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Veseljchak [2.6K]
2 years ago
7

Carla Vista Co. sells office equipment on July 31, 2017, for $21,240 cash. The office equipment originally cost $86,550 and as o

f January 1, 2017, had accumulated depreciation of $35,470. Depreciation for the first 7 months of 2017 is $4,710.Prepare the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment.
Business
1 answer:
GenaCL600 [577]2 years ago
6 0

Answer:

Explanation:

The journal entries are shown below:

a. Depreciation Expense A/c Dr $4,710

        To Accumulated Depreciation - Office equipment A/c  $4,710

(Being depreciation expense is recorded)

The depreciation expense is calculated for eight months (January - August)

b. Cash A/c Dr $21,240

   Accumulated Depreciation - Office equipment A/c Dr $40,180

   Loss  on Disposal of Office equipment A/c Dr $25,130

                 To Office equipment A/c $86,550                

(Being sale of machinery is recorded and the remaining balance is debited to the Loss on Disposal of Office equipment A/c)

The accumulated depreciation is computed below:

= $35,470 + $4,710

= $40,180

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Jack is a self-employed contractor. He uses his Ford F250 in his business. He does not have another vehicle for personal use. He
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C business mileage during the year to claim the standard mileage rate for the business
5 0
1 year ago
On January 1, Year 1, Sayers Company issued $280,000 of five-year, 6 percent bonds at 102. Interest is payable semiannually on J
mel-nik [20]

Answer:

The cash received from bond issuance is journalized as follows:

Dr Cash                                $285,600

Cr  Bonds payable                                  $280,000

Cr Premium on Bonds payable                   $5,600

The June 30 and 31 December Year 1 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                         $8400

31 December

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                         $8400

The June 30 and 31 December Year 2 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                             $8400

31 December

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                            $8400

Explanation:

The amount realized from the bond is calculated thus:

$280,000*102%=$285,600

Premium on  bond=Bonds proceeds-par value

                                =$285,600-$280,000

                                =$5,600

Semi-annual amortization of bond premium=$5,600/5*6/12

                                                                         =$560

Semi-annual interest payment=$280,000*6%*6/12

                                                 =$8,400

5 0
2 years ago
A flower vendor sells roses for 50 cents each. how much does she pay per flower if she makes $6.00 on every twenty dollars worth
Bess [88]
Let $x = the cost per flower.

Number of roses sold = 20
Profit on 20 roses = $6

Cost = (30 roses)($x per rose) = $ 20x
Revenue = ($0.50 per rose)*(20 roses) = $10
Profit = $10 - $ 20x = $6

That is,
10 - 20x = 6
20x = 10 - 6
20x = 4
x = $0.2 = 20 cents

Answer: She paid 20 cents per flower.
3 0
2 years ago
You are a newly hired operations manager for Hospital XYZ. You are required to:
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Answer:

Follows are the solution to this question:

Explanation:

follows are the tasks, which is not in the priority order and at hand at Hospital XYZ:

HR domain: share the latest recruitment procedures throughout the emergency department of public health.

Operations: nurse staffing methods for function or treatment.

Funding: Review financial requests for both the purchase of new protections on wax surfaces by protection from the environment.

IT: IT reviews complaints regarding a possible breach of information.

IT: Study application in the physician's office for the implementation of new technology.

If valuing such activities, it should remember, that this patient (client) becomes impacted mainly. The clinicians or staff involved in Tasks 1 & 2, because Task 2, the very first priority must be considered, and also some standards must be developed, by each nurse, with remote care issues.

Information from its daily client is provided to control the staff, and a specific training program is intended for both the newly employed and negative feedback staff.

Respondents-Patients, Professions

Task 1, which directly affects the daily quality of service in a hospital, should be the secondary priority, with such a smaller shortage of hospitals due to customer dissatisfaction.

Members – Patients, medical personnel, permanent employees, doctors.

Task 4 When information violation is alleged, the third priority should to the loss of important patient data to certain other entities that may use for financial gains.

Participants – IT department, patients.

Task 3 will help its hospital cleaner if funds are required to purchase new buffers. Especially in comparison with all the above 3 tasks, it was taken as the fourth priority.

It was important, and that does not affect mostly the client nor would it impact the level of service as large as the three tasks above.

Advisor position-representatives of finance, environment protection, clean folk (sweepers). advisor position

Task 5 Its latest radiology software review application is now to be approved as the last. It indicates why old software is already in place since it is a new program. Consequently, nothing's ever going to stoop or the task in other projects is no slowdowns. It can be achieved as the last goal.

Investors involved-officials of the IT agency, diagnostic agents.

The process improvement throughout the solution of the problems in the hospitals by providing them the necessary importance to identify the priorities of different tasks.

6 0
2 years ago
Bradford Company derived the following cost relationship from a regression analysis of its monthly manufacturing overhead cost:
Firdavs [7]

Answer:

Bradford's estimated variable manufacturing overhead cost is $127,200

Explanation:

The cost function=$83,000+$12M

where M stands for machine hours required to produce the expected output in the month under review.

Each one-six unit case of Bradford's single product requires two machine hours,hence 5,300 cases would require 10,600 hours(5,300*2hrs).

Total estimated variable manufacturing overhead=cost per machine hour*expected number of machine hours

cost per machine hour is $12 as seen in the cost function

estimated variable manufacturing overhead=$12*10,600=$127,200

3 0
2 years ago
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