Saturn Co. purchases a used machine for $167,000 cash on January 2 and readies it for use the next day at an $3,420 cost. On January 3, it is installed on a required operating platform costing $1,080, and it is further readied for operations. The company predicts the machine will be used for six years and have a $14,600 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of.
1. Prepare journal entries to record the machine’s purchase and the costs to ready and install it. Cash is paid for all costs incurred.
2. Prepare journal entries to record depreciation of the machine at December 31 of (a) its first year in operations and (b) the year of its disposal.
3. Prepare journal entries to record the machine’s disposal under each of the following separate as sumptions: (a) it is sold for $13,500 cash; (b) it is sold for $45,000 cash; and (c) it is destroyed in a fire and the insurance company pays $24,000 cash to settle the loss claim.
List the types of air source packaged heat pumps.Jun 13 2021
Match each linear equation with its graph 6+ blo red. 2+ 1+ + -6 -5 -4 -3 -2 -1 1 green 2 -3 -4 -5 -6+ Equation Graph Color y 1 4 C + 3 a. blue b. black 1 3 -2 - 2 C. gre...May 15 2021
The stock of Big Joe's has a beta of 1.58 and an expected return of 13.00 percent. The risk-free rate of return is 5.5 percent. What is the expected return on the market?...May 04 2020
Identify the entry modes that Walmart employed while internationalizing in each of the countries mentioned in the case. B) What are the advantages and limitations of eac...Apr 04 2021
Does higher demand mean higher prices?May 05 2021
You have found three investment choices for a one-year deposit: 9% APR compounded monthly, 10% APR compounded annually, and 8% APR compounded daily. Compute the EAR for e...Jun 06 2021
A simply supported beam has a 20-ft (6-m) span and carries a uniform dead load (DL) of 800 lb/ft (12 kN/m) and a concentrated live load (LL) at midspan of 9 kips (40 kN) ...Jul 09 2020
Your firm currently has $116 million in debt outstanding with a 8% interest rate. The terms of the loan require it to repay $29 million of the balance each year. Suppose ...Jun 09 2021
Vs is an unregulated voltage that varies between 16 V and 18 V while the Zener diode voltage is VZ = 15 V. The load resistor RL can have a value from 1000 ? to 8 (i.e.,...Jul 13 2020
Which of the following events could increase the demand for labor?a. decrease in output price. b. decrease in the amount of capital available for workers to use. c. an ...May 10 2021