adriandehoyos1p3hpwc
09.12.2019 •
Business
Dogmart company records depreciation for equipment. depreciation for the period ending december 31 is $1,400 for office equipment and $2,650 for production equipment. prepare the two entries to record the depreciation.
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Ответ:
December 31 (office equipment depreciation expense)
Dr Depreciation Expense - office equipment 1,400Cr Accumulated Depreciation - office equipment 1,400Dec. 31 (production equipment depreciation expense)
Dr Depreciation Expense - production equipment 2,650 Cr Accumulated Depreciation - production equipment 2,650Explanation:
Since depreciation is an expense and it increases, it should be debited.
Since accumulated depreciation is a contra asset account and it increases, it should be credited.
Ответ:
(a) noncumulative
Preferred share: $120,000
Common share: $180,000
(b) cumulative
Preferred share: $123,600
Common share: $176,400
Preferred stock outstanding = 10,000 shares * $100 par value = $1,000,000
(a) if the preferred stock interest is noncumulative, the the total dividend paid of 2 years = preferred stock outstanding x rate x 2 years
= $1,000,000 * 6% * 2 = $120,000
Dividend for common stock = total cash dividend - dividend for preferred stock = $300,000 - $120,000 = $180,000
(b) if the preferred stock interest is noncumulative, the the total dividend paid of 2 years = preferred stock outstanding * (1+ rate)^2 - preferred stock outstanding
= $1,000,000*(1+6%)^2 - $1,000,000 = $123,600
Dividend for common stock = $300,000 - $123,600 = $176,400
Explanation: