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dalvyx [7]
2 years ago
11

Journalize the following transactions.a. On December 1, $13,250 was received for a service contract to be performed from Decembe

r 1 through April 30. b. Assuming the work is performed evenly throughout the contract period, journalize the adjusting entry required on December 31.
Business
2 answers:
julsineya [31]2 years ago
7 0

Answer:

On December 1

$18000 To unearned revenue AC

Explanation:

$18000÷5months

=$3600

irakobra [83]2 years ago
4 0

Answer:

hello didi the code on their own lives r

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Harvey Automobiles uses a standard part in the manufacture of several of its trucks. The cost of producing 60,000 parts is $160,
Bas_tet [7]

Answer:

$55,000

Explanation:

The computation of the change in operating income is shown below:

= Buying cost - making cost

where,

Buying cost = Cost of producing parts × outside supplier per unit

                    = 60,000 parts × $3

                    = $180,000

And, the making cost would be

= Variable cost + fixed cost × given percentage

= $110,000 + $50,000 × 30%

= $110,000 + $15,000

= $125,000

So, the operating income would be

= $180,000 - $125,000

= $55,000

3 0
3 years ago
On October 1, 2022, Ivanhoe Company places a new asset into service. The cost of the asset is $87500 with an estimated 5-year li
Dimas [21]

Answer:

$3150

Explanation:

Given:

Cost of the asset purchased = $87500 (on 1st October. 2022)

Salvage value at the end of its useful life = $24500

Useful life estimated = 5 years

Question asked:

What is the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation?

Solution:

<u>As we know:</u>

Straight-Line\ Depreciation\ Expense=\frac{Cost\ - Salvage\ Value}{Useful\ Life\ of\ the\ Asset}

                                                               =\frac{87500-24500}{5} =\frac{63000}{5} =12600

Depreciation expenses per year = $12600

But we have to find depreciation expenses for 2022 for:-

From 1st October, 2022 to 31st December, 2022 = 3 months.

<em><u>Straight-Line Depreciation Expense for Partial Year = </u></em>

<em><u /></em>D\times\frac{N}{12} \\\\ D=Depreciation\ expense\ for\ a\ complete\ year.\\N= Number\ of\ months\ during\ which\ the\ fixed\ asset\ was\ available\ for\ use

Depreciation Expense for 3 months = 12600\times\frac{3}{12} =\frac{37800}{12} =3150

Therefore, the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation is $3150.

                                                             

5 0
3 years ago
Which of the following statements regarding the staffing budget is true? a.The staffing budget is based on the desired profit le
Valentin [98]

Answer:

b.The staffing budget is based on a fixed human resources budget

Explanation:

  • The staffing budget is the budget that outlines a money plan to be spent on the employees and consists of the largest investment to the organization.
  • It acts as an outline plan for the service companies each staff member corresponds to the salary for the employee in the spreadsheet on a weekly, monthly, and yearly basis.
8 0
3 years ago
Analyze and evaluate the ways that both external and internal migration changed over time from 1830 to 1920.
Verizon [17]

Answer:

See explanation below.

Explanation:

It is important to note that from 1830-1900 migration in America increased especially on the coasts with immigrants who came from other countries in search of a better life. We will show some of the most important events associated with external and internal migration.

External migration increased by the discovery of gold on the west coast and opportunities across the country. In 1982 there was an important event called "Chinese exclusion law", this was the first law implemented to prevent all members of a specific ethnic group (Chinese women) from immigrating in the United States.

Internal migration was influenced by the mining industry throughout the country, the discovery of gold and silver. The native people of America moved from their original land to another. Another important event was "The Homestead Act" in 1862, with this the government provided any adult citizen who could stay for 5 years an amount of 160 acres for the cultivation of this land

7 0
3 years ago
The first budget customarily prepared as part of an entity’s master budget is the blank____________ .
Andreyy89

Answer: sales budget

Explanation:

The first budget customarily prepared as part of an entity’s master budget is the sales budget.

Sales budget is simply financial plan, that shows how resources will have to be distributed in order for the predicted sales to be achievable.

4 0
3 years ago
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