Answer:
$7,500
Explanation:
Calculation for the Depreciation of rah second year of the asset's life
Second year depreciation=(1/8 years*2)*[($40,000)-(1/8 years*2* $40,000)]
Second year depreciation=(0.25)*[($40,000)-(0.25*$40,000)]
Second year depreciation=(0.25)*[($40,000-$10,000)]
Second year depreciation=0.25*$30,000
Second year depreciation=$7,500
Therefore the Depreciation of rah second year of the asset's life using the double-declining-balance method is: $7,500
The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.
<h3>Journal entry</h3>
Based on the information given the correct entry to record this transaction is:
Debit Cash $1313
{$1300+[($1300×4%)-($1300×3%)]}
[$1300+($52-$39)]
Debit Sales Discount $39
($1300×3%)
Credit Accounts Receivable $1352
[$1300 + ($1300×4%)]
Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.
Learn more about journal entry here:brainly.com/question/9701045
Answer:
29.71 per machine-hour
Explanation:
Buker corporation has an estimated machine hours of 74,000
The estimated variable manufacturing overhead is 7.67 per-machine hour
The estimated total fixed manufacturing overhead is $1,630,960
The first step is to calculate the estimated overhead cost
= (74,000×7.67) + $1,630,960
= 567,580 + $1,630,960
= $2,198,540
Therefore, the predetermined overhead rate can be calculated as follows
Predetermined Overhead rate= Estimated manufacturing overhead cost/Estimated machine hours allocated
= $2,198,540/74,000
= 29.71 per machine-hour
Hence predetermined overhead rate for the recently completed year was closest to 29.71 per machine-hour
Answer:
$445,000
Explanation:
The rent in Volusian company income statement for 2016 is $420,000
The prepaid rent is $70,000 at December 31 2015 and $95,000 at December 31 2016
Therefore the cash paid for rent in 2016 can be calculated as follows
= $420,000+($95,000-$70,000)
= $420,000 + $25,000
= $445,000
