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STALIN [3.7K]
3 years ago
12

On January 1, 2021, the Dayton Auto Parts Company acquired nine identical assembly robots for a total of $594,000 cash. The robo

ts had an expected useful life of 10 years and an expected residual value of $54,000 in total. Dayton uses straight-line depreciation.1. What is the journal entry for the acquisition
Business
1 answer:
d1i1m1o1n [39]3 years ago
5 0

Answer:

the journal entry for the acquisition

Debit : Assembly Robots $594,000

Credit:  Cash $594,000

Explanation:

First, identify if the item is an asset, liability, equity or income. The assembly robots represents Assets as economic benefits will flow into the entity as a result of their use.

Next, assets are initially measured at their cost which is purchase price plus any costs directly related to placing the asset in the location and condition intended for use by management.

Cost of the Assembly Robots is $594,000

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Four basic steps are used in an ABC system. List the proper order of these steps, which are currently scrambled below:a. Identif
aliina [53]

Answer:

B) a, c, d, b

Explanation:

a. Identify the primary activities and estimate a total cost pool for each.

c. Select an allocation base for each activity.

d. Calculate an activity cost allocation rate for each activity

b. Allocate the costs to the cost object using the activity cost allocation rates

5 0
3 years ago
According to Shaw and Barry, companies clearly have what kind of obligation to provide a work environment in which employees are
MariettaO [177]

Answer:

Moral obligation

Explanation:

Moral obligation -

it refers to the obligation , that are due to the activity being right or wrong , is referred to as moral obligations.

It is due to activity being injustice or unfair , in term of any activity .

These obligations are present in any company , society and organisation , to help people from any type of unfair practice or harassment .

Hence , from the given information of the question,

The correct term is moral obligation .

5 0
3 years ago
If Patty Shoemaker estimates that her $400 weekly grocery bill will increase at an annual inflation rate of 5%, what should her
balu736 [363]

Answer:

the weekly grocery bill in 4 years is $486.2025

Explanation:

The computation of the weekly grocery bill in four years is shown below:

= Estimated amount × (1 + rate of interest)^number of years

= $400 × (1 + 0.05)^4

= $400 × 1.21550625

= $486.2025

hence, the weekly grocery bill in 4 years is $486.2025

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0
3 years ago
Which of the following is not a related party for constructive ownership purposes under § 267? a.The taxpayer's grandmother. b.A
ICE Princess25 [194]

Answer:

A). The taxpayer's aunt.

Explanation:

Constructive ownership is demonstrated as the allocation of stock ownership from one to another taxpayer by the integrity of their relationship. For example, the parents own the stocks of their children constructively. As per the section (c) of constructive ownership under § 267, the party that cannot be a related part for constructive ownership purposes would be 'the aunt' of the taxpayer as she is not related to the taxpayer with blood either half or whole. Thus, she would not have any ownership right over the stock or shares and hence, <u>option C</u> is the correct answer.

5 0
4 years ago
Bramble Corp. purchased a delivery truck for $38,800 on January 1, 2019. The truck has an expected salvage value of $1,800, and
Debora [2.8K]

Answer:

Depreciable cost per mile= $0.37

Explanation:

Giving the following information:

Purchase price= $38,800

Salvage value= $1,800

Expected to be driven 100,000 miles over its estimated useful life.

<u>To calculate the depreciable cost per mile, we need to use the following formula:</u>

Depreciable cost per mile= (original cost - salvage value)/useful life of production in miles

Depreciable cost per mile= (38,800 - 1,800)/100,000

Depreciable cost per mile= $0.37

6 0
4 years ago
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