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tigry1 [53]
3 years ago
9

on January 1, 2017, anodel, Inc. acquired a machine for 1,010,000. the estimated useful life of the asset is five years. residua

l value at the end of fiev years is estimated to be 62000. calculate the depreciation expensive per year using the straight line method
Business
1 answer:
Licemer1 [7]3 years ago
6 0

Answer:

Annual depreciation= $189,600

Explanation:

Giving the following information:

On January 1, 2017, anodel, Inc. acquired a machine for 1,010,000. the estimated useful life of the asset is five years. residual value at the end of five years is estimated to be 62000.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,010,000 - 62,000)/5= $189,600

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Help pls need for a test!
Nookie1986 [14]

Answer:

TRUE

Explanation:

#carry on learning

6 0
2 years ago
Assume that you have a balance of $4000 on your credit card and that you make no more charges. If your APR is 23.9% and each mon
KatRina [158]

Answer:

The balance will be less than $100 after 44 months payment

Explanation:

In this question, we are asked to calculate the time at which the Balance on a credit card would be less than $100.

To calculate this, we proceed as follows;

The monthly Interest rate = 23.9%/12 = 1.99166667%

Balance after t months = Credit Card balance * [(1 + Monthly interest rate ) * (1- Minimum payment rate)]^t

The credit card balance is $4,000, and the minimum payment rate is 5%

We plug these values into the equation to get;

$4,000 * [(1+1.99166667%) * (1 - 5%)]^t

= $4000 *[1.0199166667 * 0.95]^t

= $4000 * (0.968920836)^t

Balance after t months < 100

$4,000 * (0.968920836)^t < 100

(0.968920836)^t < 0.025

t = 43.9 months = 44 months

6 0
3 years ago
Read 2 more answers
Windsor, Inc. uses a perpetual inventory system and reported $512,000 of inventory at the beginning of the month based on a phys
Lisa [10]

Answer:

--Correct Answer =  $ 2,000

Explanation:

the step by step Workings can be seen below

Beginning Inventory                                           $512,000

Add: Purchases                                                   $53,000

Less: Cost of goods Sold                                   $48,000

Ending Inventory as per perpetual method      $517,000

Less: Ending Inventory as per physical count  $515,000

Shrinkage amount                                                $2,000

7 0
3 years ago
Randolf, a wealthy connoisseur of arts, was invited to an art exhibition. He became very interested in one of the showcased pain
Citrus2011 [14]

Answer:

The answer is A. Mutual mistake

Explanation:

A contract is an agreement ( whether written or verbal ) between two parties that is legally binding.  

A mutual mistake occur in a contract when both parties to a contract are mistaken about a material fact. It is a situation where the parties to a contract have identical misconception about a material fact in the contract.

In the explanation given in the contract between Randolf and the Art gallery manager, it is obvious that the art painting that is to be bought and sold was not well clarified by both parties, and the art manager acted based on an invalid assumption.

Hence the correct answer to this question is  A. Mutual mistake

7 0
3 years ago
Read 2 more answers
___________are funds that the bank keeps on hand that are not loaned out or invested in bonds. group of answer choices
Nadusha1986 [10]

Certificates of deposit exist as funds that the bank keeps on hand that exists not loaned out or invested in bonds.

<h3>What are certificates of deposits?</h3>

Unsecured negotiable promissory notes, or certificates of deposit (CDs), are frequently issued by commercial banks and other financial organizations.

A certificate of deposit (CD) is a type of savings account where the issuing bank pays interest in exchange for holding a specified sum of money for a predetermined length of time, such as six months, a year, or five years. You will receive the amount you initially invested plus any interest when you cash in or redeem your CD.

Bonds and certificates of deposit (CDs) are comparable but not the same. Both of these securities are fixed-income investments that the holder keeps until the due dates. Investors invest money in bonds or CDs for a predetermined amount of time, and when that time expires, they receive their money back.

To learn more about certificate of deposit refer to:

brainly.com/question/1874937

#SPJ4

5 0
1 year ago
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