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
Tju [1.3M]
3 years ago
15

On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. The equipment had accumulated depreciation o

f $16,000 at December 31, 2018. Annual depreciation on this equipment is $2,000 computed using straight-line depreciation. Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
pashok25 [27]3 years ago
7 0

Answer:

journal entry  are given below

carrying value = $4000 and cash received is $2000

Explanation:

given data

delivery van cost = $20,000

accumulated depreciation = $16,000

Annual depreciation  = $2,000

solution

journal entry  are

date                              title                                          debit          credit

December 29, 2019    Cash                                        $2000

                                   Accumulated depreciation      $16000

                                   Delivery van                                                  $20000

note that

here carrying value is = $20000 - $16000

carrying value = $4000

and cash received is $2000

You might be interested in
Crandle Corp. applies manufacturing overhead costs to products at a budgeted indirectminuscost rate of $ 100 per direct manufact
katen-ka-za [31]

Answer:

total product costs  =   $101750

Explanation:

given data

overhead costs = $ 100

Direct materials of $41,000

direct manufacturing labor  = 450

per​ hour = $35

markup rate = 30 %

solution

we get here total product costs  that is express as

total product costs  = Direct materials + DML + MOH ..........1

total product costs  = $41,000 + ( 450 × $35 ) + ( 450  × $100 )

total product costs  =  $41,000 + $15750 + $45000

total product costs  =   $101750

4 0
3 years ago
Seahorse Incorporated, which only has one product, has provided the following data concerning its most recent month of operation
ra1l [238]

Answer:

Unit product cost = $107

Explanation:

<em>Absorption costing is a method of costing where production units and inventories are value at the full cost per unit. Here, fixed overheads are charged to all units produced using an overhead absorption rate</em>

The full cost per unit = D.mat cost + D.labour cost + Variable overheads+ Fixed overheads

Fixed production overhead cost per unit

=Fixed manufacturing overhead/units produced

=  $43,700/ 1,900 Units

=$23 per unit

Full cost per unit

= $42  + $31 + $11 + 23

= $107

7 0
3 years ago
Suppose a country spiraled into economic recession. What would John Maynard Keynes recommend to fight the recession?
zubka84 [21]

John Maynard Keynes will recommend an increase in government expenditures and lower taxes to stimulate demand to pull the economy out of the recession..

John Maynard Keynes is an economist who was popularly known for creating the Keynesian theory of economics

The Keynesian theory of economics is one who who advocate for saving less and spending more, thereby, raising their marginal propensity to consume and economic growth.

Now, supposing that a country spiraled into economic recession, John Maynard Keynes will recommend an increase in government expenditures and lower taxes to stimulate demand and pull the economy out of the recession..

Learn more about this here

<em>brainly.com/question/6815540</em>

3 0
2 years ago
Plzz help! What is a sure way to boost sales? Question 7 options: Advertise. Offer a 100% guarantee. Run contests. Give away pro
Vikentia [17]

I am not sure but in my opinion it would be to offer a 100% guarantee.

6 0
3 years ago
Read 2 more answers
The management at Slick Automotive has replaced their outdated marketing approach with an approach that emphasizes relationship
matrenka [14]

Answer:

FALSE                                        

Explanation:

Relationship marketing refers to the technique aimed at promoting customer relationships, communication and lengthy-term commitment. It is intended to build good consumer relationships by presenting them with knowledge that is specifically tailored to specific needs and requirements, and by enabling open lines of communication.

Thus, from the above we can conclude that the given statement is false as the company will focus on all of its customers under such strategy.

6 0
3 years ago
Other questions:
  • Maggie’s mom agrees to let Maggie buy small gifts for some of her friends. Each gift costs $4. Maggie’s mom gave her a budget of
    10·1 answer
  • _________ payments are known as lump sums. We can solve for the future value or the present value of a lump sum as we discuss be
    6·1 answer
  • What can the government of a relatively poor country do to promote economic prosperity? check all that apply. encourage transmis
    12·2 answers
  • Which of the following is most likely to characterize a fascist regime? Select one: a. a strong respect for human rights b. tole
    11·1 answer
  • Prepare traditional and contribution margin income statements (Learning Objective 6) The Willowick Ice Cream Shoppe sold 8,700 s
    9·1 answer
  • Your firm needs a computerized line-boring machine that costs $90,000 and requires $16,000 in maintenance costs for each year of
    14·1 answer
  • The bureau of labor statistics has identified four leading causes of workplace deaths in the construction industry what are thes
    6·1 answer
  • When a company wishes to use ipv6 and needs a global routing prefix, to whom does the request go directly?
    9·1 answer
  • Walnut has forecast sales for the next three months as follows: July 4,900 units, August 6,900 units, September 8,000 units. Wal
    11·1 answer
  • Find the no-arbitrage cross exchange rate. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dollar-yen exchange
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!