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Margarita [4]
3 years ago
14

Cheyenne Corporation owns equipment that cost $49,200 when purchased on April 1, 2013. Depreciation has been recorded at a rate

of $8,200 per year, resulting in a balance in accumulated depreciation of $38,950 at December 31, 2017. The equipment is sold on July 1, 2018, for $9,840. Prepare journal entries to
(a) update depreciation for 2018 and
(b) record the sale
Business
1 answer:
jeka943 years ago
8 0

Answer:

Please see the answers below:

Explanation:

(a)

<em>Dated: July 1, 2018 </em>

Debit: Depreciation Expense         $4,100

Credit: Accumulated Depreciation           $4,100

To record Depreciation Expense for 6 months as the depreciation expense is $8,200 per year.

(b)

<em>Dated: July 1, 2018 </em>

Debit: Cash                                       $9,840

Debit: Accumulated Depreciation   $43050

Credit: Gain on Sale                                         $3690

Credit: Equipment                                         $49,200

To record the sale of asset with Gain.

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Explanation:

With regards to the information given in the question, the best option will be for the leaders to find ways to enable the employees to see the value in changes that are needed for the organization to succeed.

In every organization, communication is key between the management and the employees. In this case, the leaders should inform the employees about the reason that they are taking the decision and how the decision will have an impact on the organization.

Taking legal steps against the employees or laying them off isn't the right thing to do. The employees should be made to see the value in the changes to be made.

Therefore, the correct option is B.

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2 years ago
The following cost data pertain to the operations of Rademaker Department Stores, Inc., for the month of March. Corporate headqu
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Answer:

The answer is c. $40,700.

Explanation:

The direct costs of the Cosmetics Department are all the costs which are incurred for the operations & revenue generating activities of the Cosmetics Department only; which may be incurred at the Department itself or at other Department(s)/Store(s) which the purposes are for serving the Cosmestic Department.

Thus, these costs include the following cost items:

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3 years ago
The following accounts appear in an adjusted trial balance of Bridgewater Consulting. Indicate whether each account would be rep
igomit [66]

Answer:

Explanation:

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3 years ago
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