Business, 14.11.2019 20:31, Toyared

Transactions for fixed assets, including sale the following transactions and adjusting entries were completed by robinson furniture co. during a three-year period. all are related to the use of delivery equipment. the double-declining-balance method of depreciation is used.

year 1 jan. 8. purchased a used delivery truck for $38,400, paying cash. mar. 7. paid garage $170 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck. dec. 31. recorded depreciation on the truck for the fiscal year. the estimated useful life of the truck is 8 years, with a residual value of $8,100 for the truck. year 2 jan. 9. purchased a new truck for $44,100, paying cash. feb. 28. paid garage $320 to tune the engine and make other minor repairs on the used truck. apr. 30. sold the used truck for $25,300. (record depreciation to date in year 2 for the truck.) dec. 31. record depreciation for the new truck. it has an estimated trade-in value of $7,900 and an estimated life of 7 years. year 3 sept. 1. purchased a new truck for $96,000, paying cash. sept. 4. sold the truck purchased january 9, year 2, for $26,800. (record depreciation to date in year 3 for the truck.) dec. 31. recorded depreciation on the remaining truck. it has an estimated residual value of $17,300 and an estimated useful life of 10 years.

required: journalize the transactions and the adjusting entries. if an amount box does not require an entry, leave it blank. do not round intermediate calculations. round your final answers to the nearest cent.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 03:30, rubixcube4786434

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving

Answers: 1

continue

Business, 22.06.2019 21:50, elijahjacksonrp6z2o7

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.

Answers: 1

continue

Business, 23.06.2019 02:30, chriscook1466

For the year ended december 31, 2019, davidson mart had sales of $ 550 comma 000 and cost of goods sold of $ 412 comma 500. davidson estimates that approximately 2% of the merchandise sold will be returned. the adjusting journal entry on december 31, 2019, would include a

Answers: 3

continue

Business, 23.06.2019 08:20, vhuyrtyy

You are a newspaper publisher. you are in the middle of a one-year rental contract for your factory that requires you to pay $500,000 per month, and you have contractual labor obligations of $1 million per month that you can't get out of. you also have a marginal printing cost of $.25 per paper as well as a marginal delivery cost of $.10 per paper. if sales fall by 20 percent from 1 million papers per month to 800,000 papers per month, what happens to the afc per paper?

Answers: 2

continue

Do you know the correct answer?

Transactions for fixed assets, including sale the following transactions and adjusting entries were...