Remaz Corp purchased equipment at a cost of $220,000 in January, 2015 . As of January 1, 2016, depreciation of $160,000 had been recorded on this asset. Depreciation expense for 2014 is $50,000 . After the adjustments are recorded and posted at December 31, 2016, what are the balances for the Equipment and Accumulated Depreciation? Equipment Accumulated Depreciation
a.
$220,000 $210,000
b.
$220,000 $ 0
c.
$160,000 $ 50,000
d.
$120,000 $210,000
a
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On January 1, Imlay Company purchases manufacturing equipment costing $95,000 that is expected to have a five-year life and an estimated salvage value of $5,000. Imlay uses the straight-line depreciation method to allocate costs, and only prepares adjustments at year-end. The adjusting entry needed on December 31 of the first year is:
A. Debit Depreciation Expense, $18,000; credit Equipment, $18,000. B. Debit Depreciation Expense, $9,000; credit Accumulated Depreciation, $9,000. C. Debit Depreciation Expense, $90,000; credit Accumulated Depreciation, $90,000. D. Debit Depreciation Expense, $18,000; credit Accumulated Depreciation, $18,000. E. Debit Depreciation Expense, $9,000; credit Equipment, $9,000.
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A. the dependence effect. B. the Hawthorne effect. C. the supplemental effect. D. the reverse channel effect.
A volunteer is working with an organization by participating in a video teleconference call. This scenario is an example of what type of volunteer?
A. spot B. policy C. virtual D. episodic