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3 years ago

Problem 10-3A On January 1, 2017, Evers Company purchased the following two machines for use in its production process.

Business

1 answer:

timofeeve [1]3 years ago

7 0

Answer:

Please see the solution below:

Explanation:

Machine A:

(i) Total Machine A Cost 

Purchase Price = $37,500

Sales Tax = $3,600

Shipping Cost = $100

Insurance during shipping = $50

Installation and Testing Cost = $120

Total Machine A cost = $41,370

(ii) Depreciation

Recorded Cost = $41,370

Less: Salvage Value = $5,950

Useful Life = 5 years

Straight Line Method is used to find depreciation per yer will be:

Depreciation = $7,084

(1) The Journal Entry to record purchase of equipment (Machine A)

January 1, 2017

Dr. Equipment $41,370

Cr. Cash $41,370

(2) The Journal Entry to record annual depreciation (Machine A)

December 3, 2017

Dr. Depreciation $7,084

Cr. Accumulated Depreciation - Equipment $7,084

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Frank Fronton decided to become a professional jai alai player. In January, Fronton joined a jai alai club where he could train

belka [17]

Answer:

$6,300

Explanation:

The computation of expenses that can be deducted is shown below:-

Expenses that can be deducted = Fee paid for club after getting contract(for 5 months) + Replacement cost + Travelling

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= $6,300

Therefore for computing the expenses that can be deducted we simply add Fee paid for club after getting contract, replacement cost and travelling and the rest amount is not relevant for computation.

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3 years ago

Suppose that real GDP is currently $13.55 trillion and potential real GDP is $14.0 trillion, or a gap of $500500 billion. The

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Answer:

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Explanation:

Real GDP is currently = $13.55 trillion

Potential real GDP = $14.0 trillion

Gap = $500 billion

Government purchases multiplier = 5.0

Tax multiplier = 4.0

To increase aggregate demand by $500 billion, the required increase in government expenditure is:

= (1 ÷ government purchases multiplier) × change in aggregate demand

= (1 ÷ 5) × $500

= $100 billion

Therefore, the government expenditure need to be increased by $100 billion.

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3 years ago

A personal business letter should begin with the

Harlamova29_29 [7]

You start a business letter with your adress

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2 years ago

Greg, a landscaper, is planning on opening his own landscaping company. He currently earns $50,000 per year working for his uncl

schepotkina [342]

Answer: $52,840

Explanation:

The opportunity cost are the benefits he will give up to pursue his current venture of landscaping.

= Salary from working for uncle + Interest on the Savings to be used in business + Difference in market value if he waits till the end of the year

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= $52,840

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What reference is used to describe a township?

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أود أن تكون فإن الإحصائيات الثابتة والمتنقلة

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