Answer and Explanation:
In The books Of (Kingbird Inc.)
Journal Entry
<u>Date Account Title and Explanation Amount Amount</u>
Supplies Expenses a/c Dr $5,130
To Supplies a/c $5,130
(Being adjusted entry held for remain Supplies)
Working Note:
Amount = ($7,980 - $2,850) = $5,130
Answer:
The firm’s economic value added (EVA), that is, how much value did management add to stockholders’ wealth during 2018 is $0.42 million
Explanation:
Net operating profit = (22 million - 19 million)*(1 - 0.36)
= $1.92 million
EVA = net operating profit after taxes - invested capital*WACC
= 1.92 million - 15 million*0.10
= $0.42 million
Therefore, The firm’s economic value added (EVA), that is, how much value did management add to stockholders’ wealth during 2018 is $0.42 million
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Answer and Explanation:
1. Event Nature of expenditure
The capital expenditure is the expenditure which is incurred for one time or we can say it is spent on long term assets. While on the other hand, the revenue expenditure is expenditure which is incurred on frequent basis
Based on this, the treatment is as follows
i. Capital expenditure
ii. Revenue expenditure
iii. Revenue expenditure
iv. Capital expenditure
2. The Journal entry is shown below:-
a. Equipment Dr, $40,000
To Cash $40,000
(Being replacement of compressor is recorded)
Here we debited the equipment as it increased the assets and we credited the cash as it decreased the assets
b. Building Dr, $225,000
To Cash $225,000
Here we debited the equipment as it increased the assets and we credited the cash as it decreased the assets