« previous next »

Author Question: Depreciation on equipment for the year is 6,300. (a) Record the journal entry if the company adjusts ... (Read 107 times)

geodog55

  • Hero Member
  • *****
  • Posts: 530
on: Jul 5, 2018
Depreciation on equipment for the year is 6,300. (a) Record the journal entry if the company adjusts its account once a year. (b) Record the journal entry if the company adjusts its account on a monthly basis.

Question 2

Adjustments to Enterprise Funds to prepare the government-wide financial statements will mostly be limited to
 
  A. Changes in measurement focus adjustments.
  B. Changes in basis of accounting adjustments.
  C. Internal Service Fund adjustments.
  D. Changes in budgetary basis adjustments.


abctaiwan

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jul 5, 2018
Answer to Question 1

(a)
Depreciation Expense
Accumulated Depr. - Equipment
(b)
Depreciation Expense (6,300/12)
6,300

525

6,300
Accumulated Depr. - Equipment 525

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Oxygen Equipment 1 Oxygen Equipment 1
Vinyl record Vinyl record
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Video: Appendicitis Animation

For a complete list of videos, visit our video library