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loris [4]
3 years ago
14

Oaktree Company purchased new equipment and made the following expenditures: Purchase price $ 45,000 Sales tax 2,200 Freight cha

rges for shipment of equipment 700 Insurance on the equipment for the first year 900 Installation of equipment 1,000 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
olganol [36]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below:

1. Equipment($45,000 + $2,200 + $700 + $1,000) $48,900  

                 To Accounts payable  $47,200    ($45,000 + $2,200)

                 To Cash  $1,700

(Being the equipment is purchased on cash and credit)

Since the equipment is purchased so it would be debited and the other two accounts i.e account payable and the cash is credited

2.Prepaid insurance $900  

              To Cash  $900

(Being the payment is recorded)

Since there is a prepaid insurance and the same is increased in assets so it would be debited and the cash is paid so it would be credited

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Discs and the Internet are unreliable and often slow, and there's nothing quite as distracting as "_____" in the middle of a pre
forsale [732]

Answer:

Discs and the Internet are unreliable and often slow, and there's nothing quite as distracting as "<u>having this issue</u>" in the middle of a presentation.

Explanation:

Presentation is often a formal talk or sharing of ideas about a topic which can be on any field, matter, discovery, product, to an audience.    

Since discs are used for optical storage, which allows data storage and data retrieval are very good to store information for presentation.

However, discs can be unreliable likewise the internet. As a disc is a computer hardware, it can be attacked by a computer virus thereby affecting the stored data, and the internet speed also varies across locations, all these can cause distractions in the middle of a presentation especially if one needs the disc and the internet to be able to render a presentation efficiently.

           

7 0
2 years ago
The Baldwin Company currently has the following balances on their balance sheet: Total Liabilities $135,759 Common Stock $52,705
LiRa [457]

Answer:

The correct option is the third one,$250,687

Explanation:

The key to ascertaining is accounting equation which that assets equal capital plus liabilities.

This implies that by determining the capital and liabilities,total assets sorted out.

  Common stock                                    $52,705

  *Retained earnings for the year          $62,223

Total equity and retained earnings     $114,928

total liabilities                                        $135,759

Total equity and liabilities                     $250,687

Total assets=total equity and liabilities=$250,687

Retained earnings for the year=prior year retained earnings+net profit-dividends paid

prior year retained earnings $40,723

net profit is $36,500

dividends is $15,000

*retained earnings for the year=$40,723+$36,500-$15,000=$62223

8 0
3 years ago
How can a person become a dentist​
Shtirlitz [24]

Explanation:

It generally takes eight years to become a dentist: four years to earn a bachelor's degree as an undergraduate and four years to earn a DDS or DMD in dental school. If you're interested in specializing, you'll also need to complete a dental residency (more on that below).

brainliest please

8 0
2 years ago
Backflush costing is a costing method that: Charges current production costs directly to finished goods inventory. Charges curre
pychu [463]

Answer:

Charges current production cost directly to work-in-process inventory

Explanation:

The blackflush costing is the costing method in which the present cost of production would be charged to the work in process inventory in a direct way

Therefore as per the given situation the second option is correct

ANd, the rest of the options are wrong as it does not meet the criteria

So the second option would be taken into consideration

7 0
3 years ago
Sam and Teresa run a catering business in which they have two major tasks: getting new clients and preparing food for events and
Sergio [31]

Answer:

The number of new clients will increase by

12/3 = 4

Therefore, the number of new clients will increase by 4.

Explanation:

In getting new client, Sam takes 5hours, while Terasa takes 3hours.

In preparing food, Sam takes 10hours while Teresa takes 12hours.

It can be seen that Sam has absolute advantage and comparative advantage in preparation of food, while Tesesa has absolute advantage and comparative advantage in getting new client.

Sam with the comparative advantage in food preparation will take over preparing food for one more event by taking the necessary time away from getting more clients, and Teresa will use the freed-up time from not preparing food for one event to get more clients.

Teresa will free up 12hours she used in the preparation of food.

Since she use 3hours to get new client, She will get

12/3, which equals 4 number of clients

8 0
3 years ago
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