Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on march 31, 2021, rodger construction co. bought

On March 31, 2021, Rodger Construction Co. bought a new concrete mixer. The mixer cost...

50.1K

Verified Solution

Question

Accounting

On March 31, 2021, Rodger Construction Co. bought a new concrete mixer. The mixer cost $74,000. The expected life is 10 years with a salvage value of $4,000 What is the journal entry for depreciation for the month of April assuming straight-line depreciation?

Debit: Depreciation Expense, $7,000; Credit: Accumulated Depreciation, $7,000 Debit: Accumulated Depreciation, $583.33; Credit: Depreciation expense, $583.33 Debit: Depreciation Expense, $583.33; Credit: Accumulated Depreciation, $583.33 Debit: Accumulated Depreciation, $7,000; Credit: Depreciation expense, $7,000

Answer & Explanation Solved by verified expert
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

Other questions asked by students

Q

A particle known as u meson has a charge equal to that of an electron...

Physics
Q

A rocket is launched straight up. It contains two stages (Stage 1 and Stage 2) of...

Physics
Q

Question 9 In AABC and ADEF find the missing side DF in the triangle DEF...

Geometry
Q

a 1 More on Polynomials Question 4 f x x 3 Which information is true...

Basic Math
Q

The function A Age 23st models the amount an individual owes a credit company t...

Algebra
Q

Required information [The following information applies to the questions displayed below.] Matthew (48...

Accounting
Q

In creating partnershipss, partners are allowed to invest cash...

Accounting
Q

Exercise 12-2 (Algo) Net Present Value Analysis [LO12-2] The management of Kunkel Company is considering...

Accounting
Q

The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation...

Accounting
Q

Select a transaction that effects the accounting equation as follows: Transaction Effects a. The owner...

Accounting
Q

2. You have the chance to start a company with the following annual profits (losses)...

Finance
Q

You purchased a $1,000 bond paying a coupon rate of 7.0 percent 10 years ago....

Accounting