Answer:
Stockholders' equity at the end of the year was $110,000.
Explanation:
Beginning Balance of Stockholder's Equity = $40,000
Net Income for the year = $90,000
Dividend declared in the year = $20,000
Ending Balance of Stockholder's Equity = Beginning Balance of Stockholder's Equity + Net Income for the year -Dividend declared in the year
Ending Balance of Stockholder's Equity = $40,000 + $90,000 - $20,000
Ending Balance of Stockholder's Equity = $110,000
Answer:
$100,000
Explanation:
Depreciable cost refers to the portion of an asset's costs that will be spread throughout the use-life of the asset. It is the amount to depreciated over the gainful life of the asset.
Depreciable cost is calculated by subtracting salvage value from the original cost of the asset. Salvage value is also the scrap value.
Depreciable cost = asset cost - salvage value
Depreciable cost= $120,000 - $20,000
Depreciable cost =$100,000
Answer:
$20,000
Explanation:
Since the cost is allocated equally, the depreciation expense on the purchased equipment will be calculated as:
= <u>Cost of equipment- Scrap value</u>
Useful life
= <u>$100,000 - $0</u>
5 years
= $20,000
Based on the above, the depreciation expense for the year that must be recognized by Noonan Company is $20,000.
Answer:
Clarity
Explanation:
Employment-at-will is the situation whereby an organization enters into a contractual relationship with an employee stating that they can be dismissed by the organization for any reason even without warning on the condition that the dismissal is not Illegal. Thus, to prove a wrongful dismissal based on public tort exception to employment at will is clarity.
