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pickupchik [31]
3 years ago
14

Problem 11-1 Jain Mart is to depreciate an asset bought for $500,000 using the SOYD method over a life of 8 years. If the deprec

iation charges in year 3was $80,000, determine the salvage value used in computing the depreciation charges in year 3. A. $50,000 B. $20,000 C. $1
Business
1 answer:
pickupchik [31]3 years ago
5 0

Answer:

B. $20,000

Explanation:

Depreciation in year 3 = $80,000

According to the sum of the Years' Digits Depreciation, the depreciation for an asset bought for $500,000 and an expected life of 8 years, at year 3, is given by:

D_{y=3}=\$80,000 = \frac{8-2}{8+7+6+5+4+3+2+1}*(\$500,000-Salvage) \\Salvage = 6*(\frac{\$500,000}{6} -\$80,000)\\Salvage=\$20,000

The salvage value used in computing the depreciation charges is $20,000.

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natta225 [31]

Routine purchases may only require internal information search, whereas one-time high expense purchases require more external information search time.

<h3>What is Routine purchases?</h3>

The  routine purchases are one that people make to seek for  little decision-making, however this purchases are made with “programmed behavior.

Hence , Routine purchases may only require internal information search, whereas one-time high expense purchases require more external information search time.

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7 0
2 years ago
Written notice of an Investigative Report must be given within ______ advance notice before the report beings.
Tpy6a [65]

Answer:

3 days.

Explanation:

An Investigative report can be defined as a report prepared by a forensic expert or professional in the unraveling of a crime or issue.

Written notice of an Investigative Report must be given within 3 days advance notice before the report beings.

Basically, an investigative report is required or expected to give an insured person not more than 3 days advance written notice before the report will begin.

3 0
3 years ago
Crimson Corp. has a component that is a discontinued operation. The component incurred a loss from operations of $40,000. The co
zavuch27 [327]

Answer:

$60,000 income tax benefit

Explanation:

Since Crimson Corp. had a loss from operations and sold the asset for a loss we know that they lost money with the asset and an income tax benefit was generated. To calculate the income tax benefit we need to add both losses: $40,000 (operation) + $160,000 (sale) = $200,000 in total losses.

$200,000 x 30% = $60,000 income tax benefit

6 0
3 years ago
Kijijo Auctions runs an online auction company. Its end-of-year financial statements indicate the following results. Total asset
katrin [286]

Answer:

40%

Explanation:

Total assets. $240,000

Less total liabilities ($130,000)

$110,000

Less common stock ($24,000)

Retained earnings at end $86,0000

Less Retained earnings at the beginning ($29,000)

Addition to retained earnings $57,000

Add dividends $6,400

Net profit earned $63,400

Add expenses $94,000

Revenue. $157,400

Therefore, company's net profit margin expressed as a percentage = Net profit earned / Revenue

= (63,400/157,400) × 100

= 40%

6 0
3 years ago
A more professional focus of running events started to take place during the late 1800s. The catalyst for such a professional fo
UkoKoshka [18]

Answer: D. a desire to increase profits

Explanation:

During the late 1800s, a more professional focus of running events began to take place. The main reason for such a professional focus emphasis occurred due to a desire to increase profits.

It was realized that having a more professional focus on running events could bring about more funds and also bring about more intersted spectators.

3 0
4 years ago
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