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Alex787 [66]
3 years ago
11

Metro Company trades its used machine for a new model at Denver Solutions Inc.

Business
1 answer:
zalisa [80]3 years ago
4 0

Answer:

Cost of new machine:

= List price of new machine - Trade allowance + Fair value of old machine

= $16,000 - $9,000 + $6,000

= $13,000

Therefore, the journal entry is as follows:

Cost of new machine A/c                                Dr. $13,000

Accumulated depreciation (Book Value) A/c Dr. $4,000

Loss on exchange of machine A/c                  Dr. $2,000

         To Old Machine (Book Value)                                  $12,000

         To Cash (16,000 - 9,000)                                          $7,000

(To record the machine exchange)

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a fish is 4 feet below sea level and a Fisherman is standing on a dock that is 5 feet above sea level. How far apart are the fis
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The answer is 1 level apart because 4-5=1 and 5 is 1 more up than 4
8 0
2 years ago
Betram Chemicals Company processes a number of chemical compounds used in producing industrial cleaning products. One compound i
Dmitry [639]

Answer:

Betram Chemicals Company

1. Relevant benefits and costs for each alternative:

                             Sale at split-off         Sale after

                                                       further processing

Revenue                   $129,420            $238,620

Joint Costs                   73,000                 73,000

Cost for further processing -                   42,000

Gross profit               $56,420             $123,620

Additional profit         $0                       $67,200

2. Further processing of Anderine is more cost-effective by $67,200.

3. Further processing of Anderine is still better by $60,760.

Explanation:

a) Data and Calculations:

                                   Anderine     Dofinol      Cermine   Total Costs

Gallons                         5,600          7,600       $73,000     $73,000

Selling price per gal.  $13.00          $7.45

Sales revenue           $72,800     $56,620                        $129,420

Gross profit                                                                          $56,420

Further processing                                         $42,000

Total costs of production                              $115,000      $115,000

Output                      (5,600)            7,600         2,800

Selling price per gallon                    $7.45         $65

Sales revenue                              $56,620     $182,000 $238,620

Gross profit                                                                        $123,620

Profit from further processing:

Gross profit with further processing  $123,620

Gross profit before further processing 56,420

Additional profit                                   $67,200

1. Relevant benefits and costs for each alternative:

                             Sale at split-off         Sale after

                                                       further processing

Revenue                   $129,420            $238,620

Joint Costs                   73,000                 73,000

Cost for further processing -                   42,000

Gross profit               $56,420             $123,620

Additional profit         $0                       $67,200 ($123,620 - $56,420)

What if:

Purchasing order cost (5,600/500 * 20 * $10) = $2,240

Quality inspection cost (5,600/500 * 15 * $25) = $4,200

Additional costs = $6,440

Reduced additional profit = $60,760 ($67,200 - $6,440)

4 0
2 years ago
Zach will be using powerpoint in a speech he is giving to the local rotary club. according to your textbook, zach should
Aneli [31]

Answer:

d

Explanation:

considering I do not have the textbook, i cant be fully certain but I think its d. and if it's not d, then it's mostly like e. sorry for not being more helpful!

4 0
2 years ago
Machinery was purchased for $340,000. Freight charges amounted to $14,000 and there was a cost of $40,000 for building a foundat
Aleonysh [2.5K]

Answer:

$66,800

Explanation:

Depreciation is used in expensing the cost of an asset

Depreciation reduces the value of an asset

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

Cost = $340,000. + $14,000 + $40,000 = $394,000

($394,000 - $60,000) / 5 = $66,800

4 0
3 years ago
Horizontal Analysis Total assets were $1,000,000 in 2019, $900,000 in 2018, and $950,000 in 2017. What was the percentage change
Sergeeva-Olga [200]

Answer:

(a) Decreases by 5.3%.

(b) Increases by 11%.

Explanation:

Given that,

Total assets in 2019 = $1,000,000

Total assets in 2018 = $900,000

Total assets in 2017 = $950,000

Percentage change from 2017 to 2018:

= [(Total assets in 2018 - Total assets in 2017) ÷ Total assets in 2017] × 100

= [($900,000 - $950,000) ÷ $950,000] × 100

= (-$50,000 ÷ $950,000) × 100

= -0.053

= -5.3%

Therefore, the total assets from 2017 to 2018 decreases by 5.3 percent.

Percentage change from 2018 to 2019:

= [(Total assets in 2019 - Total assets in 2018) ÷ Total assets in 2018] × 100

= [($1,000,000 - $900,000) ÷ $900,000] × 100

= ($100,000 ÷ $900,000) × 100

= 0.11

= 11%

Therefore, the total assets from 2018 to 2019 increases by 11 percent.

7 0
3 years ago
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