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
Artist 52 [7]
3 years ago
13

Sandhill Company purchases an oil tanker depot on January 1, 2020, at a cost of $639,700. Sandhill expects to operate the depot

for 10 years, at which time it is legally required to dismantle the depot and remove the underground storage tanks. It is estimated that it will cost $69,980 to dismantle the depot and remove the tanks at the end of the depot’s useful life.
Prepare the journal entries to record the depot (considered a plant asset) and the asset retirement obligation for the depot on January 1, 2017. Based on an effective-interest rate of 6%, the present value of the asset retirement obligation on January 1, 2017, is $40,070.
Business
1 answer:
babymother [125]3 years ago
8 0

Answer:

Dr Depot $639,700

Cr Cash $639,700

Dr Depot $40,070

Cr Asset retirement obligation $40,070

Explanation:

Sandhill Company Journal entries

Dr Depot $639,700

Cr Cash $639,700

Dr Depot $40,070

Cr Asset retirement obligation $40,070

You might be interested in
Which dot plot shows three TV's in two houses? A dot plot titled How many T V's Are in Your House going from 0 to 4. 0 has 1 dot
JulijaS [17]

Answer:

The answer is "The first choice".

Explanation:

Please find the graph file of the given question:

In the given question the first choice is correct because in the graph it has 3 dots, which denotes the (tv's) in 2 that is equal to the two houses.

8 0
2 years ago
Read 2 more answers
A Six sigma (6s) approach to quality focuses on preventing defects by using customer feedback to reduce variation and waste. Gro
andre [41]

Answer:

False

Explanation:

Six sigma is a tool used by organizations to improve their processes and reduce defects, to improve quality of their products or services.

<u><em>It focuses on reducing variation in the business processes (from manufacturing, sales, delivery, to customer service), to reduce defects and increase the quality of goods and services</em></u><em>.</em> <em>It also generally improves organizational performance and increases profit.</em>

Six sigma does NOT focus on customers feedback to reduce variation and waste.

3 0
3 years ago
Which of the following phrases might be useful in writing the purpose statement for your formal report? Check all that apply. Th
Elina [12.6K]

Answer:

Hi

The report is a text written in prose with the objective of informing a specific reader or readers about the specific events or activities. The purpose of the report is to inform. However, the reports may include persuasive elements, such as recommendations, suggestions or other conclusions that indicate possible future actions that the reader of the report could take. It must have the following characteristics:

-It must be an expository text.

-It must be an explanatory text.

-Its purpose is to give information on research results.

-You should focus on a specific topic.

-You must use an objective language.

-You must write in the third person.

-Its predominant structure is the enunciative.

-In this type of texts there is also an argumentative structure.

-In these reports the descriptive structure appears because facts are described.

Explanation:

6 0
3 years ago
Crackling Fried Chicken bought equipment on January 2, 2016, for $21,000. The equipment was expected to remain in service for fo
rjkz [21]

Answer:

Please see attachment

Explanation:

Please see attachment

5 0
3 years ago
Who dismissed congress's plan to spend $40 billion to end the depression, saying it was impossible to "squander our way to prosp
Blababa [14]

The answer is President Herbert Hoover. His approach to depression were:

1.       He tried to restore confidence in the economy by asking business not to cut payrolls and labor not to ask for higher wages. Most of them initially agreed until 1931.

2.       He also cut taxes and pressed the Federal Reserve Board to cut interest rates to make borrowing easier.

3.       He procured $2 billion for public works projects.

4.       He established the Reconstruction Finance Corporation and the Home Loan Bank Act to assist businesses and head off some foreclosures but he was a fiscal conservative who said we couldn't "squander our way to prosperity," and so he disparate further spending plans.

3 0
3 years ago
Read 2 more answers
Other questions:
  • i'm doing a speech about why people give up and why they shouldnt give up what should my attention getter and my main points be?
    6·1 answer
  • Suppose a basket of goods and services has been selected to calculate the consumer price index (CPI) and 2002 has been chosen as
    8·1 answer
  • The budget that estimates a firm's projected cash inflows and outflows, as well as cash shortages or surpluses during a given ti
    5·1 answer
  • Navy Corporation has E&amp;P of $240,000. It distributes land with a fair market value of $70,000 (adjusted basis of $25,000) to
    14·1 answer
  • Personal values and work values cannot be related. Please select the best answer from the choices provided T F
    10·2 answers
  • Which department manages the process of converting or transforming resources into goods or services?
    13·1 answer
  • Calculate the value of a bond that matures in 12 years and has a $ 1 comma 000 par value. The annual coupon interest rate is 13
    8·1 answer
  • 2017 2016 (a) Accounts receivable $ 175,000 $ 140,000 (b) Retained earnings 30,000 (14,000 ) (c) Sales revenue 855,000 750,000 (
    5·1 answer
  • Easy career class question
    5·2 answers
  • Brandon is a college freshman who dreams of managing a chain of national hotels. Which job would best help him achieve his goal?
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!