1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IgorLugansk [536]
3 years ago
15

A building acquired at the beginning of the year at a cost of $1,375,000 has an estimated residual value of $250,000 and an esti

mated useful life of 40 years. Determine the following.
(a) The double-declining-balance rate
(b) The double-declining-balance depreciation for the first year
A building acquired at the beginning of the year at a cost of $1,450,000 has an estimated residual value of $300,000 and an estimated useful life of 10 years. Determine the following:
(a) The depreciable cost
(b) The straight-line rate
(c) The annual straight-line depreciation
Business
1 answer:
BARSIC [14]3 years ago
5 0

Answer:

a. 0.05

b. $68,750

a. $1,150,000

b. 0.1

c. $115,000

Explanation:

Depreciation expense using the double declining method = Depreciation rate x cost of the asset

Depreciation rate = 2 x (1/useful life)  = 2 / 40 = 0.05

The double-declining-balance depreciation for the first year = 0.05 x $1,375,000  = $68,750

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

The depreciable cost = Cost of asset - Salvage value = $1,450,000 - $300,000 = $1,150,000

The straight line rate = 1 / useful life = 1 / 10 = 0.1

The annual straight-line depreciation = $1,150,000 x 0.1 = $115,000

You might be interested in
Approximately 300 billion dollars are given to charities each year.  A.No. It is about 30 billion dollars at the most. B.No. It'
alexdok [17]
The answer to the statement above would be TRUE. Yes, it is correct that approximately, 300 billion dollars are donated to charities each year, but this only covers those charities that are registered. There are about 40,000 charities in the United States alone. The answer for this is D.
3 0
3 years ago
7. Total Cost for Savings Piggy bank with cash Dean is planning to purchase a new Nissan Altima which costs $26,865. He has save
son4ous [18]

Answer:

The monthly deposit is calculated using PMT function :

rate = 1.2%/2 (converting annual rate into monthly rate)

nper = 12 * 5 (5 years of deposits with 12 monthly deposits each year)

pv = -3200 (Amount put into account now. This is entered with a negative sign because it is a cash outflow)

fv = 26865 (Required value of account after 5 years)

PMT is calculated to be $379.70.

The monthly deposit is  $379.70.

7 0
3 years ago
This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $75,300 and he rece
photoshop1234 [79]

Answer:

Evan's AGI is $ 66,000 and his taxable income is $ 54,000

Explanation:

To calculate the AGI you have to perform the following:

Salary                                                                                                 $ 67,300

work hourly pay                                                                                     <u>$ 700</u>

Gross pay                                                                                             $68,000

Modified AGI                                                                                       $ 68,000

<h3>Student loan interest deduction (2500)-((68000-65000)×(2500/15000)) =                                                    $-2000</h3>

AGI                                                                                                          $66,000

Next, to calculate the taxable income you have the follwong substraction

AGI                            $ 66,000

Standard deduction   $12,000

Personal deduction   <u>       0        </u>

Taxable Income         $ 54,000

4 0
3 years ago
Equired: 1-a. the marketing manager argues that a $10,000 increase in the monthly advertising budget would increase monthly sale
Elza [17]
Fixed expenses are $76,000 per month and the company is selling 4,600 units per month.

3 0
3 years ago
Which of the following characteristics describe intangible assets? (You may select more than one answer. Single click the box wi
zimovet [89]

Answer: An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible

1. They lack physical existence.

2. They provide long-term benefits.

3. They are classified as long-term assets.

Explanation:

Examples of intangible assets include goodwill, brand recognition, copyrights, patents, trademarks, trade names, and customer lists. You can divide intangible assets into two categories: intellectual property and goodwill. Intellectual property is something that you create with your mind, such as a design.

5 0
3 years ago
Other questions:
  • As of june 30, 2019, great adventures finishes its first 12 months of operations. if suzie wants to prepare financial statements
    7·1 answer
  • What talents or skills do u admire most in others
    11·2 answers
  • Having a good credit score is important because
    7·2 answers
  • Which of the following is not true about the law of diminishing returns? It is a short run phenomenon. It refers to diminishing
    9·1 answer
  • What is considered a liability in finance and why is it being used?
    10·2 answers
  • Companies engaged in a single line of business most commonly utilize an organizational structure that can be:_______.
    8·1 answer
  • The difference between supply and quantity supplied is that "supply" refers to the ___________ and "quantity supplied" refers to
    15·1 answer
  • Flounder has year-end account balances of Sales Revenue $843,779, Interest Revenue $12,160, Cost of Goods Sold $531,052, Adminis
    5·1 answer
  • Fixed vs variable cost preference. bates operates a kiosk at a local mall, selling duck calls for $30 each. the variable cost to
    6·1 answer
  • Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!