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89. The interest charged on a $90,000 note payable, at the rate of 6%, on a...
Question 9 0.6 points Sav The total interests charged on a $90,000 note payable, at the rate of 6% on a 3 months no...
Question 9 0.6 points Sav The total interests charged on a $90,000 note payable, at the rate of 6% on a 3 months note would be $5,400. $2,700. $1,350 $900
USUDI TU OF Question 10 0.6 points Save Answer Equipment with a cost of $300.000 has...
USUDI TU OF Question 10 0.6 points Save Answer Equipment with a cost of $300.000 has an estimated salvage value of $20,000 and an estimated life of 4 years or 10,000 hours. It is to be depreciated by the units of production activities method. What is the amount of depreciation for the first full year, during which the equipment was used 2,700 hours? $75,000 $70,000 $75,600 $72,500.
The total interest charged on a $300,000 note payable, at the rate of 8%, on a...
The total interest charged on a $300,000 note payable, at the rate of 8%, on a 60-day note would be: Select one: a. $17,776. b. $6,000. c. $24,000. d. $4,000.
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts receivable....................64,000 Accrued liabilities....................7,000 Cash.........................................20,000 Intangible assets............................40,000 Inventory...............................................72,000 Long-term investments...............................100,000 Long-term liabilities.....................................75,000 Marketable securities.................................35,000 Notes payable (short-term)........................20,000 Property, plant, and equipment.................625,000 Prepaid expenses.........................................2,000 WHAT IS WORKING CAPITAL? a. $162,000 b. $134,000 c. $193,000 d. $62,000 2. Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash..............................................$60,000 Prepaid insurance..........................40,000 Accounts receivable......................50,000 Inventory.........................................70,000 Land held for investment................80,000 Land................................................95,000...
please help with these accouting questions! 3 IV ab X, X 1 Styles Styles Pane S...
please help with these accouting questions!
3 IV ab X, X 1 Styles Styles Pane S 11. Equipment was purchased for $150,000. Freight charges amounted to $7,000 and there was a cost of $20,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $30,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be A) $35,400. B) $29,400 C) $24,600 D) $24,000....
Req 2: First, fill in the missing costs. Then, calculate the company's predetermined manufacturing overhead rate,...
Req 2: First, fill in the missing costs. Then, calculate the company's predetermined manufacturing overhead rate, assuming the company uses direct labor hours as its allocation base. Estimated total Type of Cost Selling and Administrative salaries and expenses cost for the year 210,000 Direct Labor (Estimated 40,000 DL hours @ average wage rate of $11 per hour) Indirect plant labor Plant utilities 60,000 70,000 1,500,000 120,000 30,000 Purchases of direct materials Lease and property taxes on the plant 2$ Marketing...
Req 2: First, fill in the missing costs. Then, calculate the company’s predetermined manufacturing overhead rate,...
Req 2: First, fill in the missing costs. Then, calculate the company’s predetermined manufacturing overhead rate, assuming the company uses direct labor hours as its allocation base. Type of Cost Estimated total cost for the year Selling and Administrative salaries and expenses $ 210,000 Direct Labor (Estimated 40,000 DL hours @ average wage rate of $11 per hour) $ 440,000 Indirect plant labor $ 60,000 Plant utilities $ 70,000 Purchases of direct materials $ 1,500,000 Lease and property taxes on...
Benny, Inc. purchased a bulldozer on July l, 2017 for $80,000. The equipment has an estimated...
Benny, Inc. purchased a bulldozer on July l, 2017 for $80,000. The equipment has an estimated residual value of $4,000 and an estimated useful life of 10 years or 20,000 run hours of production which is operation hours: Benny, Inc. uses a calendar year. Required: Calculate depression expenses for 2017 and 2018 using units of production method 2017 = 1000 hours, 2018 hours = 3000 hours. Calculate the accumulated depreciation and carrying the value of the equipment on December 31,...
Question 6 --/2 View Policies Current Attempt in Progress Sunland Company owns equipment that cost $80,000...
Question 6 --/2 View Policies Current Attempt in Progress Sunland Company owns equipment that cost $80,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $20,000 and an estimated useful life of 5 years. Prepare Sunland Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at
December 31, 20Y8 and 20Y7, is as follows:
Additional data obtained from the income statement and from an
examination of the accounts in the ledger for 20Y8 are as
follows:
A. Net income, $190,000.
B. Depreciation reported on the income statement, $115,000.
C. Equipment was purchased at a cost of $395,000 and fully
depreciated equipment costing $75,000 was discarded, with no
salvage realized.
D. The mortgage note payable was not...
Question 9 0.6 points Sav The total interests charged on a $90,000 note payable, at the rate of 6% on a 3 months note would be $5,400. $2,700. $1,350 $900
USUDI TU OF Question 10 0.6 points Save Answer Equipment with a cost of $300.000 has an estimated salvage value of $20,000 and an estimated life of 4 years or 10,000 hours. It is to be depreciated by the units of production activities method. What is the amount of depreciation for the first full year, during which the equipment was used 2,700 hours? $75,000 $70,000 $75,600 $72,500.
please help with these accouting questions!
3 IV ab X, X 1 Styles Styles Pane S 11. Equipment was purchased for $150,000. Freight charges amounted to $7,000 and there was a cost of $20,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $30,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be A) $35,400. B) $29,400 C) $24,600 D) $24,000....
Req 2: First, fill in the missing costs. Then, calculate the company's predetermined manufacturing overhead rate, assuming the company uses direct labor hours as its allocation base. Estimated total Type of Cost Selling and Administrative salaries and expenses cost for the year 210,000 Direct Labor (Estimated 40,000 DL hours @ average wage rate of $11 per hour) Indirect plant labor Plant utilities 60,000 70,000 1,500,000 120,000 30,000 Purchases of direct materials Lease and property taxes on the plant 2$ Marketing...
Question 6 --/2 View Policies Current Attempt in Progress Sunland Company owns equipment that cost $80,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $20,000 and an estimated useful life of 5 years. Prepare Sunland Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
The comparative balance sheet of Yellow Dog Enterprises Inc. at
December 31, 20Y8 and 20Y7, is as follows:
Additional data obtained from the income statement and from an
examination of the accounts in the ledger for 20Y8 are as
follows:
A. Net income, $190,000.
B. Depreciation reported on the income statement, $115,000.
C. Equipment was purchased at a cost of $395,000 and fully
depreciated equipment costing $75,000 was discarded, with no
salvage realized.
D. The mortgage note payable was not...
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