Company XYZ purchased the following PPE:Item Purchased Date ofCostEstimate UsefulPurchaseLifeAirconFebruary 18,30,00052015LaptopMarch 14, 201557,0003May 11, 2015November 20,Tables14,000Desktop26,05032015WhiteboardJanuary 4, 2016 24,000The company charges a monthly depreciation on the month of purchase. What is the depreciationexpense of Company XYZ for the year ending December 31, 2015?

solution note :depreciation is charged for whole month for month of purchase Aircon Annual…

Answered: Company XYZ purchased the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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80% ACC Question 3 The following information for the period ending June 30, 2015, was taken from the books of Furnishing Homes, manufacturers of decorative tiles. Carriage in on raw materials Opening sock of raw materials Purchase of raw materials Purchases returns 12 000 40 000 160 000 Closing stock of raw materials Production wages Direct factory wages Work in progress- July 1, 2014 Work in progress- June 30, 2015 Overhead: 62 000 30 000 47 000 6 000 13 000 21 000 8 000 Insurance Salaries Light & power Telephone Depreciation Rent 28 000 11 000 7 500 12 500 15 000 Each overhead cost is apportioned on the following basis: Factory Selling & distribution General administration 50% 20 % 30% The number of decorative tiles done and sold during the period was 50 000 at $7 per tile.
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eBook Show Me How Question Content Area Break-Even Sales Under Present and Proposed Conditions Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $188 per unit during the current year. Its income statement is as follows: Sales $188,000,000 Cost of goods sold (99,000,000) Gross profit $89,000,000 Expenses: Selling expenses $15,000,000 Administrative expenses 14,900,000 Total expenses (29,900,000) Operating income $59,100,000 The division of costs between variable and fixed is as follows: Variable Fixed Cost of goods sold 70% 30% Selling expenses 75% 25% Administrative expenses 50% 50% Management is considering a plant expansion program for the following year that will permit an increase of $11,280,000 in yearly sales. The expansion will increase fixed costs by $3,500,000 but will not affect the relationship between sales and variable costs. 7. If the proposal is accepted…
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Journalize this transaction: Purchased from Kraft Co. $4,000 of inventory on account. Edit View Insert Format Tools Table 12pt v Paragraph |BIUAV O words MacBook Pro On-line F En ACCT 101 One Test O 10611 As Aes ferret Oul tntiers
80% ACCTI201 Question 3 The following information for the period ending June 30, 2015, was taken from the books of Furnishing Homes, manufacturers of decorative tiles. 2$ 12 000 40 000 Carriage in on raw materials Opening sock of raw materials Purchase of raw materials Purchases returns 160 000 62 000 30 000 Closing stock of raw materials Production wages Direct factory wages Work in progress- July 1, 2014 Work in progress- June 30, 2015 Overhead: 47 000 6 000 13 000 21 000 8 000 28 000 11 000 7 500 12 500 15 000 Insurance Salaries Light & power Telephone Depreciation Rent Each overhead cost is apportioned on the following basis: Factory Selling & distribution General administration 50% 20% 30% The number of decorative tiles done and sold during the period was 50 000 at $7 per tile.
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CALCULATOR FULL SCREEN PRINTER VERSION 1 BACK NEXT CES Exercise 6-09 a1,a2, b (Part Level Submission) а-с Moath Company reports the following for the month of June. a- Units Unit Cost Total Cost art June 1 Inventory 200 $5 $ 1,000 12 Purchase 400 6. 2,400 on) 23 Purchase 300 7 2,100 30 Inventory 100 udy (a1) MYour answer is correct. Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) Weighted Average Unit Cost 6.11 SHOW SOLUTION LINK TO TEXT
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Company XYZ purchased the following PPE: Estimate Useful Life Item Purchased Date of Cost Purchase Aircon February 18, 30,000 5 2015 March 14, 2015 57,000 May 11, 2015 November 20, Laptop 3 Tables 14,000 26,050 Desktop 3 2015 Whiteboard January 4, 2016 24,000 5