Sandhill Co. sells office equipment on July 31, 2017, for $22,430 cash. The office equipment originally cost $77,870 and as of January 1, 2017, had accumulated depreciation of $36,830. Depreciation for the first 7 months of 2017 is $4,580. Prepare the journal entries to (a) update depreciation to July 31, 2017.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Sandhill Co. sells office equipment on July 31, 2017, for $22,430 cash. The office equipment originally cost $77,870 and as of January 1, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The Sherman Antitrust Act (1890)
Answers (1)
Vincent enjoys investing his money in ways that can generate a return. He realizes that also a chance that his investment will decrease in value. This chance is known as A. Opportunity cost B. Risk C. Recession D. Deterioration
Answers (1)
Which of the following is not included in the manufacturing industry cluster?
Answers (1)
Why would the Fed intentionally use contractionary monetary policy to reduce real GDP? A. The Fed intends to reduce unemployment, which occurs if real GDP is greater than potential GDP B.
Answers (1)
One British pound can purchase 1.82 U. S. dollars today in the foreign exchange market and currency forecasters predict that the U. S. dollar will depreciate by 12 percent against the pound over the next 30 days.
Answers (1)
New Questions in Business
Other things constant, an increase in marginal tax rates will a. decrease the supply of labor and reduce its productive efficiency. b. decrease the supply of capital and decrease its productive efficiency. c.
Answers (1)
As an elected official, you have been informed that real GDP is below its potential and that action should be taken to encourage economic growth and bring the economy to its long-run equilibrium. The marginal propensity to consume is 0.
Answers (1)
Misrepresentation of a product does not trigger, but represents an intentional tort.
Answers (1)
Accounts Amounts Cash received from sale of products to customers $ 31,000 Cash received from the bank for long-term loan 36,000 Cash paid to purchase factory equipment (41,000) Cash paid to merchandise suppliers (10,200) Cash received from the sale
Answers (1)
Because of uncertainty about future inflation, the union devotes a large quantity of resources to monitoring inflation indicators in order to maximize its financial position. this illustrates the fact that:
Answers (1)