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lianna [129]
3 years ago
13

Meat Puppets Company purchased equipment for $7,200 on December 1. It is estimated that annual depreciation on the equipment wil

l be $1,800. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: Debit Depreciation Expense, $1,800; Credit Accumulated Depreciation, $1,800. Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150. Debit Depreciation Expense, $5,400; Credit Accumulated Depreciation, $5,400. Debit Equipment, $7,200; Credit Accumulated Depreciation, $7,200.
Business
1 answer:
Akimi4 [234]3 years ago
5 0

Answer: Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150

Explanation:

Depreciation is the decrease in fixed assets for use. At the end of each year the amount corresponding to the use of the assets is carried to accounting expenses, crediting the accumulated depreciation as a counterpart.

In this case it is only one month of depreciation, therefore if we know that annually the asset is going to depreciate US $ 1800, between twelve months it would be US $ 150, which would be due to expenses and credited to accumulated depreciation.

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for a monopolist: a. price equals average total cost. b. price is above marginal revenue. c. marginal revenue equals zero. d. ma
strojnjashka [21]

For a monopolist b. price is above marginal revenue.

<h3>What Is Marginal Revenue? </h3>

Marginal revenue can be regarded as  increase in revenue which is been gotten from  the sale of one additional unit of output.

As a monopolist that is the the only seller in the market, then their marginal revenue is usually above price because they don't have a competitor that is close enough.

Read more on Marginal Revenue here:

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8 0
2 years ago
Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,600. Budgeted cash rec
professor190 [17]

Answer:

Company should borrow = $15200

Explanation:

Below is the calculation for the borrowing amount:

Cash balance at the beginning = $18600

Add - Cash receipts = 186000

Less- Cash disbursements = (189200)

Budgeted cash balance = 18600 + 186000 - 189200 = 15400

Borrowing will be = Ending cash - 15400

Borrowing will be = 30600 - 15400

Borrowing will be = $15200

Company should borrow = $15200

6 0
3 years ago
One of the following is an example of managing earnings down (reducing earnings)?
malfutka [58]

Answer:

The answer is (C) Revising the estimated life of equipment from 10 years to 8 years.

Explanation:

Revising estimated life of equipment from 10 years to 8 years has the effect of increasing annual charge of depreciation.

8 0
3 years ago
What is an incentive
Anit [1.1K]
A thing that motivates or encourages someone to do something
4 0
3 years ago
Read 2 more answers
The cost to produce was $20 per unit in 2019. During 2020, it has increased to $23 per unit. In 2020, Supplier Company has offer
MaRussiya [10]

Answer: Differential cost is $5 per unit

Explanation:

Differential cost is the extra cost that the company would incur if they made the product themselves versus if they bought it from an outside supplier.

Differential cost is therefore:

= Cost to produce internally - Cost from supplier

= 23 - 18

= $5

<em>likely</em>

4 0
3 years ago
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