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

60.1K

Verified Solution

Question

Accounting

PLEASE SHOW ALL YOUR WORK!
Dillard Company starts the year with $10,000 in its cashaccount, $10,000 in its equipment account, $2,000 in accumulateddepreciation and $18,000 in its retained earnings account. Duringthe year Dillard sells the equipment for $8,570. After the sale ofequipment is recorded, the retained earningsaccount will have a balance of $____.
18000-1430 (which was from 10000 of equip minus8570)-2000 is 14570 = wrong
=======================================
Uber Inc purchased a car for $43,100. The car has a salvagevalue of $2,800 and is estimated to be in use for 150,000 miles.What is the accumulated depreciation at the end ofYear 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, 133100.269 is 3576 and166700.269 is 4479 then add 3576+4479 for final answer of 8055 =wrong
===========================================
On January 1, Year 1, Randall Moving Company paid $27,600 cashto purchase a truck. The truck was expected to have a five yearuseful life and an $4,900 salvage value. If Randall uses thestraight-line method, thebook value at the end ofYear 2 is $____
27600-4900 / 5 * 3 = 9080 then 27600-9080 is finalanswer of 18520 = wrong**

Answer & Explanation Solved by verified expert

4.3 Ratings (663 Votes)

See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text

In: AccountingPLEASE SHOW ALL YOUR WORK!Dillard Company starts the year with $10,000 in its cashaccount,...PLEASE SHOW ALL YOUR WORK!Dillard Company starts the year with $10,000 in its cashaccount, $10,000 in its equipment account, $2,000 in accumulateddepreciation and $18,000 in its retained earnings account. Duringthe year Dillard sells the equipment for $8,570. After the sale ofequipment is recorded, the retained earningsaccount will have a balance of $________.18000-1430 (which was from 10000 of equip minus8570)-2000 is 14570 = wrong=======================================Uber Inc purchased a car for $43,100. The car has a salvagevalue of $2,800 and is estimated to be in use for 150,000 miles.What is the accumulated depreciation at the end ofYear 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 and16670*0.269 is 4479 then add 3576+4479 for final answer of 8055 =wrong===========================================On January 1, Year 1, Randall Moving Company paid $27,600 cashto purchase a truck. The truck was expected to have a five yearuseful life and an $4,900 salvage value. If Randall uses thestraight-line method, thebook value at the end ofYear 2 is $______27600-4900 / 5 * 3 = 9080 then 27600-9080 is finalanswer of 18520 = wrong