1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hram777 [196]
3 years ago
9

On January 1, 2018, the company purchased equipment that cost $10,000. The equipment is expected to be worth about (or has a sal

vage value of) $1,000 at the end of its useful life in five years. The company uses straight-line depreciation. It has not recorded any adjustments relating to this equipment during 2018. Complete the necessary journal entry.
Business
1 answer:
vichka [17]3 years ago
5 0

Answer:

The journal entries are as follows:

(i) On January 1, 2018

Equipment A/c Dr. $10,000

        To cash A/c                  $10,000

(To record the purchase of equipment)

(ii) On December 31st,

Depreciation expense A/c Dr. $1,800

              To Accumulated depreciation - equipment   $1,800

(To record the accumulated depreciation on equipment for the year 2018 under the straight line method)

Workings:

Depreciation:

= (Cost of the equipment - Salvage value) ÷ Useful life

= ($10,000 - $1,000) ÷ 5

= $9,000 ÷ 5

= $1,800

You might be interested in
NewCorp has net income of $360. The firm pays out 35 percent of the net income to its shareholders as dividends. During the year
zmey [24]

Answer:

The cash flow to stockholders amounts to $45

Explanation:

Cash flow to stockholders is the term which is defined as the cash amount which the company pays out to the shareholders.

The cash flow to stockholders is computed as:

Cash flow to stockholders = Dividend paid - New equity raised

where

Dividend paid is computed as:

Dividend paid = Net Income × %

= $360 × 35%

= $126

New equity raised is $81

So, putting the values above:

Cash flow to stockholders = $126 - $81

Cash flow to stockholders = $45

4 0
2 years ago
What is artificial selection
rusak2 [61]

Artificial selection is the intentional reproduction of individuals in a population that have desirable traits. In organisms that reproduce sexually, two adults that possess a desired trait — such as two parent plants that are tall — are bred together.

7 0
2 years ago
Read 2 more answers
Thrill Rides is considering adding a new roller coaster to its amusement park. The addition is expected to increase its overall
zepelin [54]

Answer:

C. ticket sales for the new coaster.

Explanation:

In the case when the sales is reduced for the boat rise so the new rise would decrease the sales of the boat ride.

in the case when the food cost would be increase so if the sales of the food rises so automatically the food cost would rise

In the case when there is an extra sales for existing coaster, the same is mentioned in the given case

Therefore the option c is correct

4 0
2 years ago
Was the time period between 400ad and 1400ad a dark age for europe? was this a time of cultural decay and decline?
eduard

AD was a dark age and a period of cultural decay and decline for Europe because there was barely a government, harsh punishments, ignorant people, not a lot of land, and there was a lot of killing and diseases going around Europe that cause Europe to decline in population.

8 0
3 years ago
What does someone need to do before they can become certified, licensed, or registered?
konstantin123 [22]

school or expirence and the knowledge to do it and th ejob right


8 0
3 years ago
Read 2 more answers
Other questions:
  • Firm X is selling a vehicle with an MSRP of $30,000 and dealer discount of 10%. Unit cost is $20,000 and fixed costs are $1.4 bi
    7·1 answer
  • Suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is 7 percent
    7·2 answers
  • You bought a bond 8 years ago for​ $1,000. It has a​ $1,200 face value and a nominal annual bond rate of​ 10%, paid semiannually
    7·1 answer
  • Provide an example of software that may be used to maintain financial records, and identify advantages of using it over maintain
    14·1 answer
  • A family's ability to buy goods and services depends largely on its permanent income, which is its normal, or average, income. p
    13·1 answer
  • On february​ 1, a corporation has 30 comma 00030,000 shares of $ 1$1 par value common stock issued and outstanding. the corporat
    5·1 answer
  • Stor Manufacturing stores hazardous and volatile chemicals in its warehouse. The warehouse has state-of-the-art equipment to mak
    15·2 answers
  • What is the MAIN reason why some stores want to close on Thanksgiving?
    7·2 answers
  • What are resources in business studies
    7·1 answer
  • e-business is the exchange of goods and services among individuals, typically facilitated by a third party.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!