This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On January 1, 2011, Truckin, Inc. purchased a 100,000 truck with an estimated useful life of 10 ... (Read 167 times)

elizabeth18

  • Hero Member
  • *****
  • Posts: 559
on: Jul 5, 2018
On January 1, 2011, Truckin, Inc. purchased a 100,000 truck with an estimated useful life of 10 years and a 0 residual value. The adjusting entry to record depreciation on the truck for the year ended December 31 will include a ________.
 
  A) credit to Truck of 10,000
  B) credit to Depreciation expense of 10,000
  C) credit to Accumulated depreciation of 10,000
  D) debit to Accumulated depreciation of 10,000

Question 2

Estimated Returns Inventory is an account used when adjusting for expected merchandise sales in the next period.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kingjoffery

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

False


elizabeth18

  • Hero Member
  • *****
  • Posts: 559
Reply #2 on: Jul 5, 2018
Correct answers!


Kingjoffery

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jul 5, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

The life cycle of a zygomycete, the black bread mould Rhizopus stolonifer. The life cycle of a zygomycete, the black bread mould Rhizopus stolonifer.
The complete life cycle of a trematode. The complete life cycle of a trematode.
Drug elimination: half-life to steady state. Drug elimination: half-life to steady state.
How to solve a half life problem involving exponential models (Question 1) How to solve a half life problem involving exponential models (Question 1)
Life cycle of a T-even bacteriophage, as known in 1952 Life cycle of a T-even bacteriophage, as known in 1952
Life cycle of a moss (Polytrichum) Life cycle of a moss (Polytrichum)
Video: Neuron Structure Animation

For a complete list of videos, visit our video library