation:
Depreciation is the decrease in fixed assets for use. At the end of each year the amount corresponding to the use of the assets is carried to accounting expenses, crediting the accumulated depreciation as a counterpart.
In this case it is only one month of depreciation, therefore if we know that annually the asset is going to depreciate US $ 1800, between twelve months it would be US $ 150, which would be due to expenses and credited to accumulated depreciation.
Answer:
The maximum price is $1.6
Explanation:
Giving the following information:
Down Hill’s annual costs related to the production of 100,000 wheels are as follows: Direct Materials $30,000 Direct Labor $50,000 Variable Overhead $20,000 Fixed Overhead $70,000 An outside supplier has offered to sell Down Hill similar wheels for $1.25 per wheel. If the wheels are purchased from the outside supplier, $15,000 of annual fixed overhead could be avoided and the new facilities now being used could be rented to another company for $45,000 per year.
Make in house:
Variable costs= 100,000
Avoidable overhead= 15,000
Rent lost= 45,000
Total= 160,000
Unitary cost= 160,000/100,000= $1.6
The maximum price is $1.6
Answer:
Explanation:
Journal Entries
On declaration of dividend
Dividend Receivable (10000*.5) 5000
Dividend Income 5000
To record the Dividend Income on declaration date
On dividend Receipt Date
Cash 5000
Dividend Receivable 5000
To record the receipt Dividend in ledgers.
W understated his age at the time he wanted to purchase the insurance policy; he was 52 then but he stated his age as 50. The normal procedure under the misstatement of age provision in regard to the payment of the death claim is that THE AMOUNT THAT WILL BE PAID TO W'S BENEFICIARIES WILL BE EQUIVALENT TO THE AMOUNT THAT THE PREMIUM WOULD HAVE BOUGHT IF THE CORRECT AGE HAD BEEN STATED.