Answer:
$12,500
Explanation:
Depreciation Expense = (Book Value of machine - Residual Value)/Useful Life
= ($34,000 - $2,000)/8
= $4,000 per year
Depreciation Expense for years 2017 & 2018 would be $4,000 X 2 = $8,000
Net book Value on January 1, 2019 = $34,000 - $8,000 = $26,000
New Residual Value = $1,000
New Useful Life = 8 - 2 - 4 = 2 Years
Depreciation expense for 2019 = ($26,000 - $1,000)/2 = $12,500
The company incurs costs in receiving, inspecting, identifying, and returning the merchandise. More returns create more expenses.
Is cost of sales an expense?
Cost of Goods Sold is also known as “cost of sales” or its acronym “COGS.” COGS refers to the cost of goods that are either manufactured or purchased and then sold.
COGS counts as a business expense and affects how much profit a company makes on its products.
What are the depreciation expense?
Depreciation expense is that portion of a fixed asset that has been considered consumed in the current period.
This amount is then charged to expense. The intent of this charge is to gradually reduce the carrying amount of fixed assets as their value is consumed over time.
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Answer:
The correct word for the blank space is: Sharecropper.
Explanation:
Sharecroppers were farmers who used to lease lands for the crop of different commodities. In exchange, the landowner used to receive a portion of the crop at the end of every year. This practice was mostly developed in the U.S. south by former slaves.
During the Reconstruction era (1865-1877) white landowners entered in conflict with freed blacks who were fighting for their total independence after the Civil War (1861-1865).
Answer:
$2 per-unit cost of production
Explanation:
since 20 units are produced and 10 units of input are used so,
divide 20/ 10 to get per unit cost of production.
20/10 = $2
15? since you have 10 left on hand after last night's inventory check you should get 15 if you don't know the rate at which each are sold.
