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Feliz [49]
2 years 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]2 years 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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Moorman Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The
Svetlanka [38]

Answer:

<em>Overhead</em><em>:</em>

Other           18,750

Setting up   13,200

Processing 34,850

Explanation:

We multiply each activity cost pool by the rate of each department, then we add them to get the total overhead per department:

<u><em>Processing</em></u>

Depreciation: 55% x 59,000 = 32,450

Indirect labor: 30% x   8,000 =<u>   2,400  </u>

Total:                                           34,850

<u><em>Setting Up</em></u>

Depreciation: 20% x 59,000  =  11,800

Indirect labor: 20% x   8,000  =<u>   1,600  </u>

Total:                                            13,200

<u><em>Other</em></u>

Depreciation: 25% x 59,000  =  14,750‬  

Indirect labor: 50% x   8,000  =<u>  4,000  </u>

Total:                                           18,750

4 0
3 years ago
Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70:30 basis, respectively
Usimov [2.4K]

Answer:

Alex and Bess Partnership

Part A: Step-by-step Distribution:

                                  Cash     Noncash assets  Liabilities      Alex       Bess

December 31            $48,000    $135,000      $36,000   $94,500  $52,500

Safe cash

distribution              (26,400)                 0                   0      (18,480)    (7,920)

1st Liabilities              (21,600)                 0         (21,600)              0              0

Sale of noncash       147,000      (135,000)                            8,400      3,600    

Safe cash distrib.   (100,000)                                              (70,000) (30,000)

Final liabilities          (14,400)                  0         (14,400)               0             0

Liquidation expense (4,100)                  0                             (2,870)    (1,230)

Final distribution    (28,500)                  0                            (11,550) (16,950)

Part B: Final Statement of Partnership Liquidation:

                                   Cash     Noncash assets  Liabilities      Alex       Bess

December 31             $48,000   $135,000      $36,000   $94,500  $52,500

Sale of noncash         147,000     (135,000)                           8,400       3,600

Payment of liabilities (36,000)                         (36,000)

Liquidation expenses  (4,100)                  0                          (2,870)      (1,230)

Distribution             (154,900)                   0                0   (100,030)   (54,870)

Explanation:

a) Data and Calculations:

Profits and losses sharing ratio = 70:30

Estimated liquidation expenses = $5,500

Balance Sheet at Liquidation Date:

Cash                      $48,000     Liabilities                               $36,000

Noncash assets     135,000     Alex, capital                            94,500

                                                 Bess, capital                           52,500

Total assets           183,000     Total liabilities and capital $ 183,000

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You place an order for 1,600 units of Good X at a unit price of $53. The supplier offers terms of 2/30, net 50. a-1. How long do
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Answer:

a-1. How long do you have to pay before the account is overdue?

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a-2. If you take the full period, how much should you remit?

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b-1. What is the discount being offered?

  • 2% if you pay within 30 days

b-2. How quickly must you pay to get the discount?

  • you have up to 30 days to pay the invoice and still get the discount

b-3. If you do take the discount, how much should you remit?

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c-1. If you don’t take the discount, how much interest are you paying implicitly?

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c-2. How many days’ credit are you receiving?

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7 0
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This tactic can be defined as the influencing leader seeking support from others to influence a group.  This is an effective approach to increase group satisfaction due to the value of democratic decision-making.

The benefits of this technique are described in the question, such as the increased commitment of the faculty, who are now interested in seeing the process succeed and the objective of accreditation fulfilled.

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Latoya has developed a progressive form of hearing loss. to ensure that she is still able to perform the essential functions of
Vika [28.1K]
The one most applicable to this scenario is the <span>Americans with Disabilities Act.

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