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tatiyna
3 years ago
13

Dodson Company traded in a manual pressing machine for an automated pressing machine and gave $8,000 cash. The old machine cost

$93,000 and had a net book value of $71,000. The old machine had a fair market value of $60,000. Which of the following is the correct journal entry to record the exchange?
a. Equipment 68,000
Loss on Exchange 11,000
Accumulated Depreciation 22,000

Equipment 93,000
Cash 8,000

b. Equipment 68,000

Equipment 60,000
Cash 8,000

c. Cash 8,000
Equipment 60,000
Loss on Exchange 11,000
Accumulated Depreciation 22,000

Equipment 101,000

d. Equipment 123,000

Accumulated Depreciation 22,000
Equipment 93,000
Cash 8,000
Business
1 answer:
Tju [1.3M]3 years ago
4 0

Answer:

a. Dr Equipment 68,000

Dr Loss on Exchange 11,000

Dr Accumulated Depreciation 22,000

Cr Equipment 93,000

Cr Cash 8,000

Explanation:

Preparation of the correct journal entry to record the exchange

Based on the information given the correct journal entry to record the exchange will be

Dr Equipment 68,000

(60,000+8,000)

Dr Loss on Exchange 11,000

(71,000-60,000)

Dr Accumulated Depreciation 22,000

(93,000-71,000)

Cr Equipment 93,000

Cr Cash 8,000

(Being to record the exchange)

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A person or business that’s is a partial owner of a company

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Cane Company manufactures two products called Alpha and Beta that sell for $195 and $150, respectively. Each product uses only o
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Answer and explanation:

a.

the table below shows the impact of dropping beta product

Loss of Contribution Margin if Beta is Dropped (75,000*64) -$4,800,000

Traceable Fixed Manufacturing Overhead (123,000*33)          $4,059,000

Incremental Contribution Margin from Additional Alpha Sales (15,000*72)

                                                                                                        $1,080,000

Increase in Net Operating Income if Beta is Dropped          $339,000

Notes:

Contribution Margin Per Unit (Beta) = 150 (Selling Price) - 15 (Direct Material) - 28 (Direct Labor) - 20 (Variable Manufacturing Overhead) - 23 (Variable Selling Expenses) = $64 per unit

Contribution Margin Per Unit (Alpha) = 195 (Selling Price) - 40 (Direct Material) - 34 (Direct Labor) - 22 (Variable Manufacturing Overhead) - 27 (Variable Selling Expenses) = $72 per unit

check the attached files for additional details

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Which of the following items might require additional coverages on a Homeowners Policy?
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Answer:

B. two six-packs of Americana Beer.

Explanation:

A. a six-pack of Americana Beer.

B. two six-packs of Americana Beer.

C. $4 and the six-pack of Americana Beer.

D. $4.

six-pack of Americana Beer = $2

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1 six-pack of Bavarian Beer = $4

1 six-pack of Americana Beer = $2

2 six-pack of Americana Beer = $4

Therefore,

1 six-pack of Bavarian Beer = 2 six-pack of Americana Beer

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2 years ago
A publisher reports that 55% of their readers own a particular make of car. a marketing executive wants to test the claim that t
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