on january 1, a machine with a useful life of four years and a residual value of $ 20,000 was purchased for $60,000. what is the depreciation expense for year 1 under the double-declining-balance method of depreciation?
Answers
The depreciation expense for year 1 under the double-declining-balance method is $20,000.
Under the double-declining-balance method of depreciation, the depreciation expense for year 1 is calculated as follows:
1. Determine the straight-line depreciation rate: (Original Cost - Residual Value) / Useful Life
($60,000 - $20,000) / 4 years = $10,000 per year
2. Calculate the double-declining-balance rate: 2 * Straight-Line Depreciation Rate
2 * ($10,000 / $60,000) = 1/3 or 33.33%
3. Calculate the depreciation expense for year 1: Original Cost * Double-Declining-Balance Rate
$60,000 * 33.33% = $20,000
So the depreciation for the machine for year 1 under the double-declining-balance method is $20,000.
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Related Questions
skull company makes snowboards and uses the total cost method in setting product price. its costs for producing 12,000 units follow. the company targets a 12.0% markup on total cost. variable costs per unit direct materials $ 102 direct labor 27 overhead 22 selling, general and administrative 8 fixed costs (total) overhead $ 472,000 selling, general and administrative 440,000 1. compute the total cost per unit if 12,000 units are produced. 2. compute the dollar markup per unit. 3. compute the selling price per unit. (for all requirements, round your final answers to the nearest dollar amounts.)
Answers
Total cost per unit if 12,000 units are produced: Total cost per unit = $237 2. Dollar markup per unit:
$28.32. 3. Selling price per unit = $264 (rounded to the nearest dollar)
1.Total cost per unit if 12,000 units are produced:
Variable cost per unit = direct materials + direct labor + overhead + selling, general and administrative
Variable cost per unit = $102 + $27 + $22 + $8 = $159
Total cost per unit = Variable cost per unit + (Total fixed costs/Number of units produced)
Total cost per unit = $159 + ($472,000 + $440,000)/12,000
Total cost per unit = $159 + $77
Total cost per unit = $236
2. Dollar markup per unit:
Markup percentage on total cost = 12.0%
Dollar markup per unit = Markup percentage * Total cost per unit
Dollar markup per unit = 0.12 * $236
Dollar markup per unit = $28.32
3. Selling price per unit:
Selling price per unit = Total cost per unit + Dollar markup per unit
Selling price per unit = $236 + $28.32
Selling price per unit = $264 (rounded to the nearest dollar)
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Suppose that a NY Times article indicates that wild salmon indicates that wild salmon is a healthy food because it provides lots of omega 3 nutrients. During the same period, the number of wild salmon returning to spawn in Alaska has grown dramatically.
Now suppose that an entrepreneur finds a way to raise salmon at a much lower cost than had previously been the case. Assume that most consumers believe that wild salmon and domestic salmon are similar products. This technological change:
(This is an extension of question 3, not a repeat)
a.will unambiguously cause the equilibrium quantity of wild salmon to rise
b.will unambiguously cause the equilibrium quantity of wild salmon to fall
c.will have no impact on the equilibrium quantity of wild salmon
d.may cause the equilibrium quantity of wild salmon to rise, fall, or remain the same
Answers
The correct option is D, May causes the equilibrium quantity of wild salmon to rise, fall, or remain the same.
Equilibrium refers to a state where the supply and demand for a particular good or service are equal, resulting in a stable market price. This state of balance is crucial for businesses to operate efficiently and profitably. In an equilibrium state, there is no shortage or surplus of goods, which allows businesses to produce and sell their products at a reasonable price.
This price is determined by the intersection of the supply and demand curves, where the quantity of goods produced and sold matches the quantity of goods demanded by consumers. Businesses strive to achieve equilibrium by adjusting their production levels to meet the demand for their products. They may also adjust their prices or marketing strategies to increase demand or reduce supply, depending on the market conditions.
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On 8/1/2023We issue 60 million of 8%20 years bonds for 90 give the first Journal entries Give the CV at 3/12028
Answers
The carrying value (CV) at March 1, 2028, is approximately $40,188,240.
The journal entries for the issuance of the bonds on August 1, 2023, would be as follows:
1. To record the issuance of bonds:
Date: 8/1/2023
Debit: Cash ($60,000,000)
Credit: Bonds Payable ($54,000,000)
Credit: Premium on Bonds Payable ($6,000,000)
The company receives cash of $60 million from the bond issuance. The Bonds Payable account is credited with the face value of the bonds, which is $54 million, and the Premium on Bonds Payable account is credited with the premium amount of $6 million.
The carrying value (CV) at March 1, 2028, can be calculated as follows:
1. Determine the annual interest expense:
Face value of the bonds = $54,000,000
Coupon rate = 8%
Annual interest expense = Face value of the bonds * Coupon rate
Annual interest expense = $54,000,000 * 8% = $4,320,000
2. Calculate the total interest expense from the issuance date to March 1, 2028:
Time period from issuance (8/1/2023) to March 1, 2028 = 4 years and 7 months
Total interest expense = Annual interest expense * Time period in years
Total interest expense = $4,320,000 * 4.583 (approximate years)
Total interest expense = $19,811,760
3. Determine the carrying value (CV) at March 1, 2028:
Face value of the bonds = $54,000,000
Premium on Bonds Payable = $6,000,000
Total interest expense = $19,811,760
CV = Face value of the bonds + Premium on Bonds Payable - Total interest expense
CV = $54,000,000 + $6,000,000 - $19,811,760
CV = $40,188,240
Therefore, the carrying value (CV) at March 1, 2028, is approximately $40,188,240.
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Help what’s the answer?
Answers
Answer:
increases
Explanation:
just a guess not sure don't hate if it's not right
Good luck
Sarah is making patriotic beaded bracelets to sell at the local flea market. She has 200 red beads, 150 red beads, and 50 white beads. She wants the same amount of each color on each bracelet. How many bracelets can she make? how many of each color beads can go on each bracelet?
Answers
Due to the fact that both 200 and 150 may be divided by 50, their biggest common factor is 50. Sarah may thus create 50 bracelets using 4 red beads and 3 blue beads each. We need to make sure that patriotic
The term "patriotic" relates to a person's love, fidelity, and allegiance to their nation. It is an emotional bond with one's country, culture, and principles. Patriotism frequently entails honouring and displaying respect for national symbols like the flag and anthem as well as commemorating important moments in the nation's past. Nationalism can take many different forms, such as celebrating national festivals, enlisting in the military, offering to help out in the community, or wearing or owning objects with patriotic emblems. People can feel a feeling of solidarity, pride, and belonging when they are patriotic, which helps to foster a sense of shared identity and a sense of responsibility for the welfare of the country. Yet, when carried to extremes or used to excuse harsh behaviours towards others, it can also result inattitudes"patriotic"
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An engineer proposes to buy a machine for $100,000 today that will save $60,000 in labor costs at the end of each of the next two years. If the company demands a 15 percent return on investments such as this, what is the net present worth (NPW) of the proposal? Should it be funded?
Answers
To calculate the net present worth (NPW) of the proposal, we need to discount the cash flows from the savings in labor costs at the end of each year to their present value and compare it to the initial cost of the machine.
The cash flows from the savings in labor costs are $60,000 per year for two years, so the total cash flow over the two years is $60,000 + $60,000 = $120,000.
The discount rate is 15%, which represents the company's required return on investment.
Using the formula for present value (PV), the present value of the cash flows can be calculated as follows:
PV = Cash Flow / (1 + Discount Rate)^t,
where t is the time period.
For the first year, t = 1:
PV1 = $60,000 / (1 + 0.15)^1 = $60,000 / 1.15 = $52,173.91.
For the second year, t = 2:
PV2 = $60,000 / (1 + 0.15)^2 = $60,000 / 1.3225 = $45,454.55.
To calculate the NPW, we subtract the initial cost of the machine from the present value of the cash flows:
NPW = PV1 + PV2 - Initial Cost.
Given that the initial cost of the machine is $100,000, we can calculate the NPW:
NPW = $52,173.91 + $45,454.55 - $100,000 = -$2,371.54.
The NPW of the proposal is negative, indicating that the present value of the cash flows is less than the initial cost of the machine. Therefore, based on the company's required return of 15%, the proposal should not be funded as it would result in a negative net present worth.
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Things you must need to survive are
A.wants
B.economies
C.needs
D.resources
Answers
Answer:
your answer is c, needs, pls mark brainliest
Explanation:
Answer:
Answer is C, needs because one cannot live without them.
please mark me, brainliest
Describe ways that employee ethics can affect a company
Answers
Answer:
they can affect the company in different ways
Explanation:
so they can affect either negativly and positivly so it could go both ways
Answer: Employees make better decisions in less time with business ethics as a guiding principle; this increases productivity and overall employee morale. When employees complete work in a way that is based on honesty and integrity, the whole organization benefits.
Explanation:
Are there any driving forces in the industry in which your company is competing? What impact will these driving forces have? Will they cause competition to be more or less intense? Will they act to boost or squeeze profit margins? List at least two actions your company should consider taking in order to combat any negative impacts of the driving forces.
Answers
Understanding the driving forces in your industry is essential for long-term success. By monitoring and responding to these forces, your company can compete effectively, maintain profitability, and achieve sustained growth.
it's important to identify the driving forces that are shaping the competitive landscape. For example, if your company operates in the retail industry, some of the driving forces could include the rise of e-commerce, changing consumer preferences.
The impact of these driving forces on your company's competition and profitability will depend on how your company responds to them. For example, if your company fails to adapt to the rise of e-commerce and continues to rely solely on brick-and-mortar stores, it may face increased competition and declining profit margins..
To combat any negative impacts of driving forces, your company should consider taking several actions. First, it should regularly monitor and analyze the industry to identify emerging trends and changes in the competitive landscape.
Second, your company should invest in innovation and new technology to stay ahead of the curve. By continually improving its products and services, your company can differentiate itself from competitors and maintain a competitive advantage.
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what budget effect is most likely to be tied to creative
(content) and media (placement) decisions?
Group of answer choices
Competitor effect
Carry-over effect
Quality effect
Threshold effect
Non-line
Answers
The budget effect that is most likely to be tied to creative (content) and media (placement) decisions is Quality effect. What is Quality Effect? Quality effect refers to the effect of media and creative (content) quality on a company's advertising expenditures.
In other words, it's a budgetary effect that is heavily influenced by the quality of an advertisement, particularly its media placement and content. If the quality of an advertisement is high, this budget effect will have a positive impact on the advertising budget as well as on the company's sales. The better the quality of media and creative (content) in advertising, the better the chance of sales and therefore, it affects the budget. Quality Effect plays a crucial role in the budget of a company.
A positive budget effect means an increase in the advertising budget, while a negative budget effect means a decrease in the advertising budget. Hence, companies focus on producing high-quality media and creative content to positively impact the budget. The threshold effect refers to the level of advertising exposure below which sales are low, while above which there is no appreciable increase in sales. The carry-over effect is a situation in which the effect of advertising on a company's sales persists long after the campaign has ended. The competitor effect is the influence of competitor advertising on a company's advertising budget. Non-line is a reference to a trend in which the relationship between advertising and sales is non-linear.
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true or false: technical accounting skills represent the only skills required of accounting professionals
Answers
False. Technical accounting skills are important for accounting professionals, but they are not the only skills required.
Accounting professionals need to possess a combination of technical, analytical, and soft skills to excel in their roles.
Technical accounting skills refer to the knowledge of accounting principles, standards, and practices. These skills involve understanding financial statements, bookkeeping, tax regulations, auditing, and other technical aspects of accounting. They are essential for performing tasks such as preparing financial reports, conducting audits, and ensuring compliance with accounting standards.
However, accounting professionals also require analytical skills to interpret financial data, identify trends, analyze business performance, and make informed decisions. They need to be able to analyze complex financial information, identify patterns, and provide valuable insights to support strategic decision-making.
So, while technical accounting skills form the foundation of an accountant's expertise, a well-rounded accounting professional should also possess analytical skills, soft skills, and the ability to adapt to changing requirements.
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Why do some firms, industries, and cultures have different CSR thresholds than others? Illustrate your answer with real examples for all three categories.
Answers
Some firms, industries and cultures have different corporate social responsibility (CSR) thresholds than others due to differences in the operating area, level of business complexity and legal and cultural differences between countries.
Corporate social responsibility is an increasingly growing requirement in today's society, which considers organizations to be institutions that promote social and environmental development.
CSR types can be:
PhilanthropyPreservation of the environmentDiversity and Work PracticesVolunteeringTherefore, each company will identify the best strategy to implement CSR in its processes, in order to create value for stakeholders, increase employee satisfaction, be more competitive and positioned in the operating market.
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______ establish national bank, pay off war debt, pass whiskey tax and protective tariff.
Answers
Hamiltons financial plan establish national bank pay off war debt pass whiskey tax protective tariff.
What do you mean by national bank?A national bank is a type of commercial bank in the US. A national bank will be chartered by the U.S. Treasury's comptroller of the currency. This organization will carry out its duties as a Federal Reserve member bank and a district Federal Reserve Bank investing member. It's possible that national banks may help with the Treasury bond auction procedure. The Federal Deposit Insurance Corporation (FDIC) membership is a requirement. Internationally, "national bank" and "central bank" are interchangeable terms for banks that are under the control of a nation's national government. Within national economies, central banks determine monetary policies.
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Checking account transactions are NOT reported to the credit bureaus and do not affect your credit score. Why is it still important to manage your checking account well?
Answers
Answer: Too see if anyone is stealing or charging extra fees
Explanation:
If a proposed new venture moves beyond the feasibility analysis stage, it will need to complete ____ financial statements that demonstrate the firm's financial viability for the first 1–3 years of its existence
Answers
If a proposed new venture moves beyond the feasibility analysis stage, it will need to complete pro forma financial statements that demonstrate the firm's financial viability for the first 1–3 years of its existence.
Pro forma financial statements are forward-looking projections of a company's financial performance. They include the income statement, balance sheet, and cash flow statement, which provide a detailed view of the company's expected revenues, expenses, assets, liabilities, and cash flows. These statements are based on assumptions and estimates about future market conditions, customer demand, pricing, costs, and other relevant factors.
The purpose of preparing pro forma financial statements is to assess the financial feasibility of the new venture and provide valuable insights for decision-making. Investors, lenders, and other stakeholders often require these statements to evaluate the potential profitability and sustainability of the business. By analyzing the projected financials, they can assess the company's ability to generate sufficient revenues, cover its expenses, repay debts, and achieve profitability.
Preparing pro forma financial statements involves careful analysis, market research, and financial modeling. The statements should be realistic and based on reasonable assumptions to provide an accurate representation of the new venture's financial viability. Regular monitoring and adjustment of these projections are necessary as the business progresses and actual results become available.
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An economy has a fixed price level, no imports, and no income taxes. An increase in autonomous expenditure of $5 trillion increases equilibrium expenditure by $25 trillion. Calculate the multiplier and the marginal propensity to consume.≫Answer to 2 decimal places. The multiplier is ____. The marginal propensity to consume is ____.
Answers
To 2 decimal places, the multiplier is 5.00, and the Marginal Propensity to Consume is 0.80.
The multiplier is calculated by dividing the change in equilibrium expenditure by the change in autonomous expenditure. In this case, the change in equilibrium expenditure is $25 trillion, and the change in autonomous expenditure is $5 trillion.
Multiplier = (Change in Equilibrium Expenditure) / (Change in Autonomous Expenditure)
Multiplier = ($25 trillion) / ($5 trillion)
Multiplier = 5
The Marginal Propensity to Consume (MPC) can be calculated using the formula:
MPC = 1 - (1 / Multiplier)
MPC = 1 - (1 / 5)
MPC = 1 - 0.2
MPC = 0.8
To 2 decimal places, the multiplier is 5.00, and the Marginal Propensity to Consume is 0.80.
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In the world of banking, checks are Group of answer choices fiat money written instructions from one depositor to another depositor token money written instructions from a depositor to the bank a form of commodity money
Answers
Checks in the world of banking are written instructions from one depositor to another depositor. A check is a type of financial instrument which contains written instructions from the account holder of a bank to another bank account holder or to the bank itself.
ordering the bank or financial institution to pay a specific amount of money as directed in the check. Banks have been in existence since ancient times, and they continue to evolve and adapt to modern times. Banks are crucial institutions in today's economy since they facilitate the circulation of money and promote trade by providing payment services, credit, and other financial products and services.
Checks are an essential aspect of banking transactions since they enable individuals and businesses to make and receive payments without carrying large amounts of cash. Checks can also serve as a means of proof of payment since they contain details of the transaction.
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mustang corporation has a selling price of $21, variable costs of $12 per unit, and fixed costs of $45,270. how many units must be sold to break even?
Answers
Unit breakeven = fixed cost / (selling price per unit - variable cost)Breakeven point = $45,270/(21-12) = 5,030You need to sell 5,030 to break even.
It depends on how much the buyer is willing to pay, how much the seller is
willing to accept, and how competitive the price is compared to other companies in the market.
The selling price of a product or service is the final price of the seller. H. The amount a customer pays for something. Exchanges may be for products or services of specified quantity, weight or dimensions.
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What is an investment portfolio?
A. A selection of varied accounts
B. A selection of varied instruments
C. A selection of varied applications
D. A selection of varied stocks and bonds
Answers
Answer:
In finance, a portfolio is a collection of investments aka stocks and bonds!
seedbed preparation
activities
1.cleared the area
Answers
Jarvis Company produces a product that has a selling price of $25 and a variable cost of $17 per unit. The company's fixed costs are $63,000. What is the break-even point measured in sales dollars
Answers
Answer:
The break-even point measured in sales dollars is $8
Explain why pricing goods is easier than pricing services.
Answers
Answer:
The answer is below
Explanation:
pricing goods is easier than pricing services because price goods will require you to measure the cost of inputs to make the goods. This will include the cost of raw materials, cost of labor, cost of marketing, and other associated costs that can easily be derived before the final goods are produced.
However, pricing services is difficult because, to measure the value of the time you used in delivering your services is not straight forward, and also, measuring the actual value of the services rendered is not easier to conduct, because it is not direct either.
The W-2 form is a form that tells you______.
1) how often you will be paid.
2) how much Texas you’ve paid in the last year based on how much you’ve earned.
3) how much taxes to withhold from your paycheck
4) how much taxes you owe to the federal government.
Answers
Answer:
2) how much Texas you’ve paid in the last year based on how much you’ve earned.
Explanation:
A W-2 form is a document showing the amount of money that an employee earned in a particular year and the amount of taxes withheld. The form is prepared by the employer and presented to each employer and the tax authorities.
Employees use the W-2 form to file their income tax and FICA taxes, while the tax authority uses the form to track down employee's tax obligations.
Angela Simpson is considering the purchase of a home entertainment center. The product attributes she plans to consider and the weights she gives to them are as follows
Answers
Product Attributes:
Price (weight: 4): Angela will be looking for a home entertainment center that is within her budget.
What is budget?A budget is an allocation of resources, typically money, that sets out how funds will be allocated for various activities, such as expenditures and savings. It is a plan for how an individual, family, business, or government will use its resources to achieve financial objectives.
Durability (weight: 3): Angela wants to purchase a home entertainment center that will last for a long time.
Design (weight: 3): Angela wants to purchase a home entertainment center that fits with her home decor.
Audio Quality (weight: 2): Angela wants to make sure that the audio quality of the home entertainment center is good.
Features (weight: 2): Angela is looking for home entertainment centers that have additional features such as HDMI ports or USB ports.
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Samantha is working through the Client Needs Assessment process. Which 4 areas should she focus on to gather information for her client?(Select all that apply) Who is the client Why did the client start their business What services does the client need How will the client work be completed Which team member will do the work When does the client need their work completed
Answers
Samantha, while working through the Client Needs Assessment process, should focus on four key areas to gather vital information for her client. These areas include:
1. Identifying the client: It's essential for Samantha to know who her client is, including their background and any relevant details about their company or industry. This helps establish a strong foundation for understanding the client's needs and offering tailored solutions.
2. Understanding the client's motivation: Determining why the client started their business provides valuable insight into their goals and vision. This information will enable Samantha to align her services with the client's objectives, ensuring their expectations are met.
3. Assessing client's service requirements: Samantha must evaluate what services the client needs to support their business effectively. This could include areas such as marketing, technology, or human resources. By identifying these needs, Samantha can tailor her approach and offer relevant solutions.
4. Establishing timelines and work completion: It's crucial for Samantha to know when the client needs their work completed and how the work will be carried out. This information will help her allocate resources, coordinate with team members, and set realistic deadlines for project completion.
By focusing on these four areas, Samantha will gather crucial information that will help her meet her client's needs and build a strong working relationship.
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ANSWER ASAP PLEASE Which statement describes a way to use credit responsibly?
paying attention to the APR
and not the
APY
paying only the minimum payment each month
opening several different credit accounts
o understanding the account's interest rate
Answers
Answer:
understanding the interest rate
Explanation:
i took the test
malcolm has filed a claim for benefits under his disability policy. his insurer wants him to have a physical examination to back up his claim. which of the following is true?
Answers
It is common for insurers to require a physical examination as part of the claims process for disability insurance. This helps the insurer verify the claim and ensure that the individual meets the requirements for coverage under their policy. Therefore, it is likely that Malcolm will need to undergo a physical examination in order to support his claim for benefits.
It is common for insurance companies to require a physical examination to verify a claim for disability benefits of insurer. The purpose of the examination is to evaluate the nature and extent of the disability and to determine whether it meets the criteria for coverage under the policy.
If Malcolm wants to pursue his claim, he may be required to undergo the examination. However, he may want to consult with his own doctor and review his policy to ensure that the examination is necessary and appropriate. Additionally, he may want to consider seeking legal advice if he encounters any issues or disputes with the insurance company.
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question one please. thank you
Answers
Answer:
companies like Nike Inc have mission statements to attract the attention of the public .. thereby making it more easy to sell their products in the market
Contra entry is recorded in?