User Account

All Pages

Make an adjusting entry for depreciation expense

Assignment Help Accounting Basics
Reference no: EM132177783

Question - Need to make an adjusting entry for depreciation expense and accumulated depreciation. Worked out the adjusting entries to being $2,642.86, but don't know if that is right, please help.

Equipment: Straight line method used for equipment

Mixing machine: $5,000 initial cost, $500 salvage value, 3rd year of use of 7 total ($642.86 per year).

Ovens: $8,000 initial cost, $1,000 salvage value, 3rd year of use of 7 total ($1,000 per year).

Other depreciable equipment: $4,000 initial cost, $0 salvage value, 1st year of use of 4 total ($1,000 per year).

Reference no: EM132177783

Questions Cloud

What would be the same and what would be different : Could the process used for choosing between cars be applied to selecting between projects to fund within a company?
What is the benefit of having different cost centers : How many cost centers should be used for the expenses at this center? What is the benefit of having different cost centers?
Define and set global performance management standards : How would you define and set global performance management standards?
How you are planning to incorporate week learning : You will submit a business memo, written to your Instructor that explains how you plan to incorporate your learning from the week into your Final Project.
Make an adjusting entry for depreciation expense : Mixing machine: $5,000 initial cost, $500 salvage value, Need to make an adjusting entry for depreciation expense and accumulated depreciation
Three values of continuing lines of credit for debtor : What are three values of continuing lines of credit for a creditor? What are three values of continuing lines of credit for a debtor?
How would you respond to the technology : How would you respond to the technology to the technology support supervisor plan for Microsoft office? Justify your stance by providing specific HIM tasks
What is balance billing and why is it a prohibited practice : What is balance billing and why is it a prohibited practice? What is the differene betwen gross medical services revenue and net medical service revenue?
Determine the pricing and output decisions of businesses : Explain how market structures determine the pricing and output decisions of businesses

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are the consolidated balances for the accounts

On June 30, 2015, Wisconsin, Inc., issued $194,700 in debt and What are the consolidated balances for the following accounts

  How many pound of raw material a is walman

how many pound of raw material A is Walman planning to purchase

  Illustrate the situation graphically

Illustrate the situation graphically. If the portfolio's value after 4 years is $291,437 what should you do?

  Net operating income earned

what is the net operating income earned by product m12Caccording to the company's accounting system? Show work.

  Calculate the projected net income

Using the operating leverage, calculate the projected net income if the sales of $500,000 were to increase by 10%. Show the proof in the format above

  Journalize the lump-sum purchase of the three assets

Journalize the lump-sum purchase of the three assets for a total cost of $ 310,000. The business signs a note payable for this amount

  Better food company recently acquired an olive oil

better food company recently acquired an olive oil processing company that has an annual capacity of 3000000 liters and

  Walsh company expects sales of product w to be 60000 units

walsh company expects sales of product w to be 60000 units in april 75000 units in may and 70000 units in june. the

  List different costs associated with \new product decision

List the different costs associated with the new product decision down the extreme left column (under Name of the Cost).

  What are different criteria for recognizing revenue

What are different criteria for recognizing revenue? Why are there so many revenue recognition methods? Why are the methods subjective, and what are the implications on income statement quality?

  Raes bakery makes apple pies raes bakery plans to bake 2000

1. expected manufacturing costs for roberts widgits are as follows variable costs fixed costs per month direct

  Fallow-hawkes is a nonprofit organization that captures

fallow-hawkes is a nonprofit organization that captures stray deer bewildered within residential communities. fixed

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd