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gregori [183]
3 years ago
14

The following events apply to Gulf Seafood for the 2018 fiscal year: The company started when it acquired $60,000 cash by issuin

g common stock. Purchased a new cooktop that cost $40,000 cash. Earned $72,000 in cash revenue. Paid $25,000 cash for salaries expense. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, 2018, the cooktop has an expected useful life of four years and an estimated salvage value of $4,000. Use straight-line depreciation. The adjusting entry was made as of December 31, 2018
Business
1 answer:
Arte-miy333 [17]3 years ago
6 0

Answer:

depreciation per year:  9,000

<u>operating income: </u>     41,000

Explanation:

Q: Adjusted the records to reflect the use of the cooktop.

Under straight-line the company will recognize the same amount of depreciation over the course of the assets life. At year-end the company will adjsut for the loss in value for the asset generated for the past of time.

\frac{cost - salvage \: \:value}{useful \:\: life}

\frac{40,000- 4,000}{4}

depreciation per year: 9,000

<u>operating income:</u>

revenues                      72,000

salaries expense:        (25,000)

depreciation per year:  (9,000)

          total                    41,000

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Doss [256]

Answer:

Factory overhead

Explanation:

FACTORY OVERHEAD can be defined as the costs which are often incurred during the manufacturing process and they don't include the costs of direct labor and the costs of direct materials which is why FACTORY OVERHEAD are often aggregated into the cost pools as well as been allocated to units produced during the manufacturing period.

In order word FACTORY OVERHEAD can be seen as the total cost which is been involved in operating all of the production facilities of a manufacturing business in which they cannot be traceable directly to a product and it also include the cost of salaries which is been paid to employees who work in a factory .

6 0
3 years ago
Which of the following explains why people became more malnourished after society started relying on agriculture
stepladder [879]

Answer:

the answer would be the second one :)

7 0
3 years ago
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Oliga [24]

Answer:

B.

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8 0
3 years ago
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Genrish500 [490]

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Based on the information given we would be using financial calculator to determine the maximum number of whole payments that can be withdrawn which represent N

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N ?

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3 0
3 years ago
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Note: Premium will not be considered as it is asked for when the bonds are issued.

5 0
4 years ago
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