Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2012. It has been depreciated using the straight-lin
e method based on an estimated salvage value of $5,000 and an estimated useful life of 5 years. InstructionsPrepare Pryce Company's journal entries to record the sale of the equipment in these four independent situations. (a) Sold for $31,000 on January 1, 2015. (b) Sold for $31,000 on May 1, 2015. (c) Sold for $11,000 on January 1, 2015. (d) Sold for $11,000 on October 1, 2015
Monthly depreciation is calculated as follows: 65,000 (Cost) – 5,000 (Salvage Value) ÷ 60 (5 years X 12 months per year) = 1,000 in depreciation per month.
a) Accumulated depreciation from 1/1/12 to 1/1/15 is 36,000 (12 months for 2012, 2013, & 2014). Assuming that sale was a Cash sale, the journal entry would look like this: 1/1/15 Cash (DR) 31,000 Accumulated Depreciation (DR) 36,000 Equipment (CR) 65,000 Gain on Sale of Equipment (CR) 2,000
b) Accumulated depreciation from 1/1/12 to 5/1/15 is 40,000 (12 months for 2012, 2013, 2014, & 4 months for 2015). Assuming that sale was a Cash sale, the journal entry would look like this: 5/1/15 Cash (DR) 31,000 Accumulated Depreciation (DR) 40,000 Equipment (CR) 65,000 Gain on Sale of Equipment (CR) 6,000
c) Accumulated depreciation from 1/1/12 to 1/1/15 is 36,000 (12 months for 2012, 2013, & 2014). Assuming that sale was a Cash sale, the journal entry would look like this: 1/1/15 Cash (DR) 11,000 Accumulated Depreciation (DR) 36,000 Loss on Sale of Equipment (DR) 18,000 Equipment (CR) 65,000
d) Accumulated depreciation from 1/1/12 to 10/1/15 is 45,000 (12 months for 2012, 2013, 2014, & 9 months for 2015). Assuming that sale was a Cash sale, the journal entry would look like this: 10/1/15 Cash (DR) 11,000 Accumulated Depreciation (DR) 45,000 Loss on Sale of Equipment (DR) 9,000 Equipment (CR) 65,000
To find out the percent of robots which are defective, divided the number of defective robots by the total number of robots and multiply the result by 100
Newborn males have weights with a mean of 3272.8 g and a standard deviation of 660.2 g.
So, the z-score for the newborn male who weighs 1500 g will be.......
According to the normal distribution table,
Now, newborn females have weights with a mean of 3037.1 g and a standard deviation of 706.3 g.
So, the z-score for the newborn female who weighs 1500 g will be.......
According to the normal distribution table,
As we can see that the <u>probability that a newborn female has weight of 1500 g is greater than newborn male</u>, so a newborn female has the weight of 1500 g that is more extreme relative to the group from which he came.