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lubasha [3.4K]
3 years ago
7

Downs Tax Planning Service bought communications equipment for $9,600 on January 1, 2017. It has an estimated useful life of fiv

e years and zero residual value. Downs uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. As of June 30, 2017, the balance in the Accumulated Depreciation account for this equipment is ________.
Business
1 answer:
MaRussiya [10]3 years ago
3 0

Answer:

$960

Explanation:

For computing the accumulated depreciation, first we have to compute the depreciation expense which is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($9,600 - $0) ÷ (5 years)

= ($9,600) ÷ (5 years)  

= $1,920

This is a full year depreciation but we have to find out for June 30,2017 i.e 6 months

= $1,920 ÷ 12 months × 6 months

= $960

The same is recorded as an accumulated depreciation

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RUDIKE [14]

As a result of the record amount of grapes, the equilibrium price decreases while the equilibrium quantity increases. Please find attached the required graph.

<h3>What is the impact of the record amount of grapes?</h3>

If there is a record amount of grapes produced, the amount of wine produced would increase. This is because grapes are an input used in the production of wine.

As a result, the supply of wine would increase. This would lead to a shift to the right of the supply curve for wine. the equilibrium price decreases while the equilibrium quantity increases.

To learn more about supply curves, please check: brainly.com/question/26073189

3 0
2 years ago
Mott Company's sales mix is 3 units of A, 2 units of B, and 1 unit of C. Selling prices for each product are $34, $44, and $54,
Airida [17]

The break even point in composite units is 5000 units.

Break even point

The Break-even point  is calculated by dividing the fixed cost by the contribution margin per unit.

For this sales mix, the contribution margin per unit is the aggregate of each contribution margin. Contribution margin is calculated by subtracting variable cost from the selling price  

Contribution margin  for A is $20- $12 = $8  x 3 units

Contribution margin for B is  $ 30 - $18 = $12 x 2 units

Contribution margin for C is $40 -$24= $16  x 1 unit

Total contribution margin per unit will be

(8 x 3) x (12 x 2 ) x( $16 x 1)= $64

Break-even point = $320,000 /64

Learn more about break even point here :

brainly.com/question/15356272

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7 0
2 years ago
McKinnon Enterprises owns a professional ice hockey team, the Rockford Penguins. The company sells season tickets for its upcomi
lesantik [10]

Answer:

$320,000

Explanation:

Since the season starts in January and lasts until June, by April 30 the balance of the deferred revenue (or unearned revenue account) would be =  $960,000 - {($960,000 / 6) x 4} = $960,000 - $640,000 = $320,000

The journal entries should be:

Accumulated tickets until December 31

Dr Cash 960,000

   Cr Deferred (Unearned) revenue 960,000

By April 30th, the adjusting entry should be:

Dr Deferred (Unearned) revenue 640,000

    Cr Ticket revenue 640,000

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3 years ago
Where could an identity theft access your personal information?
lisov135 [29]
C is correct answer ......
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3 years ago
Metallica Bearings, Inc., is a young start-up company. It announces that it will pay no dividends on its stock over the next nin
LiRa [457]

Answer:

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Explanation:

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3 years ago
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