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yulyashka [42]
3 years ago
11

A piece of equipment was acquired on January 1, 2018, at a cost of $55,000, with an estimated residual value of $5,000 and an es

timated useful life of five years. The company uses the double-declining-balance method. What is its book value at December 31, 2019
Business
1 answer:
nalin [4]3 years ago
8 0

Answer:

Book value 2020= $18,000

Explanation:

Giving the following information:

Purchasing price= $55,000

Residual value= $5,000

Useful life= 5 years

First, we need to determine the depreciation expense for 2018 and 2019. We will use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

2018= 2*[(55,000 - 5,000)/5]= 20,000

2019= 2*[(50,000 - 20,000)/5]= 12,000

Book value 2020= 30,000 - 12,000

Book value 2020= $18,000

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For the past year, Kayla, Inc., has sales of $44,432, interest expense of $3,074, cost of goods sold of $14,909, selling and adm
ryzh [129]

Answer:

$14,439.8

Explanation:

The computation of operating cash flow is shown below:-

The operating cash flow is shown below:

= EBIT + Depreciation - Income tax expense

where,

EBIT = Sales - cost of good sold - depreciation expense -  selling and administrative expense

= $44,432 - $14,909 - $4,965 - $10,816

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Tax expenses =  ( Earnings before interest and tax - interest expenses ) × tax rate of 40%

= ($13,742 - $3,074) × 40%

= $10,668 × 40%

= $4,267.2

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7 0
3 years ago
An aging of Bicycle Company's accounts receivable indicates that $20,000 is estimated to be uncollectible. If Allowance for Doub
V125BC [204]

Answer:

The adjustment to record bad debts for the period will be:

Debit Bad debt expense ($20,000 - $3,000)                    $17,000

Credit Allowance for doubtful accounts                            $17,000

<em>(Bad debt expense required)</em>

Explanation:

Bicylce Company adopts the aging of accounts receivable method. The aging of accounts receivable is a criterion for apportioning the balance in the accounts receivable into different buckets (aging), for example: Not due, 1 - 30 days, 30 - 60 days, over 60 days, based on historical information and assigning a credit loss percentage to each bucket.

Since the Allowance for Doubtful Accounts has a $3,000 credit, to calculate the required bad debt expense, we need to back out this amount from the amount that is deemed uncollectible, that is $20,000 - $3,000 = $17,000.

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3 years ago
According to Hackman and Oldham's job characteristics model, what type of employee would most likely be satisfied and perform at
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The type of employee that would most likely be satisfied and perform at a high level is motivated employee.

<h3>Who is Hackman and Oldham?</h3>

Richard Hackman and Greg Oldham developed a model which itself motivates employees for the jobs.

The model focuses on the perspective that if the job is not monotonous, it can  motivates the employee and would not feel discouraged to work.

Hence, the type of employee that would most likely be satisfied and perform at a high level is motivated employee.

Read more on about Hackman and Oldham here: brainly.com/question/13103980

#SPJ1

8 0
1 year ago
if demand for overnight funds in the graph should increase by $50 billion at each and every point on the demand curve, but the f
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Answer:

if each taxpayer paid the same lump-sum amount regardless of income level, the tax system would be: group of answer choices regressive. proportional. disproportionate. progressive.Franklin reviews financial data of a company to ensure accurate and complete information. Which job title does he most likely have?

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Explanation:

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1 year ago
(a)   A family consist of a baby, a child attending nursery school and working parents, decide to prepare a budget for 3 months
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