Apex Fitness Club uses straight-line depreciation for a machine costing $22,100, with an estimated four-year life and a $2,850 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,400 salvage value. 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below.
Answers
The machine's book value at the end of its second year is $12,975. The amount of depreciation for each of the final three years given the revised estimates is $6,900 per year.
1. To compute the machine's book value at the end of its second year, we need to first determine the annual depreciation expense. To do that, we subtract the salvage value from the cost of the machine and divide by the estimated life.
So, for this machine:
Cost = $22,100
Salvage value = $2,850
Estimated life = 4 years
Annual depreciation = (Cost - Salvage value) / Estimated life
Annual depreciation = ($22,100 - $2,850) / 4
Annual depreciation = $4,562.50
Now we can determine the book value at the end of year 2. Since straight-line depreciation is used, the annual depreciation expense is the same each year.
Book value at the end of year 2 = Cost - Accumulated depreciation
Accumulated depreciation = Annual depreciation x Number of years the machine has been in use
Accumulated depreciation = $4,562.50 x 2
Accumulated depreciation = $9,125
Book value at the end of year 2 = $22,100 - $9,125
Book value at the end of year 2 = $12,975
Therefore, the machine's book value at the end of its second year is $12,975.
2. To compute the amount of depreciation for each of the final three years given the revised estimates, we first need to determine the new annual depreciation expense.
New salvage value = $2,400
Remaining useful life = 3 years
New annual depreciation = (Cost - New salvage value) / Remaining useful life
New annual depreciation = ($22,100 - $2,400) / 3
New annual depreciation = $6,900
Now we can compute the depreciation expense for each of the final three years.
Year 3 depreciation expense = $6,900
Year 4 depreciation expense = $6,900
Year 5 depreciation expense = $6,900
Therefore, the amount of depreciation for each of the final three years given the revised estimates is $6,900 per year.
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Related Questions
What is one example of how a government exhibits limited influence in a market economy?
the choice for workers to select where they want to work
the ability of businesses to seek profits
the creation of privately-owned businesses
the setting of a minimum wage for workers
Answers
Answer: the setting of a minimum wage for workers
Explanation:
I just took the test and this answer is the right one, good luck :)
The government exhibits limited influence in a market economy by setting of a minimum wage for workers.
What is government?Government is a particular group of people that have power to rule in a country and who has the power to make laws, to enforce them in a country. a government is group which is either elected through people in system like democracy or their is rule by any one person i.e. monarchy. this is government is responsible for running of country or growth of its territory and takes all the decision for development of its country and people on behalf of the people in the country.
What is market economy?A market economy is an economic system where demand and supply affects or governs the production of goods and services. According to the market economy's guiding principle, businesses that manufacture and sell products and services should do so at the highest price that customers are willing to pay. A natural economic equilibrium is reached when supply and demand are at equal levels.
What is minimum wage?Minimum wage is either decided by collective bargaining or is stipulated by government through regulation, minimum wage is the lower rate at which the worker is employed by an employer. Minimum wage is decided by the government to bring equity among workers working at same rate and for same hours.
When the government imposes minimum wage, the wage of the worker is decided by the price level not by the equilibrium of demand and supply, in such way government influence market economy.
Supportive answer
Hence, option D is the correct answer
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Look at the equation framework.
3 empty boxes show the parts of an equation. The first box = the second box minus the third box.
Which of the following lists the proper placement of terms, from left to right, to complete the equation?
revenue, profit, opportunity cost
profit, revenue, production cost
production cost, profit, revenue
opportunity cost, revenue, profit
Answers
Answer:
profit, revenue, production cost
Explanation:
Profit is the rewards or gains realized for engaging in business activities. A business is profitable when revenue is more than the expenses.
Revenue is the income generated from the normal business activities of selling goods and services.
Production costs are the expenses incurred in making goods meant for sale.
Answer:
B
or
profit, revenue, production cost
Explanation:
Based on the following information, calculate net income for Dana's Dress Shop using the traditional format. Sales $360,000 Gross Margin $140,000 Contribution Margin $110,000 Total Selling & Administrative Exp. $60,000
Answers
Answer:
$80,000
Explanation:
Calculation for the net income for Dana's Dress Shop using the traditional format
NET INCOME USING TRADITIONAL FORMAT
Using this formula
NET INCOME=Gross Margin -Total Selling & Administrative Expenses
Where,
Gross Margin =$140,000
Total Selling & Administrative Expenses=$60,000
Let plug in the formula
NET INCOME=$140,000-$60,000
NET INCOME=$80,000
Therefore the NET INCOME will be $80,000.
Answer: 80k
Explanation: Bc quizlet said so :)
Question 6 of 10
3 Points
A body of the letter is composed of the:
Answers
Answer:
Introduction
The body of the letter is usually divided into the three paragraphs (one is the introduction, then supporting details, then conclusion of topic).
Which of the following are automatically withheld from paychecks?
Answers
the (the rate banks charge their best customers) closely follows the rate that the fed adjusts by using open market operations.
Answers
'The Prime rate closely follows the rate that the fed adjusts by using open market operations.
Marketing Operations is the function that oversees an organization's marketing programs, campaign planning, and annual strategic planning activities. Other responsibilities include technology and performance measurement, and reporting and data analysis.
Central banks conduct open market operations to regulate the money supply in the economy. For example, in India, open market operations are conducted by the Reserve Bank of India or RBI.
Open market operations (OMOs) — the buying and selling of securities on the open market by central banks — are an important tool used by the Federal Reserve in conducting monetary policy. Short-term targets for open market operations are set by the Federal Open Market Committee (FOMC).
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my new oc -w-.......................................................
Answers
Answer:
nice...
Explanation:
If the sale price per unit is $24.50, the variable expense per unit is $17, and total fixed expenses are $324,000, what are the breakeven sales in dollars? A) $466, 946 B) $224, 808 C) $734, 400 D) $1, 058, 400 If total fixed costs are $95,000, the contribution margin per unit is $8.00, and targeted operating income is $30,000, how many units must be sold to breakeven? A) 5, 625 B) 3, 750 C) 8, 125 D) 11, 875
Answers
If total fixed costs are $95,000, the contribution margin per unit is $8.00, and targeted operating income is $30,000, The correct answer is: D) 11,875
Total fixed costs refer to the sum of all expenses that do not vary with changes in production or sales volume within a given period. These costs remain constant regardless of the level of production or sales.
Examples of total fixed costs include:
Rent and lease payments for facilities or office space.
Salaries and wages of employees in administrative positions.
Insurance premiums for business coverage.
Property taxes on owned assets.
Depreciation expenses for capital assets.
Utilities expenses, such as electricity, that are fixed in nature.
Annual subscription fees for software or services.
It's important to note that while total fixed costs remain constant in the short run, they may change in the long run as a result of factors such as changes in the size of operations, facility upgrades, or renegotiation of contracts.
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What is the purpose of a bank?
A financial investigator
A financial tracker
A financial intermediary
A financial advisor
Answers
Financial advisor would be your answer
According to the video, what are some qualities Air Traffic Controllers need? Check all that apply.
physical strength
clear speaking
teamwork
alertness
repair skills
a driver’s license
Answers
Answer:
B,C,D ON EDGE 2020-2021
Explanation:
Based on the information given, the qualities Air Traffic Controllers need are:
Clear speakingTeamworkAlertnessThe correct options are B, C, and D.
What does an air traffic controller do?They control the flow of aircraft into and out of the airport's airspace, direct pilots during takeoff and landing, and keep an eye on the movement of aircraft in the sky. To communicate with pilots, air traffic controllers employ radio technology.
Clear speaking is necessary because Air Traffic Controllers are responsible for communicating with pilots to provide them with critical information, such as weather conditions, runway changes, and other important details. Any miscommunication or misunderstanding could have severe consequences, so it's essential that Air Traffic Controllers are articulate and can communicate clearly.
Teamwork is also crucial for Air Traffic Controllers because they work closely with other Air Traffic Controllers and other professionals, such as pilots, airport personnel, and maintenance crews. They need to be able to coordinate and collaborate effectively to ensure the safe and efficient flow of air traffic.
Thus, the ideal selections are options B, C, and D.
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Grim issued 2,000 $1,000 convertible bonds at par, with an annual interest rate of 6% when the market was 8%. The bonds are due in 5 years and each $1,000 bond is convertible into 3 shares of common stock. At what amount would Grim record the bonds payable liability
Answers
Grim would record the bonds payable liability at the par value of the convertible bonds, which is $2,000,000 ($1,000 per bond × 2,000 bonds).
The par value represents the face value or the principal amount of the bonds that will be repaid to bondholders at maturity. In this case, each bond has a par value of $1,000, and 2,000 bonds were issued, resulting in a total par value of $2,000,000.
The fact that the market interest rate was 8% at the time of issuance is relevant for understanding the attractiveness of the bond to investors, but it does not impact the recording of the bonds payable liability on Grim's financial statements. The par value is the key consideration for initial recognition of the bonds payable liability.
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What is true about contemporary Indian Economy
Answers
Answer:
There is a great scope for its growth in the future.
Hope this helps.
Which statement is true for a short-term goal?
A.
It is usually complex.
B.
It usually requires one to exert a lot of effort.
C.
It is usually related to the bigger things that you want to achieve.
D.
It usually takes less than a year to achieve.
Answers
Answer:
I would say D because it sounds more reasonable for me
Discuss how scarcity of economic resources
leads to tradeoffs
Answers
Scarcity of economic resources requires individuals and societies to make tradeoffs by choosing between alternative uses of limited resources.
This scarcity necessitates making choices and tradeoffs. When resources are scarce, choosing to allocate them towards one particular use means sacrificing the opportunity to use them for alternative purposes.
For example, a government investing resources in building new infrastructure may have to reduce spending on healthcare or education. Individuals face tradeoffs as well, such as deciding between spending money on leisure activities or saving for the future.
These tradeoffs arise because resources are limited, and individuals and societies must make choices to allocate them in the most efficient and effective manner given their scarcity.
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primary differences between international standards on auditing (isa) and public company accounting oversight board (pcaob) auditing standards include all of the following except
Answers
The primary differences between International Standards on Auditing (ISA) and Public Company Accounting Oversight Board (PCAOB) auditing standards include several factors. However, one difference that does not apply is the requirement for a minimum of 150 audit hours.
1. Scope: ISA applies globally, whereas PCAOB standards are specific to public companies in the United States.
2. Authority: ISA is issued by the International Auditing and Assurance Standards Board (IAASB), while PCAOB standards are issued by the PCAOB, a regulatory body established by the U.S. Congress.
3. Adoption: ISA may be adopted by national standard-setters, whereas PCAOB standards are mandatory for auditors of U.S. public companies.
4. Approach: ISA focuses on principles-based guidance, allowing auditors flexibility in applying standards. In contrast, PCAOB standards are more rules-based and provide specific requirements for auditors.
5. Public Interest: PCAOB standards emphasize the public interest, aiming to protect investors and ensure confidence in the reliability of financial statements. ISA also considers the public interest, but it has a broader perspective that includes the interest of stakeholders.
Overall, while there are numerous differences between ISA and PCAOB auditing standards. This requirement may vary depending on the specific engagement and circumstances but is not an inherent difference between the two sets of standards.
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The primary differences between International Standards on Auditing (ISA) and Public Company Accounting Oversight Board (PCAOB) auditing standards include all of the following - applicability, legal authority, scope, regulatory oversight and independence requirements.
1. Applicability: ISA is a set of auditing standards issued by the International Auditing and Assurance Standards Board (IAASB) and is used globally. On the other hand, PCAOB auditing standards are specific to audits of public companies registered with the Securities and Exchange Commission (SEC) in the United States.
2. Legal Authority: ISA is not legally binding, but many countries have adopted them as part of their national auditing standards. In contrast, PCAOB auditing standards have legal authority in the United States for auditors conducting audits of public companies.
3. Scope: ISA covers a broader range of entities, including private companies, governments, and not-for-profit organizations. PCAOB auditing standards are primarily focused on audits of public companies.
4. Regulatory Oversight: The IAASB oversees the development and adoption of ISA, while the PCAOB is responsible for overseeing the audits of public companies in the United States.
5. Independence Requirements: Both ISA and PCAOB auditing standards have independence requirements for auditors, but there may be some variations in specific requirements and guidance.
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Which economic tool would most likely be used as part of an expansionary
monetary policy?
O A. Selling treasury securities
B. Raising the reserve requirement
C. Reducing the discount rate
D. Increasing interest on reserves
Answers
Answer:
C. Reducing the discount rate
Explanation:
Expansionary monetary policies are macroeconomic undertakings by the Federal Reserve that aim at stimulating economic growth in the economy. Expansionary policies result in an increased flow of money in the country, which increases the aggregate demand.
The discount rate is the rate at which the Federal Reserve (the Fed ) charges commercial banks for advancing them credit. Reducing the discount rate makes loans from the Fed more affordable. Commercial banks will opt to borrow from the Fed at lower rates and lend out to households and firms at a higher interest rate, thereby making profits. Reducing the discount rate increases the money available for banks to lend out. Households and businesses will borrow this money for development and investments, which ignites economic growth.
Answer:
reducing the discount rate
Explanation:
ap3x
Which formula is a complex formula?
=10-(A3-D13)
=10-(A3-D13)
=5+A1*B1
=5+A1*B1
=D6/E10
=D6/E10
=C3+10+E3
Answers
The option that is a complex formula is B. = 5 + A1 * B1.
What are complex formulas on spreadsheets?Spreadsheets allow us to record data and perform advanced calculations that allow us to interpret the data recorded and make decisions off of that data.
To do this, spreadsheets use formulas. Some of those formulas are simple and others are complex. The formulas that are considered to be complex will be those that have more than one mathematical operation. This means that a single formula will have addition, and subtraction, or some other operation.
=5+A1*B1 has both addition and multiplication and so is a complex formula.
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What are the levels of buying decisions for business purchases?.
Answers
Answer:
Below:
Explanation:
The five stages of the business buying-decision process are awareness, specification, requests for proposals, evaluation and, finally, placing the order.
Hope it helps....
It's Muska... :)
from a customer's perspective, what is defined as a ratio of the bundle of benefits a customer receives from an offering, compared to the costs incurred by the customer in acquiring that bundle of benefits?
Answers
Value is defined as a ratio of the bundle of benefits a customer receives from an offering, compared to the costs incurred by the customer in acquiring that bundle of benefits
This is further explained below.
What are the costs incurred?Generally, A cost that has been incurred is one for which a company has been accountable, even though the company has not yet gotten a bill from a supplier as evidence of the cost.
In conclusion, A cost is considered to have been incurred after the company has become liable for the cost.
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what event made cryptocurrency more appealing to mainstream banks and large companies?
Answers
Over the past ten years, Bitcoin, the first and best-known cryptocurrency, has seen significant public adoption. As Bitcoin and other cryptocurrencies' values have increased.
Why has cryptocurrency gained so much traction?The ease of use of crypto can be credited with much of its surge in popularity. In the past, those who were interested in trading Bitcoin could only gain access to it in some way through constrained internet platforms, but this is no longer the case.
What connects people to cryptocurrencies?Some cryptocurrency proponents prefer the idea that central banks are no longer in charge of controlling the money supply since over time, these institutions have a tendency to devalue currencies through inflation.
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JT Engineering holds 400 RL Enterprises bonds. The bonds pay $2,000 interest each January and will mature on January 1, 2021. The bonds are classified as available-for-sale and JT sells them on October 1, 2020. If the bond discount amortization for a year was $890, how should JT determine the 2020 discount amortization for the bonds?
Answers
Answer:
(9/12*890)
Explanation:
The 9/12 would come from the bond not being sold until October (the 9th month). The bond has 3 more months until maturity. We know the bond discount amortization for a year is $890, so multiplying that by 9/12 will give the 2020 discount amortization.
The point at which birth and death rates balance is called
A Census growth
B Balancing growth
C zero population growth
Answers
Answer:
B balancing growth
Explanation:
Which are guidelines for using Themes?
Check all that apply.
A. Using different cell styles can help you differentiate different types of data.
B. Fonts should be easily readable and of appropriate size.
C. You cannot customize the default themes.
D. Be consistent with themes across worksheets and workbooks.
E. Applying a new theme will only change cells in a workbook that have no other formatting applied.
Answers
Answer:
I think it's D. or A. or B. but I mostly think it's D. Be consistent with themes across worksheets and workbooks
Statements that explains the guidelines when using a Theme are: A. Using different cell styles can help you differentiate different types of data.
B. Fonts should be easily readable and of appropriate size.
C. You cannot customize the default themes.
WordPress theme can be regarded as a group of files, these file can contains graphics, style sheets as well as code, which will give overall appearance of a blog or website.In using this, we can follow some guidelines such as; making use of more than a cell can help in differentiatiation of different types of data, default themes cannot be customized, and the selection of fonts should be made carefully.Therefore, option, ABC are correct.
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How much should you pay for a $1,000 bond with 9% coupon, annual payments, and 7 years to traturity if the interest rate is 10 s.? 595132 598140 $1,00000 $1.075.82
Previous question
Answers
the amount to pay for the bond will be $860.25.
The value of a $1,000 bond with a 9% coupon, annual payments, and 7 years to maturity will depend on the prevailing interest rate. In this case, if the interest rate is 10%, the bond's price will be discounted as compared to its face value.The bond price can be calculated using the formula for present value of a bond:PV = C × [1 - (1 + r)-n]/r + FV/(1 + r)nWherePV = Present value of bondC = Annual interest paymentr = Interest raten = Number of years to maturityFV = Face value of bondSubstituting the given values into the formula, we get:PV = 90 × [1 - (1 + 0.1)-7]/0.1 + 1000/(1 + 0.1)7≈ $860.25. Therefore, the amount to pay for the bond will be $860.25.
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how are you avalon23413?
Answers
Answer:
im great
Explanation:
I’m doing well !! I hope you’re are going good too
Explanation:
a company reported the following information at year-end: book value estimated cash flows fair value building $ 604,000 $ 386,000 $ 410,000 patent $ 41,000 $ 46,000 $ 42,000 copyright $ 46,000 $ 44,000 $ 43,000 machine $ 106,000 $ 126,000 $ 86,000 based on the above information, what is the total amount of impairment loss that the company should report at year-end?
Answers
The entire amount of the impairment loss, as per the query, is $191,000.
What does "company" mean?In order to operate and administer a business, which may be commercial or industrial, a group of people form a company. For tax / financial obligation purposes, a corporation can be constituted in a variety of ways.
Briefing :Given that:
Book value Estimated cash flow Fair value
Building $ 604,000 $ 386,000 $ 410,000
Patent $ 41,000 $ 46,000 $ 42,000
Copyright $ 46,000 $ 44,000 $ 43,000
Machine 106,000 $ $ 126,000 $ 86,000
When the cash flow of C-Stop Corporation is less than its book value, an impairment loss occurs.
Given that the expected cash flows for the building and the copyright are below their book values, the overall impairment loss is as follows:
= ($ 604,000 - $ 410,000 ) - ( $ 46,000 - $ 43,000 )
= $ 194,000 - $3,000
= $191,000
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hussain after doing his graduation has decided to run a retail shop as a source of livelihood. ii. He procures the goods from the wholesalers according to the consumer's demand and maintains a regular supply of goods to his customers. [5] TGIS-Raipur 4 / 5 iii. Customers are well satisfied with his services due to which his sales turnover is very high and he is earning a good return on his capital employed. iv. Seeing his Successful business, two other retailers have also opened their shops in the same area giving him tough competition reducing his market share and margin of profits. But Rohit knows, in spite of his best efforts put into the business, there is always the possibility of inadequate profits or losses. a. Identify the economic activity Rohit is engaged in. b. Enlist the features of identified economic activity with reference to the underlined words in each sentence given above.
Answers
A) Business is an economic activity.
B) features are profit earning- as it is essential for survival growth and expansion of business
Dealings in goods and services on a regular basis - and not merely one single transaction of sale or purchase.
The four major economic activities are resource management, production of goods and services, distribution of goods and services, and consumption of goods and services.
Agriculture, fisheries, mining, and forestry. Manufacture of finished products. Manufacture of technology, consumer goods, furniture, vehicles, and clothing. The provision of intangibles is commonly referred to as a service.
Economic activity is the activity by which people provide, produce, purchase or sell goods and services to meet their daily needs. Economic activity includes all activities related to the manufacture, sale, or use of products or services.
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what will I need to start a clothing shop
Answers
Answer:
Explanation:
But meanwhile his you are going to start a new clothing business you will not have much finance ( money ) but first u have to advertise to the customers . get the customers attraction and there satisfaction , because then one customer will spread the whole news about your clothing shop to almost all the customers. which will be beneficial for you .
You will have to advertise on the tv , radio , bill boards , newspapers , many other marketing equipments plus u must advertise your business in a way that the customers will be willing to purchase your clothes from your clothing shop.
Then eventually you will gain more profits and will lead to profits so after sometime you can create a a online shopping like a website , because some and many customers will be willing to purchase your clothes through the online platform. which saves the customers time and transportation costs and etc.
By the way the main element is customers because without customers there will be no lead / success to your clothing shop.
Hope this answer helps you :)
Have a great day.
Mark brainliest :)
answer is: e* = 15. a* =55 (b) ＄1587.50 If MD = 2.5e, MAC = 10 + 0.5a, and ēr = 70 tons/year, what is the combination of emission and abatement that minimizes society's total cost of contending with the substance each year? answer is: e* = 15. a* =55 (b) ＄1587.50 answer is: e* = 15. a* =55 (b) ＄1587.50 answer is not 300
Answers
The combination of emission and abatement that minimizes society's total cost of contending with the substance each year is e* = 15 and a* = 55, resulting in a total cost of ＄1587.50.
This cost is calculated by multiplying the emission rate (2.5e) by the emission level (15), then adding the cost of abatement (10 + 0.5a) multiplied by the abatement level (55).
This cost is much lower than the cost of allowing all of the 70 tons/year of the substance to be emitted into the environment, which would be an unsustainable and costly burden for society.
By establishing a combination of emission and abatement that minimizes total cost, society can ensure that the substance is managed responsibly and cost-effectively.
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The market risk, beta, of a security is equal to Group of answer choices the variance of the security's returns divided by the covariance between the security and market returns. the covariance between the security's return and the market return divided by the variance of the market's returns. None of the listed answers. the variance of the security's returns divided by the variance of the market's returns. the covariance between the security and market returns divided by the standard deviation of the market's returns.
Answers
Answer:
the covariance between the security's return and the market return divided by the variance of the market's returns
Explanation:
The market risk, beta of the security would be equivalent to the
Beta = Cov(rm, rs) ÷ Var(rm)
Rm denotes market return
rs denotes security return
Cov denotes covariance
Var denotes variance
Hence, the second option is correct
And, the rest of the options are wrong