Mercury inc. purchased equipment in 2016 at a cost of $400,000.

the equipment was expected to produce 700,000 units over the next five years and have a residual value of $50,000. the equipment was sold for $210,000 part way through 2018.

actual production in each year was: 2016 = 100,000 units; 2017=160,000 units; 2018 = 80,000 units.

mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.

required

1) prepare the journal entry to record the sale.

2) assuming that the equipment was sold for $245,000, prepare the journal entry to record the sale.

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)

What type of negotiating strategy requires the supplier to open its books to the purchasers? a. competitive biddingb. cost-based price modelc. price-based modeld. market-based price modele. transparent negotiations

How did the change in textile production affect employment in spinning and weaving for adults and children?