Appellate courts do not have to hear all of the cases they are presented. True False

Crane Company purchased a new machine on October 1, 2022, at a cost of $89,920. The company estimated that the machine has a sal

guapka [62]

Answer:

For the year 2022 , $2,515

For the year 2023, $10,060

Explanation:

In this question, we are asked to compute the depreciation expense under the straight-line method for the years 2022 and 2023 for the new machine purchased by Crane company.

We employ a mathematical approach in tackling this.

Mathematically;

Straight line depreciation = (cost - salvage value)/ number of years useful

From the question we can identify the following;

Cost of purchase= $89,920

Salvage value = $9,440

Number of years useful = 8 years

Plugging this to get the straight line depreciation, we have;

(89,920-9,440)/8 = 80,480/8 = 10,060

For the year 2022, we have ; 3 months window since, machine was purchased October and we are assuming year end December 31st

Thus, straight line depreciation for year 2022 = 3/12 * 10,060 = $2,515

For 2023, straight line depreciation = 10,060( since we have a full year)

7 0

3 years ago

Read 2 more answers

New Balance recently spent $13 million for time on television and space in selected magazines to promote its athletic shoes. Wha

denpristay [2]

Answer:

The correct answer is

advertising

good luck

7 0

3 years ago

In a capitalist economy the lenders are usually _____ and the borrowers are usually ______.

lana [24]

The answers the fit the given blanks above are FINANCIAL INTERMEDIARIES and FIRMS, respectively. In a capitalist economy, the businesses are held private and therefore, the production and the operation of the business for their profit is only owned by them.

8 0

3 years ago

Any arrangement in which the owner of a trademark, trade name, or copyright licenses another to use that trademark, trade name,

meriva

Answer:

The correct answer is: Franchise.

Explanation:

A Franchise is a company in which one party -the franchisee- gains access to the proprietary information, procedures, and trademarks of an established business -the franchisor. A franchise provides the opportunity to own a company while avoiding many of the initial challenges. The franchisee purchases the right to sell a product or service under an established brand name, the customer already knows the brand, so there is no need for additional resources to launch the products.

7 0

3 years ago

Rico Petricelli Industries invests $960,000 in plant assets with an estimated 10-year service life and no salvage value. These a

Nesterboy [21]

The payback period for this Rico Petricelli Industries' investment is 6 years.

Data and Calculations:

Cost of investment in plant assets =$960,000

Estimated useful life = 10 years

Estimated salvage value = $0

Annual depreciation = $96,000 ($960,000/10)

Annual net income = $64,000

Annual cash net inflow = $160,000 ($64,000 + $96,000)

Payback period = 6 years ($960,000/$160,000)

Thus, to compute the payback period as 6 years, add the annual depreciation to the annual net income to obtain the annual cash net inflow. Then divide the cash outlay ($960,000) by the product above.

Learn more: brainly.com/question/17109529

5 0

2 years ago