On August 1 the Darius Co. purchased a photocopy machine for $8,000. The estimated annual depreciation on the machine is $1,680. If the company prepares annual financial statements on December 31, the appropriate adjusting journal entry to make on December 31 of the first year would be a:
a) $700 debit to Depreciation Expense and a $700 credit to Accumulated Depreciation.
b) $140 debit to Depreciation Expense and a $140 credit to Accumulated Depreciation.
c) $700 debit to Depreciation Expense and a $140 credit to Equipment.
d) $1,680 debit to Depreciation Expense and a $1,680 credit to Accumulated Depreciation.

Walmart’s scm system walmart is famous for its low prices, and you may have experienced its low prices first-hand. at least, you have probably seen its motto, “always low prices— always.” one of the biggest reasons walmart is able to sell at prices lower than almost everyone else is that it has a superefficient supply chain. its it-enabled supply chain management system is the envy of the industry because it drives excess time and unnecessary costs out of the supply chain. so, because walmart can buy low, it sells low. as a matter of fact, if your company wants to sell items to walmart for it to sell in its stores, you will have to do business with it electronically. if your company can’t do that, walmart won’t buy anything from you. log on to walmart’s web site (), search for supplier information, and find out what walmart’s requirements are for its suppliers to do business with it electronically. prepare a brief summary of its requirements for presentation in clas

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.