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Ymorist [56]
3 years ago
5

Martinez Company has an old factory machine that cost $66,000. The machine has accumulated depreciation of $36,960. Martinez has

decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
brilliants [131]3 years ago
8 0

Answer:

Journal entries

Explanation:

The journal entries are as follows

(a) Cash A/c Dr $33,000

   Accumulated depreciation A/c Dr $36,960

            To Factory machine A/c $66,000

            To Profit on sale of factory machine A/c $3,960

(Being the sale of machinery is recorded and the remaining balance is credited to the profit on sale of factory machine account)

(b) Cash A/c Dr $19,800

    Loss on sale of factory machine A/c $9,240

    Accumulated depreciation A/c Dr $36,960

            To Factory machine A/c $66,000

(Being the sale of machinery is recorded and the remaining balance is debited to the loss on sale of factory machine account)

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Multiple Select Question Select all that apply Which of the following are facility-level activities? Human resource hiring fairs
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The full question is:

Which of the following are facility-level activities? (select all that apply)

a. Paying factory insurance

b. Setting up factory equipment

c. Arranging for shipping products to a customer

d. Property taxes on plant

Answer:

Paying factory insurance

Property taxes on plant

Explanation:

Facility level activities are defined as those activities that cannot be traced to a particular product, but are carried out to maintain the general operations of a business. They are also called business sustaining activities.

Examples include depreciation, cost of security, cost of maintenance and taxes.

These activities need to be executed seamlessly by the business if they want to maintain efficiency of the production process. For example if machines are not maintained according to maintenance schedule, they can breakdown and cause delays in production.

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3 years ago
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Answer:

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Explanation:

i think

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2 years ago
The primary difference between the capital adequacy ratio (car) and the leverage ratio (lr) is?
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3 years ago
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Answer:

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2. Hilary gets a new video camera made in the United States: included in Consumption (C) account.

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