Answer:
Please refer explanation and tables attached
Explanation:
1. Double-declining balance Method:
This is where the asset's value is depreciated at twice the rate than the straight line method. The depreciation amounts would be higher in the early years of the asset's life and gradually reduce towards the end. Hence, it does not mean that the depreciation amount would be higher than the straight line basis.
Straight Line depreciation per year = 1/6* x 100 = 16.67%
*as it is useful for six years
Hence double-depreciation value = 16.67% x 2 = 33.34%
It is calculated as depreciation rate x book value of asset at the beginning of the period.
Please refer attached table one for all years depreciation.
2. Activity based depreciation is whereby an asset is depreciated based on the asset’s activity such as the number of hours worked or the number of units produced, during a particular period of time. Activity based depreciation per year is calculated as:
[(Cost - Salvage value) x activity performed during the period] / Total estimated life activity of the asset
Please refer attached table two for all years depreciation.
Answer:
Debit bonds payable $310000
Explanation:
Based on the information given The entry to record the conversion of the bonds will includes all of the following entries except Debit bonds payable $310000 reason been that we were told that On January 1, the par value bonds of $300,000 has with a carrying value of the amount of $310,000 which was converted to 50,000 shares of $5 par value common stock, which means that we are supposed to debit the amount, credit it to Equity/common stock.
Answer:
November 30
Explanation:
According to the revenue recognition principle, revenues are recognized when they are realized or realizable, and are earned no matter when cash is received.
Answer:
$3,150
Explanation:
Data provided in the question
Number of shares owned = 15,000 shares
Dividend per share = $0.21
So, the total dividend received is
= Number of shares owned × Dividend per share
= 15,000 shares × $0.21 per share
= $3,150
We simply multiplied the number of shares owed with the dividend per share so that the total dividend could come
Answer:
True
Explanation:
I believe it's true. If we have a job opening for sales personnel and candidate is physically unable to walk or drive, then yes we can exclude that candidate. But once hiring manager is sure of the fact that disability will render that candidate unable to work then manager can preclude that candidate.
