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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

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Answer:

Given,

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Q = \sqrt{\frac{2DS}{H(1-\frac{D}{P})}}=\sqrt{\frac{2\times 12500\times 49}{0.15(1-\frac{12500}{31500})}}=3679.60238126\approx 3680

(ii) Average holding cost per year,

=\frac{QH}{2}(1-\frac{D}{P})

=\frac{3680\times 0.15}{2}(1-\frac{12500}{31500})

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(iii) Average setup cost per year,

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(iv) Total cost per year = average setup cost per year + average holding cost per year + cost to purchase 12500 lights

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= $ 12207.92

7 0
3 years ago
Monopolist can produce at a constant average​ (and marginal) cost of
ankoles [38]
A monopolist can produce at a constant average (and marginal<span>) </span>cost of<span> AC = MC = $5</span>
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3 years ago
If a portfolio had a return of 11 the risk-free asset return was 6, and the standard deviation of the portfolios excess returns
Sindrei [870]

The premium would be 5%

If a portfolio had a return of 11 the risk-free asset return was 6, and the standard deviation of the portfolios excess returns was 25 the premium would be 5%

Portfolio return = 11%

Risk free rate = 6%

Risk premium = Portfolio return - Risk free rate

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So, the premium would be 5%

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4 0
1 year ago
Freytag Corporation's variable overhead is applied on the basis of direct labor-hours. The company has established the following
Serjik [45]

Answer:

a. -$783 Unfavorable

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Explanation:

a. The computation of Variable Overhead Rate Variance is shown below:-

Variable Overhead Rate Variance = Actual hours × (Standard Variable Overhead rate per hour - Actual Variable Overhead rate per hour)

= 8,700 × ($4.10 - ($36,540 ÷ 8,700)

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b. The computation of Variable Overhead Efficiency Variance is shown below:-

Variable Overhead Efficiency Variance = Standard Variable Overhead Rate per Hour ×  (Standard Hours for Actual Production - Actual Hours)

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5 0
3 years ago
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PtichkaEL [24]

Answer:

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y = $80,000

Therefore, the initial cost of the asset was $80,000

7 0
3 years ago
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