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Ghella [55]
3 years ago
10

Match the items below by entering the appropriate code letter in the space provided. Plant assets Book value Salvage value Strai

ght-line method Units-of-activity method Double-declining-balance method MACRS Revenue expenditures Capital expenditures 1. Small expenditures which primarily benefit the current period. 2. Cost less accumulated depreciation. 3. An accelerated depreciation method used for financial statement purposes. 4. Tangible resources that are used in operations and are not intended for resale. 5. Equal amount of depreciation each period. 6. Expected cash value of the asset at the end of its useful life. 7. Process of allocating the cost of equipment over its service life. 8. Material expenditures that increase an asset's operating efficiency, productive capacity, or useful li 9. An accelerated depreciation method used for tax purposes. 10. Useful life is expressed in terms of units of production or expected use.
Business
1 answer:
disa [49]3 years ago
7 0

Answer:

1. Small expenditures which primarily benefit the current period. REVENUE EXPENDITURES

2. Cost less accumulated depreciation. BOOK VALUE

3. An accelerated depreciation method used for financial statement purposes. DOUBLE DECLINING BALANCE METHOD

4. Tangible resources that are used in operations and are not intended for resale. PLANT ASSETS

5. Equal amount of depreciation each period. STRAIGHT LINE METHOD

6. Expected cash value of the asset at the end of its useful life. SALVAGE VALUE

7. Process of allocating the cost of equipment over its service life. DEPRECIATION

8. Material expenditures that increase an asset's operating efficiency, productive capacity, or useful life CAPITAL EXPENDITURES

9. An accelerated depreciation method used for tax purposes. MACRS

10. Useful life is expressed in terms of units of production or expected use. UNITS OF ACTIVITY METHOD

Explanation:

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Pamper Me Salon Inc.’s general ledger at April 30, 2017, included the following: Cash $5,000, Supplies $500, Equipment $24,000,
seraphim [82]

The beginning balances should be entered in the general ledger as of April 30, 2017, as

follows:

A. Beg. Bal

Supplies

(Beg. Bal 500]

Equipment,

[Beg.Bal___ 24000]

‘Accounts Payable

72100 Beg. Bal

Notes Payable

110000 Beg. Bal

neared Service Revenue

1000 Beg. Bal

Common Stock

‘5000 Beg. Bal

Retained Earnings

11400 Beg. Bal

D.  

Prepare the trial balance as follows:

PM Salonine.

Trial Balance

As on May 31, 2017

Account Titles Debit ($) Credit ($)

Cash 5100

Supplies 1200

Equipment 24000

‘Accounts Payable 1200

Unearned Service Revenue 1200

Notes Payable 10000

Common Stock 5000

Retained Earnings 11400

Service Revenue 6000

Salaries Expense 2400

Rent Expense 1000

Advertising Expense 500

Utilities Expense 400

Interest Expense 50

Income Tax Expense 150

Total 34800-34800

Learn more about balances here:- brainly.com/question/24914390

#SPJ9

6 0
1 year ago
Harrelson Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials a
riadik2000 [5.3K]

Solution:

Instructions Journalize the April transactions:

Date                           Account Titles and Explanation

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

                                                     Raw Materials Inventory

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

                                                              Factory Labor

4/30                             Work in Process—Cooking

                                   Work in Process—Canning

                                                  Manufacturing Overhead

4/30                             Work in Process—Canning

                                    Work in Process—Cooking

Cooking and out the debits

Debit                               Credit          

22,800

10,900                             33,700      

9,400

7,230                              16,630

33,800

28,100                            61,900

55,900                          

                                      55,900

6 0
3 years ago
Trust based on a person's competence would be summarized by this team member's affectionate statement towards another team membe
Maslowich

Answer:

The correct answer is:

I trust you to be able to accomplish this task (C)

Explanation:

First of all, you have to know the meaning of the word competence, and competence is a collection of related relevant abilities, know-how and skills required to act effectively on a job or situation. Which is a clear message passed by the speaker in the statement "I trust you to be able to accomplish this task", because the speaker knows that his team member possesses the right skills to carry out a task successfully.

The statement in option D ( "I trust you to do the right thing." ) also tells a little about competence because one of the definitions of competence highlights being sane, and one needs to be sane to do the right thing, but it is only second choice when compared to the statement in option "C".

Next time when you are faced with this kind of question, identify the keyword ( which in this case is competence), and use that to answer the question.

7 0
3 years ago
On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances:
strojnjashka [21]

Answer:

Dynamite Fireworks

1. January 2

Debit Prepaid Rent $7,500

Credit Cash $7,500

To record the purchase of rental space in advance ($625/month).

2. January 9

Debit Supplies $4,000

Credit Accounts Payable $4,000

To record the purchase of additional supplies on account.

3. January 13

Debit Accounts Receivable $26,000

Credit Service Revenue $26,000

To record the provision of services to customers on account.

4. January 17

Debit Cash $4,200

Credit Deferred Revenue $4,200

To record the receipt of cash in advance for future services.

5. January 20

Debit Salaries Expense $12,000

Credit Cash $12,000

To record the payment of salaries.

6. January 22

Debit Cash $24,600

Credit Accounts Receivable, $24,600

To record the receipt of cash on account.

7. January 29

Debit Accounts Payable, $4,500

Credit Cash $4,500

To record the payment on account.

Adjustments on January 31.

8. Debit Rent Expense $625

Credit Prepaid Rent $625

To record the rent expense for January.

9. Debit Supplies Expense $4,300

Credit Supplies $4,300

To record the supplies expense for January.

10. Debit Deferred Revenue $3,575

Credit Service Revenue $3,575

To record revenue for services provided.

11. Debit Salaries Expense $5,450

Credit Salaries Payable $5,450

To accrue unpaid salaries at the end of January.

12. Debit Service Revenue $29,575

Credit Income Summary $29,575

To close the revenue account to the income summary.

13. Debit Income Summary $22,375

Credit:

Salaries Expense $17,450

Rent Expense $625

Supplies Expense $4,300

To close the expense accounts to the income summary.

Explanation:

a) Data and Calculations:

Accounts Debit Credit

Cash                      $ 24,300

Accounts Receivable 5,700

Supplies                     3,600

Land                        55,000

Accounts Payable                $ 3,700

Common Stock                     70,000

Retained Earnings                 14,900

Totals                  $ 88,600 $88,600

Transactions and Analysis:

January 2 Prepaid Rent $7,500 Cash $7,500 ($625/month).

January 9 Supplies $4,000 Accounts Payable $4,000

January 13 Accounts Receivable $26,000 Service Revenue $26,000

January 17 Cash $4,200 Deferred Revenue $4,200

January 20 Salaries Expense $12,000 Cash $12,000

January 22 Cash $24,600 Accounts Receivable, $24,600

January 29 Accounts Payable, $4,500 Cash $4,500

Adjustments on January 31.

Rent Expense $625 Prepaid Rent $625

Supplies Expense $4,300 Supplies $4,300

Deferred Revenue $3,575 Sales Revenue $3,575

Salaries Expense $5,450 Salaries Payable $5,450

6 0
2 years ago
Partial balance sheets and additional information are listed below for Funk Company. Funk Company Partial Balance Sheets as of D
mart [117]

Answer:

$786,100

Explanation:

Funk Company

Accounts receivable $93,500 -$ 89,600

=$3,900

Sales totaled $790,000 - $3,900

=$786,100

Hence;

Cash (received from customers)$786,100

Add Accounts receivable $3,900

Sales revenue $790,000

Therefore the amount of cash received from customers during 2021 will be $786,100

5 0
3 years ago
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