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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

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Securities issued by all of the following organizations are exempt from the registration requirements of the 1933 Securities Act
ss7ja [257]

Answer:

C. State and local governments

Explanation:

Securities are commercial debts or equity instruments sold to investors in the financial markets. Public-listed corporations or the government may issue securities as a way of raising capital.  The Securities Act of 1933 requires securities registered with the SEC and abide by the other provisions in the act, such as full disclosure of financial information.

However, not all securities issued must be registered with the SEC.  Exemptions are granted to certain types of securities. Financial instruments issued by or having government backing are considered to have the exception status.

3 0
2 years ago
An investment adviser representative may describe dollar cost averaging to a customer as:______
grigory [225]

To buy a certain security using dollar cost averaging, an investor must make regular payments (let's say monthly) of a set dollar amount (let's say $100 per month).

<h3> What is dollar cost averaging?</h3>

The practice of investing a set dollar amount on a regular basis, independent of the share price, is known as dollar cost averaging. It's a terrific method to form a disciplined investing habit, increase your investment efficiency, and possibly reduce your stress—as well as your expenses.

Say you put $100 away each month. Your $100 will buy fewer shares when the market is up, but more shares when the market is down. While compared to what you would have paid if you had purchased all of your shares at once when they were more costly than the average, this technique may eventually lower your average cost per share.

To know more about 'Dollar cost averaging', visit:brainly.com/question/14776694

#SPJ4

5 0
1 year ago
Dock Corporation makes two products from a common input. Joint processing costs up to the split-off point total $33,600 a year.
Alex Ar [27]

Answer:The minimum amount is the price that will give a profit of $3700

Explanation:

The minimum amount the company should accept for product X if it's to be sold at the split off point it's maximum amount they will earn as profit if they sales after further procession.

The total cost the company will incur if they process further it's the cost they incurred at the split off point and at further procession which equals ($16,800+$15,000) =$31,800

On sales after procession they will earn a price of $35500 which means a profit of $3700 this means the firm should sale product X at spilt off point for a price that will bring a minimum profit of $3700.

6 0
3 years ago
Your Competitive Intelligence team reports that a wave of product liability lawsuits is likely to cause Digby to pull the produc
anzhelika [568]

Answer:

The total capacity of the market in core products less the Digby's Deft is 10860 thousand units.

Explanation:

In order to completely answer the question, the complete question is found online. This question was missing some table attachments which are attached with it.

From the table, it is first noted that the core products are listed which are as below:

  1. Axe
  2. Bolt
  3. Buzz
  4. Deft
  5. Dim

Now as mentioned in the question, deft is to be ignored so the remaining options are:

  1. Axe
  2. Bolt
  3. Buzz
  4. Dim

Now the capacities of these are included which are found from the table and are as follow:

Axe=2050

Bolt=1040

Buzz=1040

Dim=1300

So the total capacity of 1 shift is

Axe+Bolt+Buzz+Dim=2050+1040+1040+1300=5430 units

As there are two shifts running so the total capacity is 5430x2=10860

So the total capacity of market in core products less the Digby's Deft is 10860 thousand units.

3 0
2 years ago
Which way of preparing for a test does not use the Growth Mindset?
Artyom0805 [142]

Answer: I know that I'm not great at tests, so I'm not going to worry about studying a lot.

Explanation:

The Growth Mindset is a principle that describes the mindset of believing that one can get better. It is the belief that your basic skills can be horned to be better by constantly working towards it.

The person in Option B who said that they won't study because they know they are not very good at tests does NOT have the growth mindset because they are not interested in improving themselves at all. They have made up their mind that they are not very good at something and so will just leave it as it is. This is called a FIXED MINDSET.

7 0
3 years ago
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