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Semenov [28]
3 years ago
6

Meat Puppets Company purchased equipment for $7,200 on December 1. It is estimated that annual depreciation on the equipment wil

l be $1,800. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:
Business
1 answer:
Arte-miy333 [17]3 years ago
3 0

Answer:

b. Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150.

Explanation:

The adjusting entry is as follows

Depreciation expense Dr - Equipment

            To Accumulated depreciation

(Being the depreciation expense is recorded)

The computation is shown below:

= $1,800 ÷ 12 months

= $150

We simply debited the depreciation expense and credited the accumulated depreciation for $150 so that the proper posting could be done

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<u>Solution and Explanation:</u>

<u>Journal entry to record the purchase the bags of insultaion.</u>

Date            Particulars                                  Debit                       Credit

                 Inventory                                       $6875

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<u>entry to record the payment for shipping</u>

                Inventory                                          $320

                   cash                                                                           $320

( paid shipping charges for bags to warehouse)

<u>entry for return of the defective bags</u>

              accounts payable                                 $275

                   Inventory                                                                       $275

( returned defective bags to glassco Inc)

<u>To record the payment for the bags kept by compass.</u>

          Accounts payable                                        $6600

            cash                                                                                           $6600

( payment for remaining bags to Glassco Inc., )

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What is the principle of the law of supply?
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During January, the solar cell factory begins 57,000 solar cells, and completes 53,000 of them. The remaining 4,000 solar cells
pogonyaev

Answer:

"2000 units" is the right solution.

Explanation:

The given values are:

Transferred from WIP,

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