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Ulleksa [173]
3 years ago
15

Micron Precision purchased equipment on January ​1, 2018​, for $ 40,606. Suppose Micron Precision sold the equipment for $ 30,00

0 on December 31, 2019. Accumulated Depreciation as of December ​31, 2019​, was $ 12,494. Journalize the sale of the​ equipment, assuming​ straight-line depreciation was used.
Business
1 answer:
Step2247 [10]3 years ago
3 0

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $30,000

Accumulated Depreciation - Equipment A/c $12,494

        To Equipment A/c $40,606

        To Gain on Disposal of Equipment $1,888

(Being sale of machinery is recorded and the remaining balance is credited to the Gain on Disposal of Machinery A/c)

The computation is shown below:

= $30,000 + $12,494 - $40,606

= $1,888

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raketka [301]

Question Completion:

Since the options are not provided, it is assumed that ACME requires 2,000 units of Component X monthly.  Which supplier should the company choose?

Answer:

ACME Manufacturing Company

The supplier that should be chosen is:

Supplier A.

Explanation:

a) Data and Calculations:

Quantity of component X required monthly = 2,000 units

Cost of buying from supplier A = $3,000 + ($2.50 * 2,000) = $8,000

Cost of buying from supplier B = $6 * 2,000 = $12,000

Cost of buying from supplier C = $5 * 2,000 = $10,000

b) This cost decision depends on the quantity of component X required by ACME manufacturing.  If the quantity were to be less than or equal to 1,100 units, another supplier other than supplier A might be preferred.  Again, if there are other considerations apart from cost, supplier A might not be chosen.  The implication is that the choice of a supplier for a component depend on many factors.

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On June 1, 2021, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a maturity value of $420,000 a
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Answer:

$413,000

Explanation:

Calculation to determine the carrying value of the note as of September 30, 2021

Carrying value=[$420,000 - ($420,000 .010*6/12)]+ [($420,000 .010*6/12)*4/6]

Carrying value=[$420,000-$21,000]+ ($21,000*4/6)

Carrying value=[$420,000-$21,000]+ $14,000

Carrying value=$399,000+ 14,000

Carrying value=$413,000

Therefore the carrying value of the note as of September 30, 2021 is $413,000

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3 years ago
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A person In technology

Explanation:

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During its most recent fiscal year, Dover, Inc. had total sales of $3,340,000. Contribution margin amounted to $1,570,000 and pr
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d) $1,065,000

Explanation:

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3 years ago
Nadine is retiring today at age 66 and expects to live to age 82. She has $136,000 in her retirement savings account. She is som
Natali [406]

Answer:

$1,103.56

Explanation:

In this question, we use the PMT formula that is shown in the attachment. Kindly find it below:

Provided that

NPER = (82 - 66) × 12 = 192

Present value = $136,000

Future value = $0

Rate of interest = 6% ÷ 12  months = 0.5%

The formula is shown below:

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The present value come in negative

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