Concord Company purchases equipment for $2770 and supplies for $400 from Ivanhoe Co. for $3170 cash.
The entry for this transaction will include:

A. credit to Cash for Ivanhoe.
B. credit to Accounts Payable for Concord.
C. debit to Equipment $2770 and a debit to Supplies $400 for Concord.
D. debit to Equipment $2770 and a debit to Supplies Expense $400 for Ivanhoe.

Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?

Catherine de bourgh has one child, anne, who is 18 years old at the end of the year. anne lived at home for seven months during the year before leaving home to attend state university for the rest of the year. during the year, anne earned $6,000 while working part time. catherine provided 80 percent of anne's support and anne provided the rest. which of the following statements regarding whether anne is catherine's qualifying child for the current year is correct? a.anne is a qualifying child of catherine.b.anne is not a qualifying child of catherine because she fails the gross income test.c.anne is not a qualifying child of catherine because she fails the residence test.d.anne is not a qualifying child of catherine because she fails the support test.

Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken