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sammy [17]
3 years ago
7

For each separate case below, follow the three-step process for adjusting the accumulated depreciation account at December 31. S

tep 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year.

Business
1 answer:
alexandr1967 [171]3 years ago
7 0

   

[c]   Accumulated Depreciation Equipment

Step 1 $0   $0

Step 2 $6,400 Credit [($56000 - 11200) / 7 years]  $6,400

$6,400

Step 3 Accounts title Debit Credit  

Depreciation expense $6,400  

  Accumulated Depreciation - Equipment  $6,400

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an organization's __ refers to all relevant forces inside a firm's boundaries, such its mangers, employees, resources, and organ
Lorico [155]

Answer: Internal Environment

Explanation: An organization's internal environment refers to all relevant forces inside a firm's boundaries, such its mangers, employees, resources, and organizational culture.

5 0
3 years ago
Which of the following statements is false concerning the use of ABC in service industries?
ELEN [110]

Answer:

b. When using ABC for service industries, special methods must be used to identify cost pools and cost drivers due to the unique nature of the services offered.

Explanation:

The cost pool method are the same we should look for activities which add value to the product to provide a more accurate product costing.

In cases of services the company will also determinate activities considering this premise therefore, there is no especial nature to offer to the client.

6 0
3 years ago
Adam is a part-time employee who earned $495.00 during the most recent pay period. He is married with two withholding allowances
Akimi4 [234]

Answer:

Amount of Social Security tax  = $30.69

Explanation:

given data

earned = $495.00

pay = $6,492.39

to find out

How much should be withheld from Adam's gross pay for Social Security tax

solution

we assume here no pre tax is deductions

and social security tax rate is  6.2%

so Amount of Social Security tax  will be

Amount of Social Security tax =  earned × social security tax

Amount of Social Security tax = $495 × 6.2%

Amount of Social Security tax = $495 × 0.062

Amount of Social Security tax  = $30.69

5 0
3 years ago
1. Financial institutions in the U.S. economy Suppose Hubert would like to use $10,000 of his savings to make a financial invest
siniylev [52]

Answer:

c and e

Explanation:

4 0
3 years ago
In the annual report, where would a financial statement reader find out if the company’s financial statements give a fair depict
katrin2010 [14]

Answer:

Auditors Report

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In the Auditor's report, the auditor expresses his level of satisfaction that whether or not the financial statement presented show the true and fair picture of the organization. The external auditor is also involved in the investigation of errors and frauds in the financial statements.

8 0
3 years ago
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