# Manna manufacturing purchased a machine on january 1

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Manna Manufacturing purchased a machine on January 1, 2015, for \$42,750. At the time of purchase, the machine was estimated to have a life of four years and a residual value of \$7,750. On January 1 2017, Manna determined that the machine had a total useful life of seven years (another five years left) and a residual value of \$4,500. If Manna uses the straight-line method of depreciation, what will be the depreciation expense for the machine in 2017?Select one:
a. \$4,150b. \$2,600c. \$6,800d. \$5,900
Company A sells blankets. The following transactions occurred during March:Mar 3Placed an order on credit with the blanket supplier for 100 blankets at a price of \$70 each. Mar 7Hired a new employee. The employee will earn \$80,000 per year plus benefits.Mar 17Received the order placed on March 3. No payment is yet made to the supplier. Mar 25Sold 60 of the blankets purchased on March 3. The sale was on credit. Mar 28Received half of the payment for the March 25 sale. The journal entries for March 25 include a credit of \$4,200 to which account?
ABC Inc purchased a machine on January 1, 2015, for \$111,433. At the time of purchase, the machine was estimated to have a life of seven years and a residual valueof \$37,750. The company uses the sum-of-the-years'-digits method of depreciation. How much depreciation expense should the company claim for year 2017?
Company A sells blankets. The following transactions occurred during March:Mar 3Placed an order on credit with the blanket supplier for 100 blankets at a price of \$70 each. Mar 7Hired a new employee. The employee will earn \$80,000 per year plus benefits.Mar 17Received the order placed on March 3. No payment is yet made to the
supplier. Mar 25Sold 60 of the blankets purchased on March 3. The sale was on credit. Mar 28Received half of the payment for the March 25 sale. Assuming that there was no inventory in stock prior to March, what is the inventory balance on March 31?