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Gnoma [55]
3 years ago
12

On May 1, 2015, Pinkley Company sells office furniture for $300,000 cash. The office furniture originally cost $750,000 when pur

chased on January 1, 2008. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $75,000. What depreciation expense should be recorded on this asset in 2015?a. $22,500.
b. $90,000.
c. $45,000.
d. $47,500.
Business
1 answer:
Aliun [14]3 years ago
4 0

Answer:

a. $22,500

Explanation:

The computation of the depreciation expense using the straight line method is shown below:

= (Original cost - salvage value) ÷ (useful life)

= ($750,000 - $75,000) ÷ (10 years)

= ($675,000) ÷ (10 years)

= $67,500

In this method, the depreciation is same for all the rest of the useful life

Now for 4 months, it would be

= $67,500 × 4 months ÷ 12 months

= $22,500

The four months is calculated from January 1 to May 1

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The U.S. Securities and Exchange Commission periodically charges individuals with insider trading and claims those individuals h
Delicious77 [7]

Answer:

The correct answer is option d.

Explanation:

The effficent market hypothesis is an investment theory which advocates that the stock prices reflect all the available information. As a result, stocks are always traded at their fair value.

The strong form of efficient market says that stock prices reflect all information whether public or private.

This implies that investors cannot have more than normal profits. In the above example, the investors are able to make profit through insider information. This means that the market is less than strong form efficient.

6 0
3 years ago
Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using what kind of pricing
cricket20 [7]

Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using a block pricing strategy.

A product is an object, system, or service provided to consumers on demand. That's all we can offer to the market to meet your wants and needs.

Item is for sale. Products are services or items. It can be in physical or virtual or cyber form. All products are made at one price and sold at one price. Calculated prices vary by market, quality, marketing, and target segment.

Learn more about products here:brainly.com/question/25922327
#SPJ4

8 0
1 year ago
Last year Lawn Corporation reported sales of $115,000 on its income statement. During the year, accounts receivable decreased by
julia-pushkina [17]

Answer:

$125,000

Explanation:

Particulars                                                     Amount

Sales revenue                                            $115,000

Add: Accounts receivable decrease        <u>$10,000</u>

Cash Receipt from customers                 <u>$125,000</u>

The sales revenue adjusted to a cash basis for the year is $125,000.

4 0
3 years ago
The average rate of growth for slow-growth countries is around 2% per year, and for fast-growth, greater than 5% per year.Suppos
Alexxandr [17]

Answer:

It would take exactly 37 years

Explanation:

If we suppose that the economy starts at 10,000 billion dollars in 2020, the economy would only double by the year 2057, reaching a value of 20,399 billion dollars.

If we substract 2020 from 2057, we obtain 37, which is the number of years it took for this economy to double growing at a rate of 2% per year.

8 0
3 years ago
Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below
ehidna [41]

Answer:

The gross profit for Adams Company at the end of the first quarter is $1,000

Explanation:

Since in the question it is given that Job 356 and Job 357 is sold at a profit of $500 each. So, for these two the gross profit would be

= Job 356 profit + Job 357 profit

= $500 + $500

= $1,000

The Jobs 356, 357, 358, and 359 were completed which means Job No 360 is in work in process , and Job 358,359,360 have no profit that means they are in the inventory whereas Job 356 and 357 are in sale part.

Therefore, the gross profit for Adams Company at the end of the first quarter is $1,000

8 0
3 years ago
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