Pecos Yo Company purchased a machine for $100,000 in cash on August 1 of Year 1. The machine has an estimated useful life of 10
years and an estimated salvage value of $10,000. Pecos Yo Company uses the straight-line method for computing depreciation expense. Which ONE of the following is included in the journal entry necessary to record depreciation expense on the machine for Year 2?
a. CREDIT to Accumulated Depreciation for $18,000
b. CREDIT to Accumulated Depreciation for $5,250
c. CREDIT to Accumulated Depreciation for $14,750
d. CREDIT to Accumulated Depreciation for $12,750
e. CREDIT to Accumulated Depreciation for $9,000
<span>The following properties can be classified as those associated with metal elements: having a high density, malleable, and having low melting points.
The following properties can be classified as those associated with non-metal elements: dull and nonreactive to acids.</span>
The answerchoicethat correctly describes the impact of the supplies purchase on the financial statements is A. total assets will remain unchanged.
<h3>What is an Asset? </h3>
This refers to financialpropertyowned by a company or individual that hassomedegreeofvalue.
Hence, we can see that given the fact that a company purchased suppliesforcashthat would be used in a fewmonths,this would leave the totalassetsunchanged.
Ethno-centrism is the act of judging or prejudice shown to others because of their ethnic background.
Since Naomi was asked insensitive questions and was spoken to very slowly shows a case of low ethno-centrism.
This degree of ethno-centrism occurs when someone displays insensitivity and little hostility in their verbal and nonverbal dealings with minority groups.
In a business world, segregation of duties is important to have a sound internal control. The employee handing cash/check collection is prohibited from updating its customer's subsidiary ledger and recording of transactions in the books. This will eliminate fraud and misappropriation of funds.
