Answers
Solution a:
Annual depreciation on equipment = (Cost - residual value) / useful life = ($111,750 - $9,550) / 14 = $7,300
Book value of equipment at the end of year 4 = $111,750 - ($7,300*4) = $82,550
Solution b:
| Journal Entries | ||||
| Event | Date | Particulars | Debit | Credit |
| 1 | 1-Apr | Depreciation expense Dr | $1,825.00 | |
| To Accumulated depreciation - equipment | $1,825.00 | |||
| (To record partial year depreciation_ | ||||
| 2 | 1-Apr | Cash Dr | $75,510.00 | |
| Accumulated depreciation - Equipment Dr | $31,025.00 | |||
| Loss on sale of equipment Dr | $5,215.00 | |||
| To equipment | $111,750.00 | |||
| (To record sale of equipment) | ||||
Similar Solved Questions
1 answer
The number of programming errors in HW assignments by computer science students is assumed to follow...
The number of programming errors in HW assignments by computer science students is assumed to follow a Poisson distribution with mean l (so that the density function is f(x) = lambda ^ x * (e ^ - lambda) / x! ). a) Recall that the mean and variance of a Poisson distribution are both equal to l. A pr...
2 answers
Complete the square: x^2 -12x
Complete the square: x^2 -12x. Which of the following is the correct perfect-square trinomial?the answers are:a.) x^2 +22x+121b.) x^2 -10x+25c.) x^2 -20x+44d.) x^2 -12x+36 This is tough because the answers could be a.) b.) and d.)I am not sure which to choose....
1 answer
A firm has a production function of Q=20K^.2*L^.8 where Q measures output, K represents machine hours,...
A firm has a production function of Q=20K^.2*L^.8 where Q measures output, K represents machine hours, and L measures labor hours. If the rental cost of capital (r) equals $15 the wage rate (w) equals $10, and the firm wants to produce 40,000 units of output, how much labor and capital should the fi...
1 answer
Enzyme chymotrypsin catalyzes the hydrolysis of a peptide containing phenylalanine. Using the data below at a...
enzyme chymotrypsin catalyzes the hydrolysis of a peptide containing phenylalanine. Using the data below at a given temperature, calculate the value of Rmax and K Peptide concentration (M) 2.5 x 10 Reaction rate (M/min) 2.2 x 10 3.8 x 10 5.9 x 104 7.1 x 106 5.0x 10 10.0 x 10 15.0 x 10...
1 answer
A box of mass M = 0.2kg starts out at rest on a horizontal table. The...
A box of mass M = 0.2kg starts out at rest on a horizontal table. The surface is not frictionless. At t = 0.75s you start pushing on the box horizontally in the +x direction, causing it to speed up. The force you push with is not necessarily constant. You stop pushing on the box at t-2s, after which...
1 answer
What is the limit of #((2-x)^2(3-x)^2(1-x)) / (2-x^2)^2# as x goes to infinity?
What is the limit of #((2-x)^2(3-x)^2(1-x)) / (2-x^2)^2# as x goes to infinity?...
1 answer
Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs....
Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (7,650 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 5,000 lbs. $0.75 per lb. Vinegar 350 gal. 0.90 per gal...
1 answer
7. Show that Σο.nafm + n)-p converges if and only if p > 2, (Hint: Use triangular partial sums.) 7. Show that Σ...
7. Show that Σο.nafm + n)-p converges if and only if p > 2, (Hint: Use triangular partial sums.) 7. Show that Σο.nafm + n)-p converges if and only if p > 2, (Hint: Use triangular partial sums.)...
1 answer
Im so grateful for all the help! thank you in advance !! this means so much...
im so grateful for all the help! thank you in advance !! this means so much to me you havw no idea 1 2 3 4 At least one of the answers above is NOT correct. (1 point) (a) Find the P-value for the test statistic z = -1.32 for the following null and alternative hypotheses: Ho: The population me...
1 answer
For a vector field F(x)(2yarctanx)j find a function f such that F,y)-V/ h(2yarctanx)j find a function f such that F(x,y)-U For a vector field F(x,y)- 1+x2 and use this result to evaluate dr, where C:...
For a vector field F(x)(2yarctanx)j find a function f such that F,y)-V/ h(2yarctanx)j find a function f such that F(x,y)-U For a vector field F(x,y)- 1+x2 and use this result to evaluate dr, where C: rit2, osis1 For a vector field F(x)(2yarctanx)j find a function f such that F,y)-V/ h(2yarctanx)j f...
1 answer
JaiLai Cos. stock has a beta of 0.7, the current risk-free rate is 6.4 percent, and...
JaiLai Cos. stock has a beta of 0.7, the current risk-free rate is 6.4 percent, and the expected return on the market is 10 percent. What is JaiLai’s cost of equity? (Round your answer to 2 decimal places.)...
1 answer
Assignment 3 Due April 4 11:59 pm online 1. The demand schedule for a certain cellphone...
Assignment 3 Due April 4 11:59 pm online 1. The demand schedule for a certain cellphone plan is given below. (Q is the quantity/number of customers who get the plan.) Assume that the marginal cost to offer the plan to an additional customer is $5. A) What is the efficient quantity/number of customer...
1 answer
Imagine that you move north, starting at the Equator and ending at the North Pole. The...
Imagine that you move north, starting at the Equator and ending at the North Pole. The correct sequence of precipitation (moisture) patterns is: wet --> dry --> wet --> dry O wet --> dry dry --> wet --> dry --> wet dry - --> wet...
1 answer
Calculate the current through the individual resistors in the following circuit diagram. Please show ALL work....
Calculate the current through the individual resistors in the following circuit diagram. Please show ALL work. 50 Ω 20 Ω 30 Ω + 12V 12 13 15 Ω 20 Ω 30 V (14) i4 15 - 80 Ω 20 V 60 Ω...
1 answer
Winthrop Company has an opportunity to manufacture and sell a new product for a five-year period....
Winthrop Company has an opportunity to manufacture and sell a new product for a five-year period. To pursue this opportunity, the company would need to purchase a piece of equipment for $160,000. The equipment would have a useful life of five years and zero salvage value. It would be depreciated for...