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horsena [70]
3 years ago
13

Do It! Review 9-2a On January 1, 2017, Salt Creek Country Club purchased a new riding mower for $17,500. The mower is expected t

o have a 10-year life with a $600 salvage value. What journal entry would Salt Creek make on December 31, 2017, if it uses straight-line depreciation
Business
1 answer:
andrezito [222]3 years ago
5 0

Answer:

Salt Creek should make a journal entry to record full one year depreciation expenses relating to the mower at 31st December 2017 as followed;

Dr Depreciation expenses - Machinery $1,690

--------Cr Accumulated depreciation - Machinery $1,690

Explanation:

Depreciation refers to the fall in the value of an asset. The annual depreciation expenses relating to Mower would be calculated as;

Annual depreciation expense = (Initial cost of Mower - Estimated salvage value) / Expected useful life.

= ($17,500 - $600) / $10

= $16,900 / $10

= $1,690

Since the Mower is purchased on January 1st, 2017, at 31st December 2017, Salt creek should make a entry to record full year depreciation expense.

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Answer:

-4.25%

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the annual rate of return refers to how much money you win or loss with an investment during a year. In this case, the investor lost $2,126,000 in 4 years, which resulted in a total loss of 17.01% for the whole period.

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3 years ago
Jamie would like to identify the similarities and differences among seven different types of flowers. Jamie should use a Venn di
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Jamie cannot use the Venn diagram as the best compare and contrast graphic organizer for his project. Thus, The correct answer is False.

<h3>What is a Venn diagram?</h3>

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This type of diagram is recommended when comparing two or three elements because you need a circle or space for each element, so it is not possible to compare several elements.

Thus, it is a lie to say that Jamie should use the Venn diagram in his project, because he needs to compare seven types of flowers and this does not happen using the Venn diagram, instead he should use a chart or similar that allows him to compare multiple elements. The correct answer is False.

To learn more about the Venn diagram, refer to the link:

brainly.com/question/26090333

6 0
2 years ago
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Answer: $3,564.50

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The total amount that the company will pay for the merchandise is the net cost of the merchandise, less a 3% cash discount, plus the transportation costs. The cash discount normally only applies to the merchandise and not the transportation costs.

The cost of the merchandise is $3,600 less the $250 refund, which equals $3,350. With a 3% cash discount they will pay 97% of this amount, which is $3,249.50. After adding the additional transportation charge of $315, the total amount to be paid is $3,564.50.

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Neporo4naja [7]

Answer:

A. True

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