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Feliz [49]
1 year ago
12

On January 1, the Matthews Band pays $69,000 for sound equipment. The band estimates it will use this equipment for five years a

nd perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the straight-line method.
Business
1 answer:
LuckyWell [14K]1 year ago
3 0
<h3 />

$13,400 is the first-year depreciation using the straight-line method.

<h3>Step 1</h3>

cost = $69,000

savage = $2,000

cost minus savage = $69,000 -- $2,000

⇒$67,000  

⇒Estimated years = 5years  

using the straight-line method formula.

<h3>Step 2           </h3>

⇒first-year depreciation expense = $67,000 /5

⇒$13,400

thus, the depreciation using the straight-line method is $13,400

learn more about depreciation here <u>brainly.com/question/25806993</u>

#SPJ4

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Answer:

the total stockholder equity is $900,000

Explanation:

The computation of the total stockholder equity is shown below;

= Common stock + paid in capital in excess of par

= $850,000 + $50,000

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We simply added these two amounts so that the correct amount could come

hence, the total stockholder equity is $900,000

As these two amount increased the equity

3 0
2 years ago
On 12/31/X4, Zoom, LLC, reported a $55,500 loss on its books. The items included in the loss computation were $27,000 in sales r
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Answer:Ordinary Business income loss =-$20,500.

Explanation:

Ordinary business Expenses are the expenses generally accepted according to the  industry standards associated with running of a business.

Here, the ordinary business expenses for Zoom  include

cost of good sold= $19,-000

employee wages= $17,000

rent expense = $11,500 and therefore will be deducted from its sales revenue.

charitable contributions and qualified dividends, do not cut across all industries and so are not classified under Ordinary Buisness expences.

Ordinary Business income loss = Sales revenue - cost of good sold, -employee wages- rent expense.

$27,000- $19,000-$`17,000-$11,500= -$20,500. to be reported on its X4 return

6 0
2 years ago
A lease for a period of more than one year must be in writing to comply with the __________ . (a) leasehold estate (b) statute o
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(b) Statue of frauds

<span>Statue of frauds is generally the requirement of particular contracts to be in writing and signed by all parties involved in an agreement. In the context of real estate, the statue of frauds protects tenants from unfair eviction or tenancy termination. Similarly, it protects property buyers from sellers’ “change of mind” or refusal to sell the property on the grounds that the seller obtained a higher offer price from another interested buyer. However, there are exemptions to the statue of frauds which vary from state to state. </span>

7 0
3 years ago
Xyx Motors pays Nick $1,567.46 in dividends every year. If the dividend on one share of Xyx Motors is $4.33, how many shares doe
notsponge [240]

Answer:

Option C 362 Number of shares

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By putting the values in the above equation we have:

Number of shares = $1567.46 / $4.33 = 362 Number of shares

7 0
3 years ago
Read 2 more answers
Which of the following is the Federal Reserve unable to directly do
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Answer:

Increase and decrease the interest rate in the economy by a certain percentage

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The Federal Reserve can influence the prevailing interest rates. However, it cannot increase or decrease the interest rate in the economy by a certain percentage. The Federal Reserve influences interests rate by adjusting the fed funds rate.  The feds fund rate is the interest rate that banks charge each other when they borrow from each other.

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