Oriole company had the following assets on january 1, 2022.

item cost purchase date useful life
(in years) salvage value
machinery

$74,000 jan. 1, 2012 10 $ 0
forklift

33,000 jan. 1, 2019 5 0
truck

39,400 jan. 1, 2017 8 3,000

during 2022, each of the assets was removed from service. the machinery was retired on january 1. the forklift was sold on june 30 for $12,300. the truck was discarded on december 31.

journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. the company uses straight-line depreciation. all depreciation was up to date as of december 31, 2021. (credit account titles are automatically indented when the amount is entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.

to record depreciation expense on forklift

to record sale of forklift

to record depreciation expense on truck

to record sale of truck

Corey is trying to save money to buy a new tv. he invests $800 into an account paying 6.5% simple interest. for how long must he save if the tv costs $950? a. 2 years b. 3 years c. 4 years d. 5 years

He set of companies a product goes through on the way to the consumer is called the a. economic utility b. cottage industry c. market saturation d. distribution chain

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time