1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Contingency costs in the project costs estimate, also referred to as ____, are to cover unexpected situations that may come up d
slega [8]

Answer:

Reserves

Explanation:

Risk is any uncertain event with positive or negative consequences on a project. Contingency costs are related to risks, and therefore cannot be disregarded in risk management within a project. It is essential that management plan and prevent for the project to occur in a predictable and effective manner.

7 0
3 years ago
I contract with you to buy your desk for $100. Is this an example of common law or UCC?
Airida [17]
Its an example of UCC
6 0
3 years ago
Maya is hoping to hire lifeguards to work at her community pools this summer. What is the first step she must take in this proce
Andrew [12]

The first step Maya should take in the process of hiring lifeguards to work in the summer is to start the process of recruiting and selecting candidates.

<h3 /><h3>What is recruitment and selection?</h3>

It is the process of identifying the need to hire employees to fill open positions in an organization, according to the profile and qualifications required for the position.

Therefore, through a structured recruitment process, with resume analysis, interviews and tests, the company will identify the ideal professional to contribute with innovation and knowledge to achieve organizational goals.

Find out more about recruitment here:

brainly.com/question/10467107

7 0
2 years ago
Assume that you contribute $300 per month to a retirement plan for 25 years. Then you are able to increase the contribution to $
dmitriy555 [2]

Answer:

Total FV= $2,555,406.98

Explanation:

Giving the following information:

Investment 1:

Monthly deposit= $300

Number of months= 12*45= 540

Interest rate= 0.09/21= 0.0075

Investment 2:

Monthly deposit= $500

Number of months= 12*20= 240

Interest rate= 0.09/21= 0.0075

To calculate the future value, we need to use the following formula on each investment. <u>I separated into two to simplify calculations.</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

<u>Investment 1:</u>

FV= {300*[(1.0075^540) - 1]} / 0.0075

FV= $2,221,463.54

<u>Investment 2:</u>

FV= {500*[(1.0075^240) - 1]} / 0.0075

FV= $333,943.44

Total FV= $2,555,406.98

7 0
4 years ago
Tuity Fruity Beverage​ Company's operating activities for the year are listed below. Purchases ​$140 comma 700 Operating expense
blsea [12.9K]

Answer:

The cost of goods sold for the​ year is $134,300

Explanation:

The cost of goods sold for the​ year = Beginning inventory + Merchandise Purchased - Ending inventory

Tuity Fruity Beverage​ Company's purchases ​$140 comma 700 and has beginning inventory 12 comma 600, ending inventory 19 comma 000.

Therefore:

The cost of goods sold for the​ year = $12,600 + $140,700 - $19,000 = $134,300

3 0
3 years ago
Other questions:
  • ____ help companies meet the legal requirement that their human resource decisions be job-related.
    9·1 answer
  • Which of the following is an essential part of being an entrepreneur?
    6·1 answer
  • Select the correct definition of the term "comparative advantage." the ability to produce a good or service at a lower opportuni
    15·1 answer
  • greene co. has pretax book income for the year ended december 31, 2019 in the amount of 265000 and has a tax rate of 30%. Deprec
    9·1 answer
  • Shen spends $200 to purchase legal service from Rowan and Martin Associates. Valerie spends $8 to order a mojito cocktail. Shen
    8·1 answer
  • Jamie is researching places to live after graduating college he asked you I keep coming across as phrase cost-of-living I’ve nev
    7·1 answer
  • The All-Star Basic Value Fund's portfolio is valued at $250 million. The fund has liabilities of $23 million, and the fund’s net
    8·1 answer
  • Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of $136,000. Included in the co
    6·1 answer
  • Splish Brothers Inc. reported a net loss of $14400 for the year ended December 31, 2022. During the year, accounts receivable de
    12·1 answer
  • Country Club Center sells season memberships for $100 each. Prior to May 1, 2017, 60 season memberships were sold. The season ru
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!