The lower the market price,

Oriole Company purchased machinery on January 1, 2020, for $96,000. The machinery is estimated to have a salvage value of $9,600

Mariulka [41]

Answer: See explanation

Explanation:

a. Compute 2020 depreciation expense using the straight-line method.

This will be:

= (Cost of the asset - Salvage value) / Useful life of the asset

= ($96,000 - $9600) / 8

= $86400 / 8

= $10,800

b. Compute 2017 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2017.

This will be:

= $10,800 × 3/12

= $10800 × 0.25

= $2700

6 0

3 years ago

Carlson, Inc. owns 80 percent of Madrid, Inc. Carlson reports net income for 2018 (without consideration of its investment in Ma

Marina86 [1]

Answer:

$2,176,000

Explanation:

The computation of the Carlson’s share of consolidated net income is shown below:

= Net income for 2018 + Madrid net income × ownership percentage + income from bond + excess interest

= $1,500,000 + $705,000 × 80% + $110,000 + $2,000

= $1,500,000 + $564,000 + $110,000 +$2,000

= $2,176,000

The income from bond would be

= $1,200,000 - $1,090,000

= $110,000

And, the excess interest would be

= $96,000 - $94,000

= $2,000

4 0

3 years ago

Knoll Company started Year 2 with a $1,000 balance in its Cash account, a $200 balance in its Supplies account and a $1,200 bala

Eddi Din [679]

Answer:

$750

Explanation:

Calculation to determine what the amount of supplies expense reported on the Year 2 income statement is:

Using this formula

Supplies expense=Balance in Supplies account

+Cash paid to purchase supplies)-Supplies on hand

Let plug in the formula

Supplies total amount =($200 + $600) -$50

Supplies total amount=$800-$50

Supplies total amount=$750

Therefore the amount of supplies expense reported on the Year 2 income statement is:$750.

8 0

3 years ago

Large-scale integrated (LSI) circuit chips are made in one department of an electronics firm. These chips are incorporated into

Masteriza [31]

Answer:

A) sample size = 23.475 ≈ 23

B) How to tell someone to do the test is by taking a sampling process of a lot of the products because this will help to figure out defective units in the line of production and also ensure that the quality of the products are up to the same quality required

Explanation:

Data given

AQL = 20%, = 0.2

LTPD = 52% = 0.52

Assuming consumer risk acceptable by company = 10%

producer risk = 5%

A) First we calculate the ratio

= LTPD / AQL = 0.52 / 0.2 = 2.6

from the table of LTPD/AQL 2.6 is closest to 2.768

to calculate the sample size we apply the formula from the exhibit table

n ( AQL ) = 4.695

Therefore n ( sample size ) = 4.695 / 0.2 = 23.475

B) How to tell someone to do the test is by taking a sampling process of a lot of the products because this will help to figure out defective units in the line of production and also ensure that the quality of the products are up to the same quality required

5 0

3 years ago

Fortunately, there are only a few americans who place appetite above patriotism. the overwhelming majority realize that the food

alina1380 [7]

A) <span>conserving resources at home so troops can have more </span>

8 0

4 years ago

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