Answer:
Annual depreciation= $14,420
Book value= $50,160
Explanation:
Giving the following information:
Purchase price= $79,000
Useful life= 5 years
Salvage value= $6,900
<u>To calculate the depreciation expense, we need to use the following formula:</u>
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (79,000 - 6,900) / 5
Annual depreciation= $14,420
<u>Now, the book value:</u>
Book value= purchase price - accumulated depreciation
Book value= 79,000 - (14,420*2)
Book value= $50,160
Answer:
DSO is 50.34 days and late payment by 5.34 days
Explanation:
In this question, we use the day's sales outstanding formula which is shown below:
Days sales outstanding = (Accounts receivable ÷ Net credit Sales) × total number of days in a year
= ($60,000 ÷ $435,000) × 365 days
= 0.1379 × 365 days
= 50.34 days
Now, the customer paying early or late equals to
= DSO - Credit period
= 50.34 days - 45 days
= 5.34 days
The amount indicates a positive answer which reflects the late payment
Answer:
$4,424
Explanation:
Calculation to determine what amount would you have lowered your federal income tax
Using this formula
Reduction in Federal income tax amount = (Mortgage interest + Real estate taxes) x Tax rate
Let plug in the formula
Reduction in Federal income tax amount= ($13,200 + 2,600) x 0.28
Reduction in Federal income tax amount=$15,800×0.28
Reduction in Federal income tax amount = $4,424
Therefore The amount that you would have lowered your federal income tax is $4,424
From the illustrated description of Charlie’s job in his company, it is clear that Charlie’s role in the company is working as a public relations manager.
A public relations manager is responsible for maintaining a favorable image of their clients, be it individuals, or in Charlie’s case, a company. This include dealing with the media, holding press conferences, and writing press releases.
Answer:
Freya needs to expense costs for Patent A34 and capitalize costs for Patent B19.
Explanation:
Based on the scenario being described it can be said that Freya needs to expense costs for Patent A34 and capitalize costs for Patent B19. That is because a successful defense of a patent needs to be capitalized and amortized since you can now monetize and recover the costs incurred as well as make a profit off of the patent. On the other hand, unsuccessful defense of a patent needs to be expensed as incurred since that patent cannot be used to make money and recover costs.
