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12345 [234]
2 years ago
7

bridgeport company changed depreciation methods in 2020 from double-declining-balance to straight-line. depreciation prior to 20

20 under double-declining-balance was $89,400,
Business
2 answers:
MrRa [10]2 years ago
8 0

Based on the depreciation prior to 2020, the beginning balance when 2020 began was $146,100

<h3>What was the opening balance?</h3>

The opening balance can be found as:

= Cost of depreciable assets - Accumulated cost under double-declining balance

This gives:

= 235,500 - 89,400

= $146,100

This is the opening balance on the depreciable assets because the net book value of a fixed asset is found by deducting accumulated depreciation from the cost.

The accumulated depreciation in this case was $89,500 so it will be deducted from the $235,500 cost.

The rest of the question is:

Bridgeport Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining balance was $ 89,500 whereas straight-line depreciation prior to 2020 would have been $ 45,500. Bridgeport's depreciable assets had a cost of $ 235,500 with a $ 36,900 salvage value, and an 7-year remaining useful life at the beginning of 2020.

What is the beginning balance in 2020?

Find out more on double-declining depreciation at brainly.com/question/24296752

#SPJ1

photoshop1234 [79]2 years ago
7 0

The depreciation expense using the straight-line method would have been $44,700

What is the double-declining balance method?

It is a method of depreciating assets where the amount charged each year as depreciation is twice that of the depreciation expense that would have been if the straight-line depreciation method was used.

Depreciation rate using double declining method=100%/useful life*2

the "2" in the formula means double-declining, and the rate of depreciation is 200% of the straight-line method

useful life=assuming it is 5 years

Depreciation rate using double declining method=100%/5*2=40%

What is a straight-line method of depreciation?

It is the method where the depreciation expense per year is the asset cost minus residual value divided by the asset's useful life.

If the depreciation expense using the double-declining balance method in 2020 was $89,400, it means the depreciation expense under the straight-line method would have been half of that(i.e.100%/200%)

depreciation expense(straight-line method)=$89,400*100%/200%

depreciation expense(straight-line method)=$44,700

Find out more about depreciation methods on:brainly.com/question/3729664

#SPJ1

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Wendell Company provided the following pertaining to its recent year of operation:
myrzilka [38]

Answer:

Option (B) is correct.

Explanation:

Wendell's total stockholders' equity increase during the recent year of operation:

= Issued common stock - Cash dividend declared + Net Income - Stock dividend distributed + Sale of treasury stock below cost

= $50,000 - $20,000 + $70,000 - $23,000 + $7,000

= $84,000

Therefore, Wendell's total stockholders' equity increase by $84,000.

3 0
3 years ago
Dominic heads the corporate communications department of Zookey Technologies. Eva is his least preferred coworker because her pe
Angelina_Jolie [31]

Answer:

The correct answer is A that is Relationship oriented leadership style.

Explanation:

Relationship oriented is an approach of the leadership style in which an individual or the person focuses or aim on the general well being as well as the motivation of the team members.

In this case, Dominic is most preferred in comparison to Eva as Dominic has a  pleasing personality and she is also helpful to other coworkers. So, she has a relationship-oriented style.

8 0
3 years ago
For m &gt; p2, the demand functions for goods 1 and 2 are given by the equations, x1 =m/p2 - 1 and x2 = p1/p2, where m is income
dmitriy555 [2]

Answer:

Option B is correct.

<u>A horizontal line</u>

Explanation:

Then for m > 2 , the income offer curve would be a horizontal line.

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3 years ago
Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of
RSB [31]

Answer:

Answer for the question:

Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $107,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $184 per share. (Round answers to 0 decimal places, e.g. $1,225. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a) enter an account title for case A

is given in the attachment.

Explanation:

Download pdf
3 0
3 years ago
Barbara is a producer in a monopoly industry. Her demand​ curve, total revenue​ curve, marginal revenue​ curve, and total cost c
maks197457 [2]

Answer:

D

Explanation:

Profit is Maximize when MR = MC

since MR=40 - 0.5Q

and  MC= 4

Therefore:

40-0.5Q = 4

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-0.5Q= -36

divide through by -0.5

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since Q = 72

from Q = 160 - 4p

72 = 160 - 4P

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-4P = -88

divide through by -4

P = 22

5 0
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