11. On June 30, 2001, Darjani Enterprises sold equipment with an original cost of $99,000 for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
11. On June 30, 2001, Darjani Enterprises sold equipment with an original cost of $99,000 for $40,000. The equipment was purchased January 1, 2000, and was amortized using the straight-line method assuming a five year useful life and $9,000 salvage value. The necessary entries for 2001 include a a. debit to Accumulated Amortization-Equipment for $18,000. b. credit to Gain on Sale of Equipment for $32,000. c. credit to Cash for $40,000. d. debit to Amortization Expense for $9,000. 11. On June 30, 2001, Darjani Enterprises sold equipment with an original cost of $99,000 for $40,000. The equipment was purchased January 1, 2000, and was amortized using the straight-line method assuming a five year useful life and $9,000 salvage value. The necessary entries for 2001 include a a. debit to Accumulated Amortization-Equipment for $18,000. b. credit to Gain on Sale of Equipment for $32,000. c. credit to Cash for $40,000. d. debit to Amortization Expense for $9,000.
Expert Answer:
Answer rating: 100% (QA)
d Debit to Amortization Expense for 9000 Rationale Explanation Annual depreciation ... View the full answer
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Posted Date:
Students also viewed these business communication questions
-
The manager of a store buys weather radios in lots of 48. Suppose that, on the average, 4 out of each group of 48 are defective. The manager randomly selects 4 radios out of the group to test. (a)...
-
Dean Pyes, who has been with the company only five weeks, plans to send the following e-mail to his supervisor. Knowing this is a business message and that Dean hasnt had much time to develop a...
-
Even though you have been with the company for only three months, you've learned quickly and believe that you have a solid understanding of Tesco's strategic challenges and opportunities. Brasher...
-
Should courts ever enforce illegal contracts? If illegal contracts are void as a matter of law, what is the court enforcing? If courts will use equity powers or other roundabout ways to enforce...
-
Use a spreadsheet model to evaluate the project analyzed in Problem 13-7. In problem Nevada Enterprises is considering buying a vacant lot that sells for $1.2 million. If the property is purchased,...
-
1. Do Exercise 17- 24 using the FIFO method. In Exercise 17-24, Tomlinson Corporation is a biotech company based in Milpitas. It makes a cancer-treatment drug in a single processing department....
-
One critical-thinking skill is a heightened awareness of the danger of reaching a conclusion prior to acquiring missing information that were it known would have a reasonable probability of altering...
-
Baucom Manufacturing Corporation was started with the issuance of common stock for $50,000. It purchased $7,000 of raw materials and worked on three job orders during 2012 for which data follow....
-
A co-worker makes a joke with you about a client, saying they 'dress up' on the days you are on shift. The next week you receive a friend request on a social networking site from that client - do you...
-
Shown here are retail price figures and quantity estimates for five different food commodities over 3 years. Use these data and a base year of 2007 to compute unweighted aggregate price indexes for...
-
Mixing Department (FIFO) 5. Total cost of ounces transferred to Bottling Department: ________________________ 6. Cost of Ending Work in Process: ________________________ SgotQut Company manufactures...
-
Larry Johnson gives his son Section 1250 property on which he took $2,000 in depreciation deductions, of which $500 is additional depreciation. Immediately after the gift, the son's adjusted basis in...
-
What molecular mechanisms underlie the phenomenon of allosteric regulation in enzymes, and how does this phenomenon contribute to the intricate control of metabolic pathways within biological systems?
-
How do complex protein-protein interactions govern the formation and regulation of the spliceosome machinery, and what implications do aberrant splicing events have on cellular homeostasis and...
-
How does a nuanced comprehension of population growth contribute to the discourse surrounding climate change, and what strategies can be formulated to ameliorate this interconnection?
-
Jessica paid $1,500 for electricity during the tax year. She used one-third of the electricity for personal purposes and two-thirds for farming. Under these circumstances, Jessica can deduct what...
-
(a) Dante leaves his house on his bike. He rides at a constant speed until he reaches a lemonade stand, where he parks his bike and takes a rest. Then he turns around and bikes home as fast as he...
-
[a] Two foam blocks, each with a charge of 19 micro coulombs (1 C = 10-6 C), are both held in place 19 cm apart in the east-west direction. A foam ball with a charge 49 C is placed 55 cm north of the...
-
The table below gives the millions of White non-Hispanic individuals in the U.S. civilian non-institutional population 16 years and older for selected years from 1980 and projected to 2050. (a) Find...
-
Minimize g = 7x + 6y subject to 5x + 2y 16 3x + 7y 27 Solve the following linear programming problems. Restrict x 0 and y 0.
-
Two boats leave the same port at the same time, with boat A traveling north at 15 knots (nautical miles per hour) and boat B traveling east at 20 knots. How fast is the distance between them changing...
-
Meet with the person you interviewed in mini case 1 and present them with the design prototype you created. Get their feedback on the design. Do they like it? Could they navigate the pages? What...
-
So far, we've researched the viewpoints of leaders in the field of information presentation and human interface design for computer systems. What about experts in other areas? a. Find and interview...
-
On the human factors and human engineering issues in user interface design. The spirt of the discussion is that it is imperative that we understand the people who will be using the system and that we...
Study smarter with the SolutionInn App