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kherson [118]
2 years ago
7

Which of the following best illustrates the unit of account function of money"?

Business
2 answers:
Evgesh-ka [11]2 years ago
7 0

Answer:

Explanation:

a you list prices for candy sold

Minchanka [31]2 years ago
7 0
B) you pay for your WNBA tickets
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Which description properly describes a step involved in cellular respiration? A. Glucose is created them the energy gained is tr
Nat2105 [25]

Answer:

a

Explanation:

3 0
3 years ago
On January​ 1, 2018, Jordan Company acquired a machine for​ $1,090,000. The estimated useful life of the asset is five years. Re
anyanavicka [17]

Answer:

$206000.

Explanation:

Given: Asset purchase value = \$ 1090000

          Residual value after five years= \$ 60000

          Estimated useful life of asset= five years.

Now, we will calculate depreciation per year using straight line method.

Depreciation= \frac{(purchased\ value\ of\ asset - residual\ value)}{estimated\ useful\ life\ of\ asset}

⇒ Depreciation = \frac{(1090000 - 60000)}{5} = \frac{1030000}{5}

∴ Depreciation expense per year = \$ 20600

3 0
2 years ago
Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one
IrinaVladis [17]

Answer:

Part 1

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

Explanation:

Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

8 0
3 years ago
On January​ 1, 2018,​ Jordan, Inc. acquired a machine for $ 1,000,000. The estimated useful life of the asset is five years. Res
klemol [59]

Answer:

Annual depreciation=$188,000

Explanation:

Giving the following information:

Purchasing price= $1,000,000

Salvage value= $60,000

Useful life= 5 years

To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,000,000 - 60,000)/5

Annual depreciation=$188,000

6 0
2 years ago
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The com
Katyanochek1 [597]

Answer:

$112,000

Explanation:

The computation of using activity based costing for overhead costs to activity cost pools is below:-

Factory utilities for processing

= $99,000 × 0.30

= $29,700

Factory utilities for Setting up

= $99,000 × 0.50

= $49,500

Factory utilities for others

= $99,000 × 0.20

= $19,800

Total = $99,000

Indirect Labor for processing

= $13,000 × 0.20

= $2,600

Indirect labor for setting up

= $13,000 × 0.30

= $3,900

Indirect labor for others

= $13,000 × 0.50

= $6,500

Total = $13,000

Overhead costs = $99,000 + $13,000

= $112,000

3 0
3 years ago
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