A factory machine was purchased for $393000 on January 1, 2018. It was estimated that it would have a $74000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.
Required:
1. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2018 would be ________.
A) $51090.
B) $41470.
C) $82940.
D) $74000.
Answers
Answer:
Annual depreciation= $41,470
Explanation:
Giving the following information:
Purchasing price= $393,000
Salvage value= $74,000
The machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.
To calculate the depreciation expense using the units of activity method, we need to use the following formula on each year:
Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated
Annual depreciation= [(393,000 - 74,000)/30,000]*3,900
Annual depreciation= $41,470
Related Questions
True or False? The placement of a product within a store, or online, can determine the sales performance of that product.
Answers
Product Placement. a form of advertising in which name brand goods are placed in sports & entertainment programs. embedded marketing.
Answer:
true
Explanation:
On January 1 of the current year, Barton Corporation issued 10%, 5-year bonds with a face value of $200,000. The bonds are sold for $191,000. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, 5 years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the current year ended December 31 is
Answers
Answer:
$21,800
Explanation:
Calculation to determine The bond interest expense for the current year ended December 31 is
First step is to calculate the Semiannual interest
Semiannual interest=($200,000 * 0.10 * 6/12)
Semiannual interest = $10,000
Second step is to calculate the Discount on bonds payable
Discount on bonds payable=[($200,000 - $191,000)/10]
Discount on bonds payable=($9,000 / 10)
Discount on bonds payable=$900
Third step is to calculate the Semiannual interest expense
Semiannual interest expense=($10,000 + $900) Semiannual interest expense= $10,900
Now let calculate the bond interest expense
Bond interest expense=($10,900 * 2)
Bond interest expense=$21,800
Therefore The bond interest expense for the current year ended December 31 is $21,800
Which resources would be classified as a land factor of production?
A)
milk
B)
petroleum
C)
timber
D)
tractor
E)
workers
Answers
Explanation:because is a resouce that is in land factor of production
Timber and Petroleum can be classified as a land factor of production
Land is part of the four factors of production. The other three factors are Capital, Labour and Entrepreneur.
Let understand clearly that Land refers to anything that comes from the land and serves as resources used to produce goods and services.Capital is the factor that provides the money needed to run the business operation. The reward is Interest.Labour is the factor that helps the business run its day to day operation and this includes workers, staff etc. The reward for labor is Wages and salary.Entrepreneur is the factor that control and manage the other three factor of production. The reward for entrepreneur is Profit.
In conclusion, Petroleum and Timber are part of land and they serves as resources used to provide refined fuel, furniture and so on.
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What is the best advice for conducting an effective Internet search?
a. Avoid using special characters such as quotation marks or
asterisks.
b. Select your favorite search tool and stick with it.
c. Use nouns as search words.
d. Use at least ten keywords in one search to maximize your
"hits."
I
Answers
Answer: c. Use nouns as search words
Explanation:
When conducting and effective internet search, using nouns as search words is key. It should be noted that prepositions, modifiers and verbs are typically not being regarded by search engines and therefore the main search words should be noun.
One should also be specific and also use correct spellings. Therefore, the correct answer is option C.
Explain one disadvantage of using a bonus system to motivate employees.
Answers
People who start new businesses or bring new products to market are called __________________.
Answers
Explanation:
People who start new businesses or bring new products to market are called an entrepreneur.
CULLUMBER COMPANY
Trial Balance
June 30, 2017
Debit Credit
Cash $ 5,240
Accounts Receivable $ 5,340
Supplies 2,150
Equipment 5,150
Accounts Payable 5,836
Unearned Service Revenue 2,550
Common Stock 11,150
Dividends 800
Service Revenue 5,630
Salaries and Wages Expense 3,530
Utilities Expense 945 $20,465 $27,856
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors:______.
1. Cash received from a customer on account was debited for $760, and Accounts Receivable was credited for the same amount. The actual collection was for $706.
2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340.
3. Services were performed on account for a client for $900. Accounts Receivable was debited for $90 and Service Revenue was credited for $900.
4. A debit posting to Salaries and Wages Expense of $735 was omitted.
5. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.
6. Payment of a $600 cash dividend to Cullumber Company's stockholders was debited to Salaries and Wages Expense for $600 and credited to Cash for $600.
Prepare a correct trial balance.
CULVER CO.
TRIAL BALANCE
JUNE 30, 2017
Debit Credit
Cash
Accounts Receivable
Supplies
Equipment
Accounts Payable
Unearned Service Revenue
Common Stock
Retained Earnings
Service Revenue
Salaries and Wages Expense
Office Expense
Dividends
Totals
Answers
Answer:
Realidades 2 WKBK page 109
Explanation:
Realidades 2 WKBK page 109
ayee free me and my girl daelin we locked up
#lutherwood indianapolis in
Answers
ummmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm ok? ;-;
On January 1, 2021, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To acquire these shares, Moody issued $400 in long-term liabilities and also issued 40 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Moody paid $20 to lawyers, accountants, and brokers for assistance in bringing about this acquisition. Another $15 was paid in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows:
Moody Osorio
Cash $180 $40
Receivables 810 180
Inventories 1,080 280
Land 600 360
Buildings (net) 1,260 440
Equipment (net) 480 100
Accounts payable (450) (80)
Long-term liabilities (1,290) (400)
Common stock ($1 par) (330)
Common stock ($20 par) (240)
Additional paid-in capital (1,080) (340)
Retained earnings (1,260) (340)
Note: Parentheses indicate a credit balance.
In Moody's appraisal of Osorio, three assets were deemed to be undervalued on the subsidiary's books: Inventory by $10, Land by $40, and Buildings by $60. Compute the amount of consolidated inventories at date of acquisition.
A. $1,080.
B. $1,420.
C. $1,065.
D. $1,425.
E. $1,440.
Answers
Answer:
$1,370
Explanation:
IFRS 3 states that Acquirer is deemed to have taken over the Assets and Liabilities at their Acquisition Fair Value in Acquired records.
Therefore,
We need to first revalue the Inventory shown in Osorio records upwards by $10.
Then we combine 100% of Moody`s Inventory with 100% of Osorio fair valued Inventory.
Calculation of Consolidated Inventory Balance
Moody`s Inventory $1,080
Osorio fair valued Inventory (280 + 10) $290
Inventory Balance $1,370
What is the difference between social marketing and advertising?
Answers
Answer:
Social media marketing is any social media action you take that is unpaid. If you're posting about your blogs, sharing info with your followers, or commenting in social media groups, you're marketing. Social media advertising is any action you take on social media that is paid.
Explanation:
When did the FBI establish?
Answers
Answer:
july26 in 1908 United States
what is the minimum wage for SA
Answers
the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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An example of an investing activity on a statement of cash flows is:
Multiple Choice
Paying wages of employees.
Withdrawals by the owner
Purchase of land.
Selling inventory.
Contribution from owner.
Answers
An example of an investing activity on a statement of cash flows is Purchase of land.
Which of the following actions falls under the category of investing?Long-term investments, long-term purchases, taking notes payable, lending loans, and a select few other investments aside from cash and cash equivalents are all included in investing operations.
What exactly is a financial activity?In accounting, the term "investing activities" refers to the acquisition and disposal of long-term assets as well as other corporate investments over a certain reporting period. The reported investing activities of a company provide information on the total investment gains and losses it incurred over a specific time period.
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Your parents invested $1000 into an account when you were born. The account has an interest rate of 6% and compounds monthly (12 times per year). Calculate how much the account would be worth on your 20th birthday if no other activity took place.
Answers
Answer:
$3,310.20
Explanation:
The applicable formula in this case is
A = P x ( 1 + r )^ n
Where A= amount after 20 years
P is principle amount= $1000
r is interest rate = 6 % or 0.06 per year: monthly interest = 0.06/12
n is number of periods = 12 months x 20 years
A = $1000 x ( 1 + 0.005) ^240
A = $1000x (1.005) ^ 240
A =$1000 x 3.31020447580
A =$3,310.2044
the message was written by the marketing manager of an online retailer of baby related products in the hope of becoming a retail outlet for Inglesina strollers and high chairs
Answers
It should be noted that the message should be reviewed so that it follows the writing business message guidelines.
How to write a marketing messageThe complete information is that one should read the email message and revise it so that it follows the general writing business message guidelines.
Therefore, the message will be written thus:
To: Inglensia
Subject: Retailing strollers from Best Baby Gear
Our company, Best Baby Gear, specializes in the best products for the target market. We constantly look for products and suppliers that are good, and classy to take their place alongside other carefully selected products.
We want every product to be a top-drawer success. After careful consideration, we concluded that your Inglesina lines meet our needs and therefore, we would like to add it. This collaboration will enhance our growth.
Please reach out to us for further discussions.
Warm Regards,
Best Baby Gear
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review the 60 Minutes video on Mark Zuckerberg
The person name and their position at the company
Examples of how their leadership style or qualities impact employee performance and morale
Answers
The leader's leadership style has an impact on group performance and goal achievement since it influences employee behavior.
What is leadership about?A leader's leadership style relates to how he or she directs, motivates, and manages others. A person's leadership style also influences how they strategize and implement plans while keeping stakeholders' expectations and the well-being of the team in mind.
Managers are in charge of guaranteeing team success, fostering a pleasant environment, and solving challenging problems. It motivates people to work harder and see their leaders as more effective.
Effective leadership requires strong communication, inclusiveness, and empowerment, and it has a beneficial effect on morale. A team's morale will rise when communication from the top to the bottom improves under competent leadership.
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The least expensive type of marketing research method is a(n)
Answers
1. By giving yourself a safety cushion on all sides of the vehicle you improve your ability to? 1. stop 2. maneuver 3. think 4. all of the above
Answers
Answer: 4
Explanation: All of the above
analyze product, price and cost in relationship in the market
Answers
Answer:
ok
Explanation:
wjeres the picthere is no picyure attached
Fill in the blank with the correct response.
____ are STEM professionals who collect, analyze, and interpret data.
Answers
Answer:
to bad this isn't multiple choice
Explanation:
but it would only make sense if it were scientists. sorry if I'm wrong
From the collected data, the statistician makes use of statistical concepts to sift through large data sets, develop data interpretation and deduce relevant information from the data and present meaningful conclusion to the relevant bodies in fields such as education, manufacturing, marketing, government and healthcare.
From the collected data, the statistician makes use of statistical concepts to sift through large data sets, develop data interpretation and deduce relevant information from the data and present meaningful conclusion to the relevant bodies in fields such as education, manufacturing, marketing, government and healthcare.Biologists research, collect data and measurements, perform tests and experiments, and analyze and interpret their findings. These science professionals are required to have a bachelor's degree in biology for an entry-level position.
The normal balance of an account is:A. The side on which increases are recorded.B. The debit side.C. The credit side.D. The side on which decreases are recorded
Answers
The normal balance of an account is the side on which decreases are recorded. The side of an account's balance that is positive or rising is known as the normal balance. For asset and expense accounts, the normal balance is on the debit side; for income, equity, and liability accounts, it is on the credit side. The answer is OPTION D.
Various account types are available from banks. Savings, current, salary, and BSBDA accounts are a few typical examples. Additionally, fixed and recurring deposit accounts are available. Almost all accounts come with a variety of services from banks, such as debit cards, net banking, and other things. To access your accounts, you can also download banking applications. A personal account, as opposed to a nominal account, is a bank account. The answer is OPTION D.
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Precision Systems manufactures CD burners and currently sells 18,500 units annually to producers of laptop computers. Jay Wilson, president of the company, anticipates a 15 percent increase in the cost per unit of direct labor on January 1 of next year. He expects all other costs and expenses to remain unchanged. Wilson has asked you to assist him in developing the information he needs to formulate a reasonable product strategy for next year.
You are satisfied that volume is the primary factor affecting costs and expenses and have separated the semivariable costs into their fixed and variable segments. Beginning and ending inventories remain at a level of 1,000 units. Current plant capacity is 20,000 units. The following are the current-year data assembled for your analysis.
Sales price per unit $100
Variable costs per unit:
Direct materials $10
Direct labor $20
Manufacturing overhead and selling and administrative expenses 30 60
Contribution margin per unit (40%) $40
Fixed costs $390,000
Required:
a. What increase in the selling price is necessary to cover the 15 percent increase in direct labor cost and still maintain the current contribution margin ratio of 40 percent?
b. How many units must be sold to maintain the current operating income of $350,000 if the sales price remains at $100 and the 15 percent wage increase goes into effect?
c. Wilson believes that an additional $700,000 of machinery (to be depreciated at 20 percent annually) will increase present capacity (20,000 units) by 25 percent. If all units produced can be sold at the present price of $100 per unit and the wage increase goes into effect, how would the estimated operating income before capacity is increased compare with the estimated operating income after capacity is increased? Prepare schedules of estimated operating income at full capacity before and after the expansion.
Answers
a. An increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.
b.The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The required sales volume is 18,500 units.
c. The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units
a. To maintain the current contribution margin ratio of 40 percent, the selling price per unit needs to be increased by 20 percent [(15 percent wage increase) / (current contribution margin ratio)].
Therefore, an increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.
b. To maintain the current operating income of $350,000, the number of units that must be sold can be calculated using the contribution margin ratio.
The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The formula for calculating the required sales volume is:
(Number of units) = (Fixed costs + Desired operating income) / Contribution margin per unit
Plugging in the values, we have:
(Number of units) = ($390,000 + $350,000) / $40 = 18,500 units
c. Before the capacity expansion, the estimated operating income can be calculated using the current production and sales volume of 18,500 units.
The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units.
The schedules of estimated operating income at full capacity before and after the expansion can be prepared by multiplying the respective sales volumes with the contribution margin per unit and subtracting the fixed costs and the wage increase.
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Which of the following is not a financial intermediary?
commercial banks
credit unions
investment banks
Standard & Poors
Answers
Answer:
i think commercial banks aren't
What do researchers mean by "secondary data"?
OA. Data collected after any research to gather primary data
OB. Data considered less important than primary data
OC. Data collected specifically for the researcher's own study
OD. Information from research already conducted for another purpose
Answers
The statement do researchers mean by "secondary data" is: OD. Information from research already conducted for another purpose.
What is secondary data?Government papers, scholarly publications, surveys, databases and other previously done research are just a few examples of the sources from which secondary data may be derived.
To find answers to their own research questions or to obtain new insights into a particular area of interest, researchers analyse and interpret this current data. Researchers might avoid spending the time and money necessary for gathering primary data by employing secondary data instead.
Therefore the correct option is D.
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If Chelsea decides to wait two years
before making the down payment,
instead of one, how much money
will she have after two years?
Answers
discuss a time when you succeeded landing the job that you want! as how you were able to get the job? What resources did you use?
Answers
To succeed in landing the job you want, you need to take the following steps:
Step 1: Identify the job that you want Before you start applying for jobs, you need to know what job you want. Identify the job position and the industry that you want to work in. Make a list of the companies that you would like to work for. Doing research about the company and job position is necessary to be able to tailor your resume and cover letter to match their requirements.
Step 2: Update your resume and cover letterThe resume and cover letter are two important tools in the job search process. It’s essential to keep them updated. It is essential to tailor the resume and cover letter for the job position you want. Be specific about the skills and experience that match the job description.
Step 3: NetworkIt’s important to network and make connections with people who work in your industry of interest. Networking could be done through LinkedIn, attending job fairs, or joining clubs or organizations that are related to your industry of interest.
Step 4: Job search engines and recruitment agencies Job search engines and recruitment agencies are excellent resources to help you find jobs in your industry of interest. Some of the popular job search engines are Indeed, Monster, and Glassdoor. Recruitment agencies are also helpful in finding jobs and have a database of available job positions.
Step 5: Prepare for the interview Once you land the job interview, it’s important to prepare and research the company and the job position. Prepare answers to common interview questions. Dress professionally and be on time. Show your enthusiasm and interest in the job position. Be confident and be yourself.
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solve for x and y,when 2x+y-5=0 and 3x-2y-18=0
Answers
Answer:
(x,y)=(4,-3)
Explanation:
2x+y-5=0
3x-2y-18=0
Add 5 and 18
2x+y=5
3x-2y=18
Multiply eq1 by 2,
4x+2y=10
Add 1 from 2
7x=28
x=4
2(4)+y=5
8+y=5
y=-3
Hope this helps plz hit the crown :D
Kaspar Industries expects credit sales for January, February, and March to be $203,400, $267,600, and $317,300, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month.
Answers
Answer:
January = $152,550
February = $251,550
March = $304,875
Explanation:
To Compute cash collections from customers follow the given collection history closely :
Month`s receipts = Cash Collected in Month of Sale (75%) + Cash Collected in Month After Sale
Cash Collection Schedule
Month January February March
In Month of Sales $152,550 $200,700 $237,975
Month After Sale $0 $50,850 $66,900
Total $152,550 $251,550 $304,875
Which of the following is a term for intangible things such as providing delivery
that are sold by retailers? *
A gifts
B training
C services
D products
Answers
Answer:
c
Explanation:
services are something intangible that you sell
Please help me look for the answer to this question!!!
On July 1, 2019, Sheridan Company purchased new equipment for $80,000. Its estimated useful life was 8 years with a $12,000
salvage value. On December 31, 2022, (before calculating annual depreciation) the company estimated that the equipment's
remaining useful life was 10 years, with a revised salvage value of $5,000
(what is in the red box is incorrect)
Answers
The depreciation expense entry on Dec 31, 2019 is
DR Depreciation Expense $4250
CR Accumulated Depreciation $4250
The depreciation expense entry on Dec 31, 2020 is
DR Depreciation Expense $8500
CR Accumulated Depreciation $8500
Revised Annual depreciation to be charged on Dec 31, 2022 is $5375
The depreciation expense entry on Dec 31, 2022 is
DR Depreciation Expense $5375
CR Accumulated Depreciation $5375
Balance Accumulated Depreciation as on Dec 31, 2022 is $26,625
What is Depreciation?Depreciation is a systematic allocation of cost of an asset over the useful life. Depreciation is charged monthly or annually according to the policy. Depreciation can be calculated using straight line method or reducing method, these two are common methods of you of calculating depreciation.
In the case scenario provided in the question the depreciation was initially charged on eight years while the revised depreciation estimated that the useful life of the asset remaining is 10 years. The asset value is first deducted from the salvage value of the asset then divided by the number of estimated useful life. Revised depreciation can be calculated by taking the original amount of the asset minus accumulated depreciation till date minus salvage value then divide into revised useful remaining life of the asset.
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