Selected data and additional information from the company's records are presented below:
Balance Sheet Data Cash Accounts receivable Inventories Accounts payable Salaries payable Equipment Accumulated depreciation Bonds payable Common shares Retained earnings Year 2 $235,000$120,00056,00038,00010,000110,00028,000100,000300,00076,000 Year 1 246,000$150,00050,00070,0005,00070,00032,000200,000200,00040,000
Income Statement Data Net sales Cost of goods sold Operating expenses (excluding depreciation expense) Net income (including depreciation expense and gain) Gain on sale of equipment Year 2 $920,000700,000160,00056,0004,000
Additional information:
1. Equpment with a cost of $30,000 and abogk value of \$18,000 was sald for $22,000 during Year 2.
2. Common shares were issued to retire bonds payable during Year 2.
3. The only items affecting retained earnings in Year 2 were net income and dividends declared and paid.
-Refer to Mary Kay Cosmetics.What amount was recorded as depreciation expense during year 2?
Identify the correct sequence of events in the cardiac conduction system.
Understanding the basic concepts and vocabulary of descriptive statistics.
Distinguishing between descriptive and inferential statistics.
Recognizing and defining the types of variables in statistical studies.
Definitions:
Quantity Supplied
The total amount of a good or service that sellers are willing and able to sell at a given price over a specified period.
Excess Demand
A situation where the quantity of a good or service demanded exceeds the quantity supplied at a given price, often leading to shortages.
Price Floor
A government or regulatory minimum price set above the equilibrium price, intended to protect producers.
Surplus
An excess amount of a product or resource relative to demand, often leading to lower prices or stockpiling.