Option (B) is the right choice. Explanation: Calculating the depreciable basis involves subtracting residual value from cost, which here results in $190,000 - $10,000, giving us $180,000. The usage is identified as 75,000 bolts. The first-year figures indicate the book value starts at $190,000, while 15,000 bolts were created, translating the depreciation expense into 15,000 multiplied by $2.40, equal to $36,000. Subsequently, the ending book value becomes $190,000 minus $36,000, resulting in $154,000. For Year 2, using 19,000 units leads to a depreciation expense of $45,600. The concluding book value for Year 2 becomes $108,400, while accumulated depreciation for both years culminates at $81,600.
Answer:
Journal Entries
1) Debit Salary Expense $6,667 Credit Bank $6,667
2) Debit Fuel and Maintenance Expense $600, Credit Bank $600
3) Debit Depreciation Expense $amount Credit Accumulated Depreciation $amount
4) Debit Insurance Expense $amount Credit Bank $amount
5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount
6) Debit Accounts Receivable (total of all trips) $amount Credit Service Revenue $amount
Explanation:
The prompt is not complete, but I will create typical journal entries for the transactions without numerical figures.
1) The salary represents one month, and the in brackets is a $80,000*1/12 calculation showing that the $80,000 is annual; should this have been already recorded, we would debit salaries payable $6,667 and credit bank $6,667
4) Insurance expense is debited if paid as incurred, but if there's a Prepaid Insurance account, we credit the Prepaid Insurance account instead of Bank.
Answer:
Mary must submit official paperwork related to the merger or name change to the DSO, ensuring her records are updated.
Explanation:
Since the firm has merged and changed its name from XYZ Corporation to ABCXYZ Inc, Mary needs to draft a formal notification to her DSO regarding this change and the merger.
The DSO will then amend her records with the University of the Cumberlands.
The share of the overall price attributed to the product is under 50%, likely around 35-40%.
Clarification:
Given that the product's standalone price is $450 while the service is priced at $550, the total cost when both are purchased separately comes to at least $1000. However, the company is currently offering a promotion, selling both for $800.
This indicates that the business is experiencing some loss that must be absorbed. The discount provided to clients results in a loss of $200, which acts as a motivation for the customers.
