Question
choose the right answer only On 01-01-2021 the office supplies account had a balance of $700. By 2021, the company had purchased supplies for $1,000.
choose the right answer only
On 01-01-2021 the office supplies account had a balance of $700. By 2021, the company had purchased supplies for $1,000. In 2022, the business purchased supplies for $1,000 and consumed office supplies for $900. On 2023-01-01 the company had supplies of $300. All purchases are accounted for in the office supplies account. In 2021, the office supplies consumed account amounts to: Question options:
$700
$1,700
$1,500
$1,000
none of the above
$0
chooose right answer only
The IJK company purchased a machine on 2015-05-01 at a cost of $100,000. The machine is depreciated using the declining balance method. The service life of the machine is 6 years. The declining balance rate is 12%. The residual value of the machine is $1000. The company sold the machine on 01-01-2021 for $50,000. The net book value of the machine as of 01-01-2021 is ? (Where applicable, round to the nearest dollar, for example: 23.15 = 23; 23.65=24): Question options:
$51,449
No answer fits
$50,000
$1,449
$48,551
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