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DIA [1.3K]
3 years ago
14

Juan Foods purchases a computer system in 2015 for $20,000. Its expected useful life is 5 years. At the end of 2015, it has to r

ecord depreciation on the computer system of $2,000. What is the correct journal entry to record the depreciation
Business
1 answer:
Iteru [2.4K]3 years ago
7 0

Answer:

A debit to Depreciation Expense

A credit to Accumulated Depreciation

Depreciation Expense          $2000

                            Accumulated Depreciation                        $2000

Explanation:

The purpose of depreciation is to achieve the matching principle of accounting. That is, a company is attempting to match the historical cost of a productive asset to the revenues earned from using the asset. It is difficult to precisely match the contribution of the asset to a company's revenues, so the asset cost is designated to the years in which the asset is used.  

The accounting entry is:

A debit to Depreciation Expense

A credit to Accumulated Depreciation

Depreciation Expense          $2000

                            Accumulated Depreciation                        $2000

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The ____________ is designed to account for cases in which the action or outcome is desired but not certain, and reflects the co
Oksanka [162]

The answer is trying-to-consume model.

The trying-to-consume model is intended to account for situations in which the action or outcome is wanted but not known, and it depicts the consumer's attempts to consume, whether successful or not.

What is trying-to-consume model?

  • Trying to consume, in general, focuses on a goal that a consumer seeks but may fail to pursue or attain due to various assumptions of abilities to reach the objective.
  • It comprises of a person's knowledge or impression of a few items or services based on personal experience or relevant information obtained from numerous sources. This information generally leads to consumer perceptions and particular action.

To learn more about  trying-to-consume model visit:

brainly.com/question/15323627

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5 0
2 years ago
A manager receives a request from an employee to take off a Wednesday for religious reasons. The manager did not know that this
boyakko [2]

Answer:

Yes

Explanation:

There is no federal law that requires that a manager give an employee days off due to religious reasons. Therefore in this scenario, the manager should investigate the situation further. If the manager finds out that the employee is taking advantage of the manager's generosity and lying then they should get reprimanded for doing so. Otherwise, the employee can have their day off as they asked.

5 0
3 years ago
If they spend all night writing computer programs, Laurence can write 10 programs, and Carrie Anne can write 5. If they spend al
nikitadnepr [17]

Answer:

B. Laurence; both programs and sunglasses

Explanation:

A person has absolute advantage in the production of a good or service If he produces more quantity of the good when compared to other people.

Lawrence produces more quantities of both programs and sunglasses (10,6) when compared with Carrie Anne (5,4)

I hope my answer helps you

7 0
4 years ago
A properly marked source document contains some Secret information. A new document does not contain the same information. Howeve
navik [9.2K]

Answer:

Revealed by.

Explanation:

Revealed is to make (previously unknown or secret information) known to others.

3 0
3 years ago
Assume that an investment in bonds classified as trading securities is sold. Which of the following would be included in the two
worty [1.4K]

Answer:

An update of the fair value adjustment account,

Removal of the related investment account balances

The total amount of gain or loss that has occurred since the securities were  purchased

Explanation:

The activities that occurred between the purchase and during the sales of bonds classified as trading securities will determine the entries to be recorded.

First, since it was an investment, it means, it had an entry already in the books. Its sales therefore, will mean the books needs to be updated and this will be done through the Fair value adjustment account.

Secondly in updating the fair value, there is the need to remove the related investment account balance. This is because the investment has been sold so it should not be reflected any more.

Thirdly, since the investment was bought at a point, carried for a while and then eventually sold, some gain or loss would have been generated between its acquisition and its sales, therefore the entry for total amount of gain or loss that occurred since the purchase should be made.

Part 4

The items such as the

4 0
3 years ago
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