Homework Answers
B. $163,800
Depreciation for the first year = [($444,000 - $24,000) / 10,000 hours] × 3,900 hours = $163,800
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Multiple Choice Question 211 Quiz Equipment t o ol 4000 med salge value 124000 and amount...
u t with a co 44000 has an estimated salge value of 128000 and an estimated...
u t with a co 44000 has an estimated salge value of 128000 and an estimated We of 4 years or 10000 hours. It is to be depreciated by the depreciation for the first full year during which the equipment was used for 2100 hours? of activity method. What is the amount of $112000 $105000 $88200 $108250.
Multiple Choice Question 131 During 2016, Waterway Co. generated revenues on the 2oleues ol $10500. The...
Multiple Choice Question 131 During 2016, Waterway Co. generated revenues on the 2oleues ol $10500. The company's eonpensers oos cos The company's 00, es of $2a00 and a os Waterway's income from operations is O$105000 $40000. $42000 O $23000.
Multiple Choice Question 36 For Buffalo Co., at a sales level of 4000 units, sales is...
Multiple Choice Question 36 For Buffalo Co., at a sales level of 4000 units, sales is $75000, variable expenses total $50000, and fixed expenses are $21000. What is the contribution margin per unit? o $5.25 O $12.5 O $6.25 O $18.75 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMET ANSWER SUBMIT ANSWER
FULL SCREEN CALCURATOR PRINTER VERSON NEXT BACK Multiple Choice Question 108 On January 1, a machine...
FULL SCREEN CALCURATOR PRINTER VERSON NEXT BACK Multiple Choice Question 108 On January 1, a machine with a useful lfe of four years and a salvage value of $10000 was purchased for $74000. what is the depreciation expense for year 2 under straight-line depreciation O $18500 O $32000 O 137000. O $16000 INK TO TEXT HIT ANSWE SAE FOR LATE Question Attempts: 0 of 1 used
Multiple Choice Question On Janu. year 1, Roark Corp purchased equipment for $120,000. The equipment has...
Multiple Choice Question On Janu. year 1, Roark Corp purchased equipment for $120,000. The equipment has a residual value of $20,000, and has a life of 1,000,000 hours, Roark uses the units-of-production method of depreciation. In year 1, Roark used the machine 30,000 hours, and in year 2, Roark used the machine 50,000 hours. What is the depreciation expense for year 2? O $5,000 $6,000 O $3,000 O $8,000
Multiple Choice Question 122 Sheffield Company purchased equipment for $48600 on January 1, 2018. The company...
Multiple Choice Question 122 Sheffield Company purchased equipment for $48600 on January 1, 2018. The company expects to use the equipment for 3 years. It has no salvage value. Monthly depreciation expense on the asset is $1350 0 $0 $16200 $45600 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
Multiple choice question CALCULATOR PRINTER VERSION BACK NEXT Multiple Choice Question 103 SheridanCompany is authorized to...
Multiple choice question
CALCULATOR PRINTER VERSION BACK NEXT Multiple Choice Question 103 SheridanCompany is authorized to issue 10000 shares of 1000096, $100 par value preferred stock and 458000 shares of no-par common stock with a stated value of $1 per share. If Sheridan issues 5000 shares of preferred stock for land with an asking price of $569000 and a market value of $542000, which of the following would be the journal entry for Sheridan to record? O Land O Land...
Multiple Choice Question 119 Bonita Industries developed the following data for the current year: Beginning work...
Multiple Choice Question 119 Bonita Industries developed the following data for the current year: Beginning work in process inventory Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs $ 96000 208000 176000 184000 860000 816000 How much is Bonita Industries's ending work in process inventory for the year? O $52000 O $124000 O $444000 O $372000 Multiple Choice Question 121 Concord Corporation had the following information at December 31: Finished goods inventory, January 1 Finished...
Time 1142 AM Ra n g 56 min CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple...
Time 1142 AM Ra n g 56 min CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 152 Equipment that cost $145000 and on which $122000 of accumulated depreciation has been recorded was disposed of for $34000 cash. The entry to record this event would include O credit to Accumulated Depreciation for $122000 gain of $11000 loss of $11000 credit to the Louiment account for $34000 LINK TO THE question Attempts of I used SAVE FOR LATER SET ASWER
CALCULATOR FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 108 Blue's Bookstore has collected $60 in...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 108 Blue's Bookstore has collected $60 in sales taxes during April. If sales taxes must be remitted to the state government monthly, what entry will blue's Bookstore make to show the Apri remittance Sales Taxes Payable O No entry required. Sales Tax Expense Cash Sales Tax Expense Sales Taxes Payable Question Attempts of 1 used SAVE FOR LATER SUBMIT ANSWER
u t with a co 44000 has an estimated salge value of 128000 and an estimated We of 4 years or 10000 hours. It is to be depreciated by the depreciation for the first full year during which the equipment was used for 2100 hours? of activity method. What is the amount of $112000 $105000 $88200 $108250.
Multiple Choice Question 131 During 2016, Waterway Co. generated revenues on the 2oleues ol $10500. The company's eonpensers oos cos The company's 00, es of $2a00 and a os Waterway's income from operations is O$105000 $40000. $42000 O $23000.
Multiple Choice Question 36 For Buffalo Co., at a sales level of 4000 units, sales is $75000, variable expenses total $50000, and fixed expenses are $21000. What is the contribution margin per unit? o $5.25 O $12.5 O $6.25 O $18.75 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMET ANSWER SUBMIT ANSWER
FULL SCREEN CALCURATOR PRINTER VERSON NEXT BACK Multiple Choice Question 108 On January 1, a machine with a useful lfe of four years and a salvage value of $10000 was purchased for $74000. what is the depreciation expense for year 2 under straight-line depreciation O $18500 O $32000 O 137000. O $16000 INK TO TEXT HIT ANSWE SAE FOR LATE Question Attempts: 0 of 1 used
Multiple Choice Question On Janu. year 1, Roark Corp purchased equipment for $120,000. The equipment has a residual value of $20,000, and has a life of 1,000,000 hours, Roark uses the units-of-production method of depreciation. In year 1, Roark used the machine 30,000 hours, and in year 2, Roark used the machine 50,000 hours. What is the depreciation expense for year 2? O $5,000 $6,000 O $3,000 O $8,000
Multiple Choice Question 122 Sheffield Company purchased equipment for $48600 on January 1, 2018. The company expects to use the equipment for 3 years. It has no salvage value. Monthly depreciation expense on the asset is $1350 0 $0 $16200 $45600 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
Multiple choice question
CALCULATOR PRINTER VERSION BACK NEXT Multiple Choice Question 103 SheridanCompany is authorized to issue 10000 shares of 1000096, $100 par value preferred stock and 458000 shares of no-par common stock with a stated value of $1 per share. If Sheridan issues 5000 shares of preferred stock for land with an asking price of $569000 and a market value of $542000, which of the following would be the journal entry for Sheridan to record? O Land O Land...
Multiple Choice Question 119 Bonita Industries developed the following data for the current year: Beginning work in process inventory Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs $ 96000 208000 176000 184000 860000 816000 How much is Bonita Industries's ending work in process inventory for the year? O $52000 O $124000 O $444000 O $372000 Multiple Choice Question 121 Concord Corporation had the following information at December 31: Finished goods inventory, January 1 Finished...
Time 1142 AM Ra n g 56 min CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 152 Equipment that cost $145000 and on which $122000 of accumulated depreciation has been recorded was disposed of for $34000 cash. The entry to record this event would include O credit to Accumulated Depreciation for $122000 gain of $11000 loss of $11000 credit to the Louiment account for $34000 LINK TO THE question Attempts of I used SAVE FOR LATER SET ASWER
CALCULATOR FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 108 Blue's Bookstore has collected $60 in sales taxes during April. If sales taxes must be remitted to the state government monthly, what entry will blue's Bookstore make to show the Apri remittance Sales Taxes Payable O No entry required. Sales Tax Expense Cash Sales Tax Expense Sales Taxes Payable Question Attempts of 1 used SAVE FOR LATER SUBMIT ANSWER
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