On October 1, 2014, Lyndon, Inc. purchased a computer system for $86,000 from AIT Systems. The computer
Question:
On October 1, 2014, Lyndon, Inc. purchased a computer system for $86,000 from AIT Systems. The computer system had an estimated life of 5 years and residual value of $3,000. Lyndon paid $2,820 for shipping and insurance and hired an engineering company to install and set up the computer system for $7,500. AIT asked for $20,000 cash payment immediately; in addition, AIT accepted a one-year note payable of $50,000 plus 6% interest due on September 30, 2015. The remaining $16,000 is due in 30 days; however, AIT allowed a 2% discount on this $16,000 if Lyndon makes a payment by October 15. Lyndon paid the invoice on October 31. Lyndon uses the straight-line depreciation method.
On July 1, 2016, Lyndon replaced a hard drive costing $12,000 and, as a result, the useful life of the computer system increased by 2 years.
On January 10, 2017, the computer system experienced irreparable damage. Lyndon made a claim to the insurance company. Subsequently, Lyndon received $40,000 cash on January 31, 2017.
Requirements
1. Calculate the acquisition cost of the computer system.
2. Prepare all journal entries for 2014, 2015, 2016, and 2017.
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Req 1 Cash payment 20000 Shipping Insurance 2820 Installation 7500 Note Payable 50000 Accounts Payab...View the full answer
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Rekha Singh
I, Rekha Singh enjoy a lot in teaching students . My aim is to clear the concepts of the concerned topic and to clear the doubts in simple and easy way . And If a student is feeling overloaded then I give them tips on how to better track their work . I divide the work over the week so that they feel less workload . I try my best to perform the ongoing session in the perfect way . I would like to engage the students in teaching session . If my student is engaged , actively participating and able to learn , then my session will be successful . If students are having doubts and problems then my main goal is to solve all the problems step by step by clearing the concepts beacuse I know , that they are struggling and they need help . I also pursued students to form the study group where they can discuss the problems . As we know that no one is perfect and if a student ask a question that I don't know complelty , then I will tell them to give me a moment to look into it and then I would research the question and try my best to solve it . I give my students examples to practice and let my students and get as much practice as they can in each session . If time allows I engage myself in one on one help and in this way they will get individual attention for specific questions . As you that every learner has different needs and it is impossible for the teacher to meet the needs of all their students so in this type of situation , I allow students to ask any question they are having . I also recommend reference book and notes based on the topic . I also listen them making sure , keeping eye contact with them , encouraging them to ask the doubts .I know how important it for my students to feel supported . One of the way I support my students is through constant feedback . I also appreciate them . Another important thing is that I like to encourage my students to be creative and logical in their thinking and to not be afraid to share with me . I pursued them to generate ideas on their own . Sometimes a great way to build a relationship with your students is by sharing a common interest but it is not preferable to discuss personal matters such as your kids or relationship status . In online turion excellent communication skills are more important and I find the instant messenger and other such type of tools is great for resolving a problem . Now I will discuss about the interest of the students . It is not unusual for students to lose interest in a tutoring session , maybe they had a long day or they don't want to be in the session . So my main aim is to engage them tactfully . I like to start my session by connecting with my students , I ask them about their day . I also make sure that I ask them a lot of questions so that they are an active participant throughout the session . I can also use fun example in the session for a moment to get their attention . It is great to use the whiteboard to draw out different examples in face to face tutoring session . Many of my students are visual learners so I think visual elements can make a session more engaging . As you know that tutoring is not always easy and sometimes I find myself in stressful situation . To manage such types of pressure like difficulty in getting the students attention . One strategy I have find to try to reconnect with the students . Another way to handle stress is to take care of myself by getting enough sleepy and adapting balanced and nutritionious diet . Tutoring is conducted on and one to one basis , meaning that you get know your pupils very well . In order to create a productive working environment , I also try to build a relationship with my students discussing shared interests and there extra curricular activities . Another crucial skill is to devise lessons that are accessible for all my students and I have already discussed previously that in online teaching one has to use computers in an engaging fashion to stimulate learning . Teaching on computer , you will also have to use link to videos , images and audio files online in order to compliment your lessons . Let's not forget tutoring over a camera is difficult . It places a huge amount of emphasis on your words , as students are not able to see all of gestures you might make to help you explain what you are teaching . I have to be therefore very confident at using teacher talk using my language carefully in interacting with individual . I feel I should be at the peek of my subject knowledge and have to prepare a lot of resources like question papers or examples . I used this modelling in the classroom frequently in order to provide students with a glimpse of what they are working towards so such materials are very valuable . I mostly engaged in order to help struggling students and it requires a lot of experience targeting specific problem areas in order to help students to improve and progress . Sometimes I had to research areas of my subject where I'm not so confident in order to teach.
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ISBN: 978-0132889711
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Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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