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3 years ago

Great Adventures Problem

Business

1 answer:

andrew11 [14]3 years ago

3 0

Answer and Explanation:

The Journal entry is shown below:-

Amount should be capitalized for new vehicle = Cost + Painting and new logo cost + Deluxe Roof rack and trailer hitch

= $15,600 + $6,600 + $2,900

= $25,100

We took the cost of painting and deluxe roof and trailer hitch costs into account as they are supposed to increase the vehicle's future benefits.

Depreciation = (Cost - Salvage Value) ÷ Number of Years

= ($25,100 - $6,300) ÷ 5

= $3,760 per year

In the year 2022 vehicle is used only for 6 months (July to Dec), depreciation expense for the year ended December 31, 2022 is

= $3,760 × 6 ÷ 12

= $1,880

So, the Journal entry is

Depreciation expense Dr, $1,880

To Accumulated Depreciation $1,880

(Being depreciation provided for the year 2022 is recorded)

Therefore for recording the depreciation provided for the year 2022 we simply debited the depreciation expenses while we credited the accumulated depreciation.

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Molly, a company mediator, had agreed to help Martin and Samir. The two men had been in constant conflict ever since they became

romanna [79]

Answer: accommodating

Explanation:

Based on the information given in the question, according to the assessment, Samir's preferred conflict style is accommodating.

Accommodating style is when one puts the need of the other party before theirs such that the person allows the other party win and get it done their way.

In such scenarios, one believes that taking too much time arguing isn't worth it. Since Samir's assessment showed that it was typical for him be willing to give up some of his own needs, as long as the other party was willing to do the same in order to find a workable solution, then he's using accommodating style.

7 0

3 years ago

Presented below is the balance sheet for HHD, Inc., at December 31, 2016. Current assets $ 676,000 Current liabilities $ 476,000

Gemiola [76]

Answer:

2016 Balance Sheet

$169,000 Cash

$109,000 Investment in Common Stock

$219,000 Accounts Receivable

$244,000 Inventory

$44,000 Prepaid Insurances

$785,000 TOTAL CURRENT ASSETS

$990,000 Land

$690,000 Machinery and Equipment

-$219,000 Accum Depreciation

$1,690,000 Buildings

-$619,000 Accum Depreciation

$129,000 Patents

$269,000 Restricted Cash

$109,000 Copyright

$179,000 Investment in Common Stock

$3,218,000 TOTAL NONCURRENT ASSETS

$4,003,000 TOTAL ASSETS

$119,000 Accounts Payable

$79,000 Taxes Payable

$169,000 Notes Payable

$367,000 TOTAL CURRENT LIABILITIES

$587,000 Bonds Payable 2021

$109,000 Notes Payable

$696,000 TOTAL NONCURRENT LIABILITIES

$1,063,000 TOTAL LIABILITIES

$1,950,000 Common Stock

$990,000 Retained Earnings

$2,940,000 TOTAL EQUITY

$4,003,000 TOTAL EQUITY + LIABILITIES

Explanation:

Account of Current Assets , the criteria is to have a liquidity speed less than one year

Cash

Investment in Common Stock

Accounts Receivable

Inventory

Prepaid Insurances

Account of Non Current Assets , the criteria is to have a liquidity speed more than one year and are known as fixed assets

Land

Machinery and Equipment

Accum Depreciation

Buildings

Accum Depreciation

Patents

Restricted Cash

Investment in Common Stock

Account of Current Liabilities , the criteria is to have a liquidity speed less of one year

Accounts Payable

Taxes Payable

Notes Payable

Account of Non Current Liabilities, the criteria is to have a liquidity speed more than one year and are known as long term financing

Bonds Payable 2021

Notes Payable

Account of Total Equity

Common Stock

Retained Earnings

Liquidity is defined as the speed of the assets that will be converted into cash, Assets that take less days to buy or sell are more liquid than others.

Cash is the most liquid asset, then Accounts Receivable and Inventories for the end, in the middle there are different assets such as capital investments.

Prepaid expenses are not liquid because these accounts do not mean that the company can get cash unless the company has rights to something.

7 0

4 years ago

Managing economic exposure is generally perceived to be ____ managing transaction exposure. a. more difficult than b. less diffi

Anit [1.1K]

Answer:

the correct answer is a. more difficult than

Explanation:

Unlike Transaction exposure, economic exposure is difficult to predict and difficult to mitigate in an event of occurence, thus making it harder to manage than transaction exposure.

This is mainly because economic exposure can happen due to various macro economic factors and international political incidents.

6 0

3 years ago

Read 2 more answers

When Dell decided to produce and market an affordable personal computer, it had to consider a number of issues:________what the

Mnenie [13.5K]

Answer: Design, planning is the answer.

When Dell decided to produce and market an affordable personal computer, it had to consider a number of issues:___design_____what the computer would look like,where and how it would be produced, what options it would include, and so on.

Supplying answers to these questions is part of:_____planning.

Design has to do with problem detection while planning deals with problem solving.

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4 years ago

When couples not only enjoy each other's company, but closeness is both wanted and needed, they are in the?

aleksklad [387]

<span>Actually here in this type of scenarios the couples are in the starting phase of mutual relationships which may be of any of types of relationships, ie, the couples want to spend as much time as possible together to know, feel & understand eachother and finally form a very close relationships , which may sometimes end in true love for sure. The correct answer is integrating stage.</span>

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3 years ago