Reference no: EM132663888
Question - On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $48,000, has an eight-year useful life, and has no residual value. The company uses the straight-line depreciation method for all manufacturing equipment.
On January 4, 2021, $12,350 was spent to repair the equipment and to add a feature that increased its operating efficiency. Of the total expenditure, $2,000 represented ordinary repairs and annual maintenance and $10,350 represented the cost of the new feature. In addition to increasing operating efficiency, the total useful life of the equipment was extended to 10 years.
Required - Prepare journal entries for the following
1. Depreciation for 2019 and 2020.
2. The 2021 expenditure.
3. Depreciation for 2021.
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Compute the breakeven point in units
: Aspen Artifacts sells a single product. 7,000 units were sold resulting in $70,000 of sales revenue, Compute the Breakeven point in units
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Describe the scope and consequences of the problem
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Discuss the legal consequences of unethical police actions
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Question - Comparative Analysis Case
: Question - Comparative Analysis Case - What employee stock-option compensation plans are offered by Coca-Cola and PepsiCo
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Prepare journal entries for the depreciation
: On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. Prepare journal entries for the depreciation
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Identify an individual or social group
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Distinguish operational decisions and managerial decisions
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Calculate net income for the year ended December
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Identify the key features of a criminal justice bureaucracy
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