PLEASE SHOW ALL YOUR WORK! Dillard Company starts the year with $10,000 in its cash account,...

PLEASE SHOW ALL YOUR WORK!

Dillard Company starts the year with $10,000 in its cash account, $10,000 in its equipment account, $2,000 in accumulated depreciation and $18,000 in its retained earnings account. During the year Dillard sells the equipment for $8,570. After the sale of equipment is recorded, the retained earnings account will have a balance of $________.

18000-1430 (which was from 10000 of equip minus 8570)-2000 is 14570 = wrong

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Uber Inc purchased a car for $43,100. The car has a salvage value of $2,800 and is estimated to be in use for 150,000 miles. What is the accumulated depreciation at the end of Year 2 assuming mileage used in year 1 was 13,310, year 2 was 16,670, and year 3 was 18,040? $_______

43100-2800/150000=0.26866666, 13310*0.269 is 3576 and 16670*0.269 is 4479 then add 3576+4479 for final answer of 8055 = wrong

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On January 1, Year 1, Randall Moving Company paid $27,600 cash to purchase a truck. The truck was expected to have a five year useful life and an $4,900 salvage value. If Randall uses the straight-line method, thebook value at the end of Year 2 is $______

27600-4900 / 5 * 3 = 9080 then 27600-9080 is final answer of 18520 = wrong

Expert Solution

Solution:

ekkarill92 answered 1 year ago

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