Answer:
Depreciation (debit) $1,230
Accumulated Depreciation - Riding Mower (credit) $1,230
Explanation:
Straight Line Method of Depreciation, charges the same amount of depreciation over the useful life of the asset.
Depreciation Charge = (Cost - Residual Value)/ Useful Life
<em><u>2017</u></em>
Depreciation Charge = ($15,200 - $2,900)/ 10-years
= $1,230
<em>Recognize the depreciation expense to Profit and Loss and Accumulate the Depreciation Charge in Financial Statement through Accumulate Depreciation Account.</em>
Depreciation (debit) $1,230
Accumulated Depreciation - Riding Mower (credit) $1,230
Answer:
Cash (Debit) $2,000
Sales (Credit) $2,000
Cost of Merchandise Sold (Debit) $1,250
Merchandise Inventory (Credit) $1,250
Explanation:
Cash (Debit): Cash increase because it is a Cash Sale, cash increases by debit.
Sales (Credit): to register the sale, Sales(income) increases by credit
.
Cost of Merchandise Sold (Debit): to record the cost of the merchandise sold, the costs increase by debit.
Merchandise Inventory (Credit): to record the inventory output of the merchandise sold, inventory decreases by credit.
Answer: 5,745 units
Explanation:
Given that,
Plans to sell:
6,000 purple lawn chairs during May
5,700 in June
6,000 during July
company keeps 15% of the next month's sales as ending inventory
Units should Doe produce during June:
= Sales in June + Ending inventory (15% of July sales) - opening Inventory (15% of June sales)
= 5,700 + 900 - 855
= 5,745 units
Answer:
Since Store managers say they need same-day information on the company's advertising plans, store managers can email me directly for this information.
Explanation:
The situation at Swazzi is precarious since they are not selling the new line of sweater vests well enough to match their sales forecast.
Store managers who are interacting with the consumers at their different outlets will definitely try to find a way to drive sales, hence their request for same day advertising plans from the company.
Mitigating this short fall calls for escalating and responding to requests from the company and the store managers hence the need for a very fast and cost effective communication medium.
For swift communication between the company and store managers, it is okay for store managers to email their request directly and vice versa.
In a case whereby George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000.
<h3>What is
journal entry?</h3>
A journal entry can be described as an act of keeping which involves the making records of any transactions .
It should be noted that Transactions are listed in an accounting journal so that the company's debit as well as the credit balances of the company can be shown.
In the case, above , we will record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000, hence journal entry can encompass several recordings, in a debit or a credit.
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