Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2012. It has been depreciated using the straight-line method based on an estimated salvage value of $5,000 and an estimated useful life of 5 years. InstructionsPrepare Pryce Company's journal entries to record the sale of the equipment in these four independent situations. (a) Sold for $31,000 on January 1, 2015. (b) Sold for $31,000 on May 1, 2015. (c) Sold for $11,000 on January 1, 2015. (d) Sold for $11,000 on October 1, 2015

Answers

Answer 1
Monthly depreciation is calculated as follows:
65,000 (Cost) – 5,000 (Salvage Value) ÷ 60 (5 years X 12 months per year) = 1,000 in depreciation per month.

a) Accumulated depreciation from 1/1/12 to 1/1/15 is 36,000 (12 months for 2012, 2013, & 2014).
Assuming that sale was a Cash sale, the journal entry would look like this:
1/1/15
Cash (DR) 31,000
Accumulated Depreciation (DR) 36,000
Equipment (CR) 65,000
Gain on Sale of Equipment (CR) 2,000

b) Accumulated depreciation from 1/1/12 to 5/1/15 is 40,000 (12 months for 2012, 2013, 2014, & 4 months for 2015).
Assuming that sale was a Cash sale, the journal entry would look like this:
5/1/15
Cash (DR) 31,000
Accumulated Depreciation (DR) 40,000
Equipment (CR) 65,000
Gain on Sale of Equipment (CR) 6,000

c) Accumulated depreciation from 1/1/12 to 1/1/15 is 36,000 (12 months for 2012, 2013, & 2014).
Assuming that sale was a Cash sale, the journal entry would look like this:
1/1/15
Cash (DR) 11,000
Accumulated Depreciation (DR) 36,000
Loss on Sale of Equipment (DR) 18,000
Equipment (CR) 65,000

d) Accumulated depreciation from 1/1/12 to 10/1/15 is 45,000 (12 months for 2012, 2013, 2014, & 9 months for 2015).
Assuming that sale was a Cash sale, the journal entry would look like this:
10/1/15
Cash (DR) 11,000
Accumulated Depreciation (DR) 45,000
Loss on Sale of Equipment (DR) 9,000
Equipment (CR) 65,000

Not my answers, but I hope this will help you. :)
Answer 2

If Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2012. It has been depreciated using the straight-line method based on an estimated salvage value of $5,000 and an estimated useful life of 5 years. Prepare Pryce Company's journal entries to record the sale of the equipment in these four independent situations.

Pryce Company's journal entries

(a) Sold for $31,000 on January 1, 2015

Jan 1, 2015

Debit Cash  $31,000

Debit Accumulated Depreciation- Equipment $36,000

[($65,000-$5,000)/5 × 3]

Credit Equipment $65,000

Credit Gain on sale of Equipment $2,000

($31,000+$36,000-$65,000)

(To record sales of equipment)

(b) Sold for $31,000 on May 1, 2015

May 1, 2015

Debit Depreciation Expense $4,000

Credit  Accumulated Depreciation- Equipment $4,000

[($65,000-$5,000)/5 × 4/12]

(To record depreciation expense)

May 1, 2015

Debit Cash $31,000

Debit   Accumulated Depreciation- Equipment $40,000

($36,000+$4,000)

Credit Equipment $65,000

Credit Gain on sale of Equipment $6,000

($31,000+$40,000-$65,000)

(To record sale of equipment)

(c) Sold for $11,000 on January 1, 2015

Jan 1, 2015

Debit Cash  $11,000

Debit Accumulated Depreciation- Equipment $36,000

[($65,000-$5,000)/5 × 3]

Debit Loss on sale of  Equipment $18,000

($65,000-$11,000-$36,000)

Credit  Equipment $65,000

(To record sales of equipment)

(d) Sold for $11,000 on October 1, 2015

Oct 1, 2015

Debit Depreciation Expense $9,000

Credit Accumulated Depreciation- Equipment $9,000

[($65,000-$5,000)/5 × 9/12]

(To record depreciation expense)

Oct 1, 2015

Debit Cash  $11,000

Debit Accumulated Depreciation- Equipment $45,000

($36,000+$9,000)

Debit Loss on sale of  Equipment $9,000

($65,000-$11,000-$45,000)

Credit  Equipment $65,000

(To record sales of equipment)

Learn more here:

https://brainly.com/question/23722861


Related Questions

What is happening to this graph when the rvalues are
between - 1 and 1?

Answers

Answer:

Where's The graph?

Step-by-step explanation:

Answer:

There is no graph post the graph

Step-by-step explanation:

I am trying to be a​

Answers

Yes, X will equal 44

(M1219Q3SP) Um aplicativo de transporte de passageiros cobra uma taxa de R$ 0,75 por viagem, chamada de "Custo Fixo". Além dos R$0,75, a tarifa do aplicativo tem preço base inicial de R$2 e cobra R$1,40 por quilômetro rodado e R$ 0,26 por minuto de viagem. Considerando a distância percorrida em quilômetros igual a “q” e o tempo de viagem em minutos igual “t”, qual a função que representa o valor a ser cobrado por uma viagem usando esse aplicativo de transporte de passageiros é:

Answers

Step-by-step explanation:

M1219Q3SP) Um aplicativo de transporte de passageiros cobra uma taxa de R$ 0,75 por viagem, chamada de "Custo Fixo". Além dos R$0,75, a tarifa do aplicativo tem preço base inicial de R$2 e cobra R$1,40 por quilômetro rodado e R$ 0,26 por minuto de viagem. Considerando a distância percorrida em quilômetros igual a “q” e o tempo de viagem em minutos igual “t”, qual a função que representa o valor a ser cobrado por uma viagem usando esse aplicativo de transporte de passageirosM1219Q3SP) Um aplicativo de transporte de passageiros cobra uma taxa de R$ 0,75 por viagem, chamada de "Custo Fixo". Além dos R$0,75, a tarifa do aplicativo tem preço base inicial de R$2 e cobra R$1,40 por quilômetro rodado e R$ 0,26 por minuto de viagem. Considerando a distância percorrida em quilômetros igual a “q” e o tempo de viagem em minutos igual “t”, qual a função que representa o valor a ser cobrado por uma viagem usando esse aplicativo de transporte de passageiros

Solve for x in this equation: 3/4 +|5-x| = 13/4
Step 1: Isolate the absolute value by subtracting
from both sides of the equation.

Answers

Answer: this is correct

Step-by-step explanation:

It says it’s correct

If AD : AB = 2 : 5, the coordinates of point F are . Point E has the coordinates (2.8, -3), and the coordinates of point D are .

Answers

Answer:

(4.4, -4.6) and (4.4, -1.4)

Step-by-step explanation:

Got a 100 on plato

Coordinates are usually denoted by (x,y) the x-value and y-value.

What is a Coordinate?

This has to do with the system which makes use of numbers or coordinates in order to find the location of a point.

Please note that your question is incomplete so I gave you a general overview to get a better understanding of the concept.

Read more about coordinates here:

https://brainly.com/question/17206319

#SPJ2

Can you guess my number?
I am thinking of a number less than 91/2.Write down at least 3 choices of
what my number could possibly be.

Answers

Answer:

47 77 85

EXPLANATION

Advertising. I know I have to write about advertising. What do I know about advertising? I know you have to market a product to a specific audience.
Advertising is used to sell things like soft drinks or cars. I think I need to narrow down my choices of what to advertise Advertisements can be written,
heard, or seen. Should I have a visual advertisement on a new brand of energy drink? Which prewriting strategy is shown above? (4 points)
• Brainstorming
O Freewriting
O Clustering
Journalist Questions

Answers

Answer:

i think brainstorming

Step-by-step explanation:

Write a story about temperatures that this expression could represent: ½ + (-¾)

Answers

Answer:

boom

Step-by-step explanation:

Answer:

so when your in the avatar state it is below zero, so you have to wear warm cloths

Step-by-step explanation:

Lots of points! Will give brainliest!

Answers

Answer:

Step-by-step explanation:

5

The answer is 5......

Use the similar triangles to setup a proportion and solve for x

Answers

Answer:

[tex]\frac{22}{12}[/tex] = [tex]\frac{x}{10}[/tex]

Step-by-step explanation:

ΔUSA ≅ ΔPAL

[tex]\frac{AU}{AP}[/tex] = [tex]\frac{US}{PL}[/tex]

[tex]\frac{22}{12}[/tex] = [tex]\frac{x}{10}[/tex]

x = [tex]\frac{220}{12}[/tex] = [tex]\frac{55}{3}[/tex] = [tex]18\frac{1}{3}[/tex]

If 1 day (24 hours) is equal to 1000 years, what does one minute equal?

Answers

Answer:

Step-by-step explanation:

1440 minutes in a day. meaning that  1.44 years is about a minute

Which expression is equivalent to −78−(−34)

Answers

Answer:

-44

Step-by-step explanation:

Your friend says that he can get a dozen dvds from website for $90

Answers

                              *BEWARE*

                        The website probably sells pirated DVD

Answer:

He is wrong. The total cost would be $111

Step-by-step explanation:

Hope this helps!

HELPPPPPP ASAPPPPP!!!!!
Katie wants to buy a scooter. It costs $100. She has to wait until the scooter goes on sale for at least 35% off before she has enough money buy it. How much money does Katie have to buy the scooter?
$35.00
$60.00
$65.00
$75.00

Answers

Answer:

C) $65.00

hope that helps!

It would be $35.00. Convert fraction into 35/100

Graph each set of integers on a number line.
7. (4, -3, 1,5)
-6-5-4-3-2-1 0 1 2 3 4 5 6
8. (-15, -12, -9, -2)
+++++
-14 -12 -10 8-6
H-
-2
4
9. (8,3, -7,-5)
-8 6 4
-2.
0
2.
4
6
8
10. 1-14, - 7, 10, -1)
++
-15
-12
9
3
0
3
6
9
11. 1-6, -1,0,31
-6-5-4-3-2-1 0 1 2 3 4 5 6

Answers

Answer:

-14 -12 -10 8-6

Step-by-step explanation:

help me how to answer this please​

Answers

Step-by-step explanation:

x^2 + 4x - 21 = 0

(x - 3)(x + 7) = 0

x = 3 or x = -7

x^2 - 14x = -24

x^2 - 14x + 24 = 0

(x - 12)(x - 2) = 0

x - 12 = 0 or x - 2 = 0

x = 12 or x = 2

2x^2 - 12 = 2x

x^2 - x - 6 = 0

(x - 3)(x + 2) = 0

x = 3 or x = -2

Topic: Factorisation

If you like to venture further, feel free to check out my insta (learntionary). I'll be constantly posting math tips and notes! Thanks!

inside each set and subsets .write at least 5 example of each kind of number. integers , whole ,rational ,natural ,irrational​

Answers

Answer:

Integers: is the set of all the numbers that can be created by adding ones or subtracting ones a given number of times to zero.

for example:

4 = 0 + 1 + 1+ 1 +1  is an integer.

-3 = 0 - 1 - 1- 1 is an integer.

0 is also an integer, you add ones zero times.

Then 5 examples of integers can be:

-10, -5, 0, 4, 18

Whole numbers: this set is the set of the positive integers and the zero.

Then 5 examples are:

0, 1, 4, 6, 173

Rational: All the numbers that can be written as a quotient of two integers.

5 examples are:

2/2, 7/3, 4/16, 100/10, -500/1048

Natural: Is the set of the positive integers.

5 examples are:

1, 4, 6, 120, 47

Irrational: Are numbers that have infinite digits after the decimal point, such that there is no pattern in those digits. The squareroots of prime numbers are always irrational numbers.

5 examples are:

pi, √2, √3, √5, √13

where pi = 3.141592653...

Is the relation between the perimeter of a circle and its diameter.

perimeter = diameter*pi.

Define the is a way of expressi a relationship between x and y in set notation it is called an

Answers

Answer:

I think it’s an ordered pair?

Step-by-step explanation:

Factor the expression completely. -24x-6x^5

Answers

Answer: -6x(x^4 + 4)

Step-by-step explanation:  factor the -6 out of the problem

Suppose that 84% of the cases of car burglar alarms that go off are false. Let p be the proportion of false alarms in a random sample of 110 cases of car burglar alarms that go off. Calculate the mean and standard deviation of p and describe the shape of its sampling distribution.

Round your answer to four decimals places if necessary

up= ______
op= ______

The sampling distribution of p is normal or skewed to the right?

Answers

Answer:

0.84 ; 0.0349545 ; symmetric

Step-by-step explanation:

Given that:

p = proportion of false alarm

Sample size (n) = 110

The mean of p

Since 84% of car buglar alarms turns out as false, then, the mean value of p = 0.84

To obtain the standard deviation ; we use the relation ;

√(p(1 - p) / n)

Standard deviation :

√0.84(1 - 0.84) / 110

√0.84(0.16) / 110

√0.1344 / 110

√0.0012218

= 0.0349545

np = 110 * 0.84 = 92.4 (distribution is symmetric or normal)

Which statement is true for all triangles with exterior angle 1 and remote interior angles 2 and 3?

Answers

Answer:

The answer is below

Step-by-step explanation:

The measure of the exterior angle 1 of a triangle is equal to the sum of the corresponding interior angles 2 and 3.

This is evident in the Theorem 3 of a triangle

For example

Given a hypothetical triangle, with the following angle QRS, ∠1, ∠2, and ∠3 are interior angles. And ∠4, ∠5, and ∠6 are the three exterior angles.

We have the following ∠4 = ∠2 + ∠3

∠5 = ∠1 + ∠3

∠6 = ∠1 + ∠2

0.09 divided by 0.81

Answers

Answer:

9

Step-by-step explanation:

Basically just remove the decimals and do 81/9 and you will get nine

You can remove the decimals because you are dividing which means that either way, you will get the same answer

the answer is 9 hope this helps


Jessica has 3 cards in a bag,each marked with a letter. The letters are X, Y, and Z. Without looking, she reaches into the
bag, pulls out a
card, and then puts the card back in the bag. If Jessica does this 3 times, what is the probability she pulls out the X card first, then the Y
card, and then the Z card? In a fraction

Answers

Answer:

Step-by-step explanation: It’s 3/7, 1/27, 3/20 idk which one tho :(

2/9 of my number is 4. what is my number?

Be the brainy one ny answerinng the question OK?

Answers

18 should be your number

Does anyone know this?

Answers

Answer:

no? :I

Step-by-step explanation:

Which inequality is true?
–1.5 > –0.5
Negative one-half
–2.5 < –2
Negative 1 and one-half

Answers

Answer:

-2.5 < -2

Step-by-step explanation:

-3, -2.5, -2,...,0,1 ,2, 3, ...

Answer: the answer is -2.5 =2 1/2,  -0.5 <0, -2.5 <-2 im probably wrong but oh well...

Step-by-step explanation:

Which of the following quantities are continuous ?

Answers

Answer: A. only II

Step-by-step explanation:

Mathematics calculus differentiates things into discrete and continuous. Discrete things have indivisible units, the example will be how many dogs in a village. There is no half dog, it's either one, two, etc. But the distance covered by train can be written as half miles, it's the divisible unit.

The number of books and bracelets also discrete, thus the answer is A.

Assume that process that makes the parts can be altered to adjust the overall mean of the reflectiveness score. Also assume that if an individual part has a score less than 85, then the part is given a passing quality score. The adjusted value of the true mean in population S that would result in approximately 80% of parts from that population being given a passing score is:______

a. greater than 80
b. less than 80
c. equal to 80

Answers

Answer:

c. equal to 80

Step-by-step explanation:

Given that:

The population mean = 80

The standard deviation is = 6

The sample mean = 85

The objective is to find the probability that is less than 85

[tex]P(X < 85) = P( Z < \dfrac{x-\mu}{\sigma})[/tex]

[tex]P(X < 85) = P( Z < \dfrac{85-80}{6})[/tex]

[tex]P(X < 85) = P( Z < \dfrac{5}{6})[/tex]

[tex]P(X < 85) = P( Z < 0.833)[/tex]

From the standard normal table

P(X <85) = 0.7977

P(X< 85) = 79.77%

P(X< 85) = 80%

Therefore, The adjusted value of the true mean in population S that would result in approximately 80% of parts from that population being given a passing score is:  equal to 80    .

WILL GIVE 25 POINTS PLEASE HELP

Answers

Answer:

A: rising B: falling C: falling D: falling

Step-by-step explanation:

i think its correct i might be wrong

Graph the line by plotting any two ordered pairs that satisfy the equation.
-6y = 9

Answers

Answer:

GRAPH IS IN THE PICTURE BELOW

Step-by-step explanation:

Other Questions
The sum of the measures of the three angles is equal to 180 degrees. What is the measure of angle B?The angle measures of a triangle are shown Angle A: (5x - 5) degreesAngle B: (3x + 3) degreesAngle C: (5x) degrees A small fruit basket costs $8 and a large fruit basket costs $24. The small basketcontains 6 apples and 4 pears. The large basket contains 18 apples and 12 pears.a. Write a system of linear equations to represent this situation.b. Can you find the unit price of each fruit? Hope researches the impact of one variable on another. She graphs the data from her research and sees that the data forms a shape that is similar to an arch. What conclusion can Hope draw from her graph? Why is the 19th Amendment to the US Constitution important for the country, bothin the past and today? Band students at Centerville High School sell candy every year as a fundraiser. Last year,they sold 54 boxes of truffles and 92 boxes of peanut brittle, raising a total of $492. Thisyear, they sold 70 boxes of truffles and 92 boxes of peanut brittle, from which they raised$556. How much does the band earn from each item?The band earns $___ from each box of truffles and $____from each box of peanutbrittle. During a meeting with a teacher about what might be on a test, you will not need to ask specific questions about content. Please select the best answer from the choices provided T F Expresiones algebraicas. 1- Escribe en el lenguaje algebraico las siguientes expresiones del lenguaje comn. Dos terceras partes de un nmero. ____________________________ Un nmero menos su doble. ________________________________ La suma de los cuadrados de tres nmeros. _____________________ El producto de dos nmeros divididos por un tercer nmero.________________ La suma de tres nmeros consecutivos. _____________________________ Write an expression equivalent to: -3(6x-10) John decides to use the method of proportions and similartriangles to find the height of a tree. He measures the length of thetree's shadow and finds it is 51 feet long. Then he holds a 12-inchruler perpendicular to the ground and finds that it casts an 18-inchshadow. How tall is the tree? a. 3 ft c. 76.5 ft b. 34 ft d. 204 ft An epeirogenic change:O creates very high mountiansOleaves the crust undeformedOresults in highly volcanic regionsoccurs when rock layers are lifted out of sequence. please help me thx There are 6 ouces of dough and 4 ounces of suase for each person at a party including yourself once you have a total of guest you buy exactly the needed amount of all ingredientsthe dough and sause weigh 130 ounces all together how many ounces of dough did you buy and how many ouces of suase did you buy and how may guests are coming to the party? HELP! WILL GIVE BRANLIEST! Please use the answers provided! WILL MARK BRAINLIEST Read the excerpt from The Call of the Wild.Skeet was a little Irish setter who early made friends with Buck, who, in a dying condition, was unable to resent her first advances. She had the doctor trait which some dogs possess; and as a mother cat washes her kittens, so she washed and cleansed Bucks wounds... Ni, equally friendly, though less demonstrative, was a huge black dog, half bloodhound and half deerhound, with eyes that laughed and a boundless good nature.This passage is important to the story because it shows that BuckA)has left behind his old friends and ways of life.B)has become part of a new family of dogs.C)has started to feel strong and healthy again.D)has given up his need to be a leader. On November 1, Mcgonagall borrowed from Dumbledore, giving him a $12,000, 3 month, 9% note, interest payable at maturity. Mcgonagall made no entry after November 1.On December 31, the end of the accounting period, what entry would Mcgonagall make?A. Interest Payable 180Interest Expense 180B. Interest Expense 180Interest Payable 180C. Interest Expense 180Cash 180D. Interest Payable 180Discount on Notes Payable 180 Who was appointed Secretary of State for supporting John Quincy Adams?A. Andrew JacksonB. John C. CalhounC. Henry ClayD. David Webster Reports produced by the United Nations are consideredO relevant sources, -AO irrelevant sources. -BO biased sources. -CO disputed sources. -D Stella sold five items at agarage sale for $12.50, $2.75,$0.50, $20.00, and $8.50.How much money did shemake? Plz help Is illegal downloading good or bad ? Can you tell three different ideas, good or bad ? your friend is choosing between two music download companies. MyTunes charges $2.50 per song. Great Songs charges $1.50 per song and has a one-time membership fee of $50. When will Great Songs be the better deal?