subject
Business, 21.09.2021 14:50 chayaharroch03

The following transactions and adjusting entries were completed by Robinson Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance method of depreciation is used. Year 1 Jan. 8 Purchased a used delivery truck for $24,000, paying cash. Mar. 7 Paid garage $900 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck. Dec. 31 Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is four years, with a residual value of $4,000 for the truck. Year 2 Jan. 9 Purchased a new truck for $50,000, paying cash. Feb. 28 Paid garage $250 to tune the engine and make other minor repairs on the used truck. Apr. 30 Sold the used truck for $9,500. (Record depreciation to date in Year 2 for the truck.) Dec. 31 Record depreciation for the new truck. It has an estimated residual value of $12,000 and an estimated life of eight years. Year 3 Sept. 1 Purchased a new truck for $58,500, paying cash. Sept. 4 Sold the truck purchased January 9, Year 2, for $36,000. (Record depreciation to date for Year 3 for the truck.) Dec. 31 Recorded depreciation on the remaining truck. It has an estimated residual value of $16,000 and an estimated useful life of 10 years.

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 20:50
Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning
Answers: 2
question
Business, 22.06.2019 01:30
Diversity is an obstacle all marketers face: true false
Answers: 2
question
Business, 22.06.2019 12:30
On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.
Answers: 3
question
Business, 22.06.2019 15:20
Table 1. shows the expected demand for the dvd at different suggested donation levels, and they can act as a single-price monopolist if they choose to. thereceipts will be used to fund gstcg supplies for their data collection and conservation work. at the end of each sea turtle nesting season, any excess funds are donated by the gstcg to a local non-profit sea turtle research and rehabilitation facility. table 1 suggested anticipated total marginal profit donation per number of dvd revenue revenue dvd request requests $19.00 0 $15.00 2 $9.50 4 $7.75 10 $3.00 15 $0.00 20 a. complete table 1 by computing the total revenue, marginal revenue, and profit columns. b. the president wants the gstcg to provide videos to generate the most possible donations (total revenue). what price, if any, is the president of the gstcg favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. c. the education outreach committee wants the gstcg to provide videos to the highest possible number of people. what price, if any, is the educational outreach committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. d. the treasurer of the gstcg wants the dvd program to be as efficient as possible so that the marginal revenue equals marginal cost. what price, if any, is the treasurer favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. e. the fundraising committee wants the dvd program to generate as much profit in donations as possible. what price, if any, is the fundraising committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer.
Answers: 3
You know the right answer?
The following transactions and adjusting entries were completed by Robinson Furniture Co. during a t...
Questions
question
Mathematics, 18.11.2020 04:40
question
Mathematics, 18.11.2020 04:40
question
Mathematics, 18.11.2020 04:40
question
Mathematics, 18.11.2020 04:40
question
Mathematics, 18.11.2020 04:40
question
Physics, 18.11.2020 04:40
question
Computers and Technology, 18.11.2020 04:50
question
Mathematics, 18.11.2020 04:50
Questions on the website: 13722360