Answer:
A) a Microsoft employee who created the latest tools for the Windows Operating System
Answer:
a)
30 September 2020 Depreciation expense $5150 Dr
Accumulated Depreciation $5150 Cr
b)
30 September 2020 Cash $16900 Dr
Accumulated Depreciation $47150 Dr
Loss on Disposal $7250 Dr
Equipment $71300 Cr
Explanation:
a.
we will record the first nine months 2020 depreciation expense and credit the accumulated depreciation account by this amount to update the account.
b.
We will calculate the accumulated depreciation amount till 30 september 2020 = 42000 + 5150 = 47150
The carrying value of the equipment = 71300 - 47150 = 24150
The loss on disposal = 16900 - 24150 = 7250
The cash received, loss on disposal and accumulated depreciation account will be debited and the equipment account will be debited.
Answer:
The financial advantage (disadvantage) from further processing is $0.40.
Explanation:
Compute the financial advantage (disadvantage) of further processing of T-bone into filet mignon and New York cut steaks using the equation as shown below:
Financial advantage = Total sales from further processing −
Sale revenue lost of one T−bone − Cost of further processing
=$8.90−$7.95−$0.55
=$0.40
<h3>
Hence, the financial advantage (disadvantage) of further processing of T-bone into filet mignon and New York cut steaks is $0.40.
</h3>
Working Notes:
Compute the total sales from further processing using the equation as shown below:
Sales from further processing = One Fileted Mignon + New York Cut
=$4.50+$4.40
=$8.90
Hence, the total sale from further processing is $8.90.
Compute the Sales revenue from one fileted mignon after further processing using the equation as shown below:
One Fileted Migon = (Selling price per filet mignon×Yeild per ounce / Size of one T−bone steak
)
= $12×6 ounce / 16 ounce
=$4.50
Hence, the sales revenue from one fileted mignon after further processing is $4.50.
Compute the Sales revenue from one New York cut after further processing using the equation as shown below:
New York cut = (Selling price per New York cut × Yeild per ounce / Size of one T−bone steak
)
= $8.8×8ounce / 16 ounce
=$4.40
<span>You are given an initial investment of $300 at 4% interest compounded monthly after 8 years. The solution to this question is shown below.
</span>A(t) = P(1+r/n)^nt
A(8) = 300(1+0.04/12)^12(8)
A(8) = 300(1+0.04/12)^96
A(8) = 300(1.033)^96
A(8) = $412.91