Answer:
Using the units-of-production method, the amount of depreciation expense would the company report in the income statement prepared for the year-ended October 31, 2018 = $ 228899
Explanation:
Given
Acquisition Cost of Equipment = $ 517,000+ $ 16700= $ 533,700
Total units of production= 29,700 hours
Residual Value = $ 6700
Units of Production= 12,900 hours
Formula:
Depreciation per unit= (Cost -Salvage value) / Total units of production* Units of Production
Depreciation per unit= ($ 533,700 - 6700/ 29700)*12900
Depreciation per unit=($ 52,7000 / 29700)*12900
Depreciation per unit=( 17.744)*12900
Depreciation per unit= 228898.98= $ 228899
As units of production are given we do not need to calculate it for half year. The depreciation is calculated for units of production.
Answer: Option B
Explanation: Semi variable cost or semi fixed cost are the expenses which are composed of both fixed and variable cost. In such type of costs, the nature of the cost remains fixed till a certain level of production or consumption and becomes variable when the production level exceeds that stage.
For example :- A state charge its residents a fixed amount of electricity bill till 300 units of consumption and after 300 units the residents must pay $1 for every additional unit consumed.
Answer:
The decision making skill because it's hard for a judge to make the right decision.
Hi there, I'm not answering this question, sorry.
Your task clearly states you must think of your own example and prove what you know. That's why.
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Answer:
1) Debit sales discounts $14
2) Debit cash $686
3) Credit accounts receivables $700
Explanation:
nov-02 sold 700
terms 2/15 n 30
700
Discount 2%
14
Net payment 686
Db Cash_____________686
Db Sales discount_______14
Cr Account receivable_______700
