Question and answer
Sales revenue for a sporting goods store amounted to $215,000 for the current period. All sales are on account and are subject to a sales tax of 7%. Which of the following would be included in the journal entry to record these sales? (Points : 3) A debit to Sales revenue for $215,000 A credit to Accounts receivable for $215,000 A debit to Sales tax payable for $15,050 A debit to Accounts receivable for $230,050
Question|Rated good
Asked 2/24/2013 4:35:15 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
f
Get an answer
Original conversation
User: Sales revenue for a sporting goods store amounted to $215,000 for the current period. All sales are on account and are subject to a sales tax of 7%. Which of the following would be included in the journal entry to record these sales? (Points : 3) A debit to Sales revenue for $215,000 A credit to Accounts receivable for $215,000 A debit to Sales tax payable for $15,050 A debit to Accounts receivable for $230,050

Weegy: The following would be included in the journal entry: A debit to accounts receivable for $230,050.
Expert answered|debnjerry|Points 44319|

User: A company purchased equipment for $100,000 in 2012. The machine will be used for 10,000 hours and will have a residual value of $20,000. The equipment was used for 2,400 hours in 2012. How much depreciation will be recorded in 2012 if the company elects the units-of-production method? (Points : 3) $19,200 $20,000 $10,000 $24,000

Weegy: (100,000-20,000)/10,000 = $8 depreciation per hour of use. 2,400 * 8 = 19,200. Therefore the depreciation to be recorded in 2012 is $19,200.
Expert answered|debnjerry|Points 44319|

Question|Rated good
Asked 2/24/2013 4:35:15 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The reason or impetus for any behavioral act is referred to as (Points : 2) reacting. competence. knowledge. motivation.
Weegy: The reason or impetus for any behavioral act is referred to as motivation. (More)
Question
Expert Answered
Asked 2/23/2013 8:42:14 PM
0 Answers/Comments
Progress toward achieving a goal is based on decreasing the discrepancy between one's current state and goal state. (Points : 2) True False
Weegy: Progress toward achieving a goal is based on decreasing the discrepancy between one's current state and goal state. Answer is False User: A greater sense of self-efficacy is associated with (Points : 2) a very steep avoidance gradient regarding goal achievement. a very steep approach gradient regarding goal achievement. a greater likelihood of persisting in trying to achieve a goal. setting lower level as opposed to higher level goals. (More)
Question
Expert Answered
Updated 8/14/2022 1:47:06 PM
1 Answer/Comment
A greater sense of self-efficacy is associated with a greater likelihood of persisting in trying to achieve a goal.
Added 8/14/2022 1:47:06 PM
This answer has been confirmed as correct and helpful.
Adjusting entries NEVER involve: (Points : 3) expenses cash liabilities revenues
Weegy: Adjusting entries NEVER involve liabilities. User: On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000 hours in 2013 and 12,000 in 2014. What is depreciation expense for 2013 if the company uses double-declining-balance depreciation? $ 6,667 $ 6,000 $13,333 $12,000 (More)
Question
Expert Answered
Updated 5/31/2023 11:57:39 PM
1 Answer/Comment
To calculate the depreciation expense for 2013 using the double-declining-balance method, we need to determine the machine's depreciation rate.

First, we calculate the machine's useful life in hours:
Useful life = Total hours expected to be used - Hours already used
Useful life = 24,000 hours - (8,000 hours + 12,000 hours)
Useful life = 4,000 hours

Next, we calculate the machine's depreciation rate:
Depreciation rate = (100% / Useful life) * 2
Depreciation rate = (100% / 4,000 hours) * 2
Depreciation rate = 0.05 or 5%

Finally, we calculate the depreciation expense for 2013:
Depreciation expense = Depreciation rate * Machine's cost
Depreciation expense = 5% * $40,000
Depreciation expense = $2,000

Therefore, the depreciation expense for 2013 using the double-declining-balance method is $2,000.
Added 5/31/2023 11:57:39 PM
This answer has been confirmed as correct and helpful.
Which of the following accounts is an asset? Cash Notes payable Drawing Expenses
Weegy: Cash is an asset. (More)
Question
Expert Answered
Updated 296 days ago|9/25/2023 10:19:59 AM
0 Answers/Comments
39,298,363
questions answered
Popular Conversations
Which of the following sentences includes a preposition?
Weegy: A preposition is a word used to link nouns, pronouns, or phrases to other words within a sentence. User: ...
7/7/2024 3:25:43 AM| 5 Answers
What is .6 divided by 19?
Weegy: 95 divided by 19 is 5. User: What is .6 divided by 10? Weegy: 95 divided by 30 = 3.167 User: 3/5 as a ...
7/15/2024 12:38:45 AM| 4 Answers
You need to find the narrator's thoughts and feelings to establish ...
Weegy: You need to find a narrator s thoughts and feelings to establish a point-of-view narrator. User: Which ...
7/7/2024 3:30:31 AM| 4 Answers
During the reading process, informational graphics can help by
Weegy: During the reading process, graphics can help by: highlighting informational elements. User: Which text ...
7/12/2024 6:32:18 AM| 3 Answers
S
L
P
Points 171 [Total 283] Ratings 0 Comments 171 Invitations 0 Offline
S
L
Points 25 [Total 4020] Ratings 0 Comments 25 Invitations 0 Offline
S
L
1
1
1
1
Points 20 [Total 2389] Ratings 2 Comments 0 Invitations 0 Offline
S
L
P
Points 15 [Total 210] Ratings 0 Comments 15 Invitations 0 Offline
S
L
Points 12 [Total 2837] Ratings 0 Comments 12 Invitations 0 Offline
S
Points 10 [Total 44] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
Points 6 [Total 69] Ratings 0 Comments 6 Invitations 0 Offline
S
Points 3 [Total 8] Ratings 0 Comments 3 Invitations 0 Offline
S
L
Points 3 [Total 206] Ratings 0 Comments 3 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.