The estimated amount of depreciation on equipment for the current year is $14,400. Journalize the adjusting entry
Question:
The estimated amount of depreciation on equipment for the current year is $14,400. Journalize the adjusting entry (include an explanation) to record the depreciation.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (8 reviews)
Journal entry Deprecia...View the full answer
Answered By
Vikash Kumar
Hi, I am a passionate tutor in Accounts, Audit and related fields. I believe in providing answers based on logics and proper explanations, which are backed up by genuinely sourced evidences.
I understand the situation when a person gets stucked and is in an urgent need of help.
Apart from working with organisations including an MNC in my field, I have tutoring experience with an online platform which has participants from all around the world.
I am a Graduate in Commerce and semi qualified from ICAI and ICSI. A practical work experience helps an individual to grasp the concepts in a proper manner and understand things in a real life environment.
This, gives me a huge level of satisfaction and clarity on what is to be taught in the academic life of a student, helping me to guide them in their subjects by understanding the main areas of concern and provide quality answers.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Question Posted:
Students also viewed these Business questions
-
The estimated amount of depreciation on equipment for the current year is $2,900. Journalize the adjusting entry to record the depreciation.
-
The estimated amount of depreciation on equipment for the current year is $8,120. Journalize the adjusting entry (include an explanation) to record the depreciation.
-
The estimated amount of depreciation on equipment for the current year is $1,840. Journalize the adjusting entry to record the depreciation.
-
PLEASE, PLEASE use an Excel formula:1. Begin the formula with an = sign.2. Reference cells, instead of entering values.Example: =PV(H8+H9) A company borrowed money from a local bank. The note the...
-
A sewer pipe must be laid from a starting invert elevation of 650.73 ft at station 9+25 to an ending invert elevation 653.81 ft at station 12+75. Determine the uniform grade needed, and calculate...
-
To increase sales, management is considering reducing its credit standards. This action is expected to increase sales by $125,000. Unfortunately, it is anticipated that 7 percent of the sales will be...
-
Refer to the information in Exercise 24-3 and assume instead that double-declining depreciation is applied. Compute the machines payback period (ignore taxes). (Round the payback period to three...
-
A company has a 12% WACC and is considering two mutually exclusive investments (that cannot be repeated) with the following net cash flows: a. What is each projects NPV? b. What is each projects IRR?...
-
A cylindrical silo topped by a hemispherical vault of 1920 m3 was built. The production cost per m2 is double in the vault than in the cylindrical part. The cost is $8000 pesos per m2 in the vault If...
-
Micro Technologies sells two products: X and Y. The selling price, variable cost, and sales mix for the products are presented in the table below. Product Unit Sales Price Unit Variable Cost...
-
For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance...
-
The supplies account had a beginning balance of $4,085 and was debited for $7,810 for supplies purchased during the year. Journalize the adjusting entry (include an explanation) required at the end...
-
Let \(\left\{x_{n}ight\}_{n=1}^{\infty}\) and \(\left\{y_{n}ight\}_{n=1}^{\infty}\) be sequences of real numbers such that \[\lim _{n ightarrow \infty} x_{n}=x\] and \[\lim _{n ightarrow \infty}...
-
A city is considering building a new museum. The local paper wishes to determine the level of support for this project, and is going to conduct a poll of city residents. Out of the sample of 120...
-
Sophie, the editor of the student newspaper, is going to conduct a survey of students to determine the level of support for the current president of the students' association. She needs to determine...
-
The same study found that \(y=12\) out of \(n=145\) samples identi ed as having a heavy environmental impact from dairy farms contained Giardia cysts. (a) What is the distribution of \(y\), the...
-
In the same study of water quality, \(n=87\) samples were taken from streams in municipal catchments. Out of these \(y=8\) had a high Campylobacter level. Let be the true probability that a sample of...
-
Let be the proportion of students at a university who approve the government's policy on students' allowances. The students' newspaper is going to take a random sample of \(n=30\) students at a...
-
Let A be a nonsingular n n matrix and let Q be an n n orthogonal matrix. Show that (a) cond2(QA) = cond2(Ag) = cond2(A) (b) If B = QTAQ, then cond2(S) = cond2(A).
-
r = 0.18 Find the coefficients of determination and non-determination and explain the meaning of each.
-
1. (3.5 pts) An infinite slab of charge is parallel to the x-y plane. It has a thickness 2d and a charge density of p(z) = -Po (1 - 22), where po > 0 and z = 0 is the center of the slab. a. Find the...
-
What's the return value of following method if it is called with an input n = 9? public static int mystery (int n) { } 4 if (n < 1) return 0; else if (n % 2 == 1) else return mystery(n-1); return 1+...
-
Two parallel plates are set up with one 1.80 m above the other. The bottom plate has an electric potential of zero and the top has an electric potential of 3.37x106 V. A charged ball of mass 0.800 g...
Study smarter with the SolutionInn App