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ikadub [295]
2 years ago
12

S10-5 (book/static) On February 28​, 2017​, Rural Tech Support purchased a copy machine for $ 53 comma 400. Rural Tech Support e

xpects the machine to last for six years and to have a residual value of $ 3 comma 000. Compute depreciation expense on the machine for the year ended December​ 31, 2017​, using the​ straight-line method.
Business
1 answer:
Andrews [41]2 years ago
3 0

Answer:

$7,000

Explanation:

depreciation expense using straight line method = (purchase cost - salvage value) / useful life = ($53,400 - $3,000) / 6 years ) = $8,400 per year

since the machine was used for 10 months, the depreciation expense for 2017 = $8,400 x 10/12 = $7,000

the adjusting journal entry should be:

December 31, 2017, depreciation expense

Dr Depreciation expense 7,000

    Cr Accumulated depreciation - copy machine 7,000

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Total  effect on income= $190,000

Explanation:

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An analysis of costs and expenses reveals that the variable cost of goods sold is $95 per unit and variable operating expenses are $35 per unit. In September, Carney Company receives a special order for 40,000 machines at $135 each from a major coffee shop franchise. Acceptance of the order would result in $10,000 of shipping costs but no increase in fixed expenses

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2 years ago
You are an international shrimp trader. A food producer in the Czech Republic offers to pay you 2.3 million Czech koruna today i
Y_Kistochka [10]

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$19,002.77

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B) making warranties easier to understand.

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