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Fiesta28 [93]
3 years ago
13

Vaughn Manufacturing purchased equipment for $15300 on December 1. It is estimated that annual depreciation on the computer will

be $3060.
If financial statements are to be prepared on December 31, the company should make the following adjusting entry:

A) debit Depreciation Expense, $250, credit Accumulated Depreciation, $250.
B) debit Depreciation Expense, $3,060: credit Accumulated Depreciation, $3,060.
C) debit Equipment, $15,300: credit Accumulated Depreciation, $15,300.
D) debit Depreciation Expense, $12,240: ccredit Accumulated Depreciation, $12,240.
E) None of the above.
Business
1 answer:
ki77a [65]3 years ago
4 0

Answer:

The correct answer is option (E).

Explanation:

According to the scenario, computation of the given data are as follows:

Equipment = $15,300

Estimated annual depreciation = $3,060

Time period = 1 month

So, Depreciation = $3,060 × 1 ÷ 12

= $255

So, Here journal entry are as follows:

Depreciation A/c Dr $255

To Accumulated depreciation A/c $255

(Being the depreciation is recorded)

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Marta_Voda [28]

The adjusted trial balance should be prepared before the financial statements are prepared in order to prove the equality of the debits and credits.



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Setting up an adjusted trial balance is the fifth step in the bookkeeping cycle and is the last advance before monetary proclamations can be created.  

There are two fundamental approaches to set up an adjusted trial balance. Both ways are valuable relying upon the site of the organization and graph of records being utilized.

3 0
3 years ago
Organizations tend to increase the amount of planning and control closer to the point of execution when?
Zarrin [17]

Organizations tend to increase the amount of planning and control closer to the point of execution when a mechanistic approach to organizing is used.

Because the organization is confronted by high levels of environment and technological uncertainty fewer professional employees are a part of the organization & When properly designed, controls lead to better performance by enabling the organization to execute its strategy better.

Environment is a place where different things are such as a swampy or hot environment.

Professional is a person who does a job that requires special education or skill.

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8 0
2 years ago
Which statement best summarizes the information on these graphs? many bolivians are farmers, but the agriculture sector does not
Savatey [412]

These graphs show information regarding Bolivia's workforce. Many Bolivians are farmers but the agricultural sector does not produce much in terms of GDP.

<h3>What do you mean by GDP?</h3>

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5 0
2 years ago
Sunset Acres reported net income of $60 million. Included in that number were trademark amortization expense of $2 million and a
Bess [88]

Answer:

$62 million

Explanation:

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= $2 million - $1 million

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= Decrease in accounts receivable - Decrease in accounts payable + Decrease in inventory

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= $60 million + $1 million + $1 million

= $62 million

5 0
3 years ago
The manager of a fast food franchise will establish ________ in regard to how many hamburgers to cook each hour.
Elanso [62]
<span>I'm pretty sure there should be some options to choose. Anyway I know correct answer. Here it is: The manager of a fast food franchise will establish o</span><span>perational plans</span> in regard to how many hamburgers to cook each hour. Operational plan provides an actual picture of the company's current situation, and it's needed to achieve some strategic goals. 
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