Answer:
Date Journal entries Debit Credit
Jan 02 Machine $ 2,40,000
Cash $2,40,000
(To record purchase of machine)
Jan 03 Machine $ 6,000
Cash $6,000
(To record payment to make machinery
fit for working)
Jan 03 Machine $ 1,200
Cash $ 1,200
(To record payment for machine)
All cost paid to make machinery ready for use will be considered as cost of machine.
Step-by-step explanation:
Calculation of cost of machinery
Purchase of machine 240,000
Wire charges 6,000
Additional charges 1,200
Total cost 247,200
Calculation of depreciation
Depreciation = (Cost - salvage value)/ useful years of life
=(247200-28800)/ 6
=36400
Straightline depreciation method
Opening asset value 247200
Depreciation for 6 years
(36400*6) (218400)
Final asset value balance 28800
If you would like to write the prime factorization of 72, you can do this using the following steps:
72 / 2 = 36
36 / 2 = 18
18 / 2 = 9
9 / 3 = 3
3 / 3 = 1
72 = 2 * 2 * 2 * 3 * 3 = 2^3 * 3^2
The correct result would be <span>2 * 2 * 2 * 3 * 3</span>.
<span>1/3, 1/4, 1/8
The answer given is not the only possible answer. You need to come up with 3 different fractions so that the LCD (least common denominator) So first, determine the prime factors of 24.
24 = 2 * 2 * 2 * 3
Now you want some denominators that will need all of those prime factors. For the above list of 3, 4, 8, only the 3 and 8 are important, since one of them uses the prime factor of 3 and the other uses 3 prime factors of 2, so the LCD for those 2 numbers is 24. The 3rd denominator could be almost anything that uses some combination of prime factors 2,2,2,3 such as 1/2, 1/4, 1/6, 1/12, etc. I just happened to pick 1/4. The only real restriction is that none of the denominators can use any extra prime factors. If they did. then the resulting LCD would not be equal to 24.</span>
The answer to number one is A
