Nash corporation owns machinery that cost $24,400 when purchased on july 1, 2017. depreciation has been recorded at a rate of $2,928 per year, resulting in a balance in accumulated depreciation of $10,248 at december 31, 2020. the machinery is sold on september 1, 2021, for $6,344. prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. no.
account titles and explanation debit credit
(a) depreciation expense ? ?
accumulated depreciation-machinery ? ?
(b) cash 36330
accumulated depreciation-machinery ? ?
machinery ? ? gain on disposal of machinery ? ?

The text states that the committee “expects inflation to rise gradually toward 2% over the medium term as the labor market improves further….” why would the fomc expect inflation to rise because of improvements in the labor market?

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.