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Andreyy89
4 years ago
8

Given the following information for O'Hara Marine Co., calculate the depreciation expense: sales = $38,000; costs = $21,000; add

ition to retained earnings = $5,000; dividends paid = $1,500; interest expense = $5,000; tax rate = 35 percent.
Calculate the depreciation expense. (Do not round intermediate calculations.) Depreciation expense $
Business
1 answer:
a_sh-v [17]4 years ago
4 0

Answer:

Depreciation expense $2,000

Explanation:

Sales less cost less depreciation less interest less tax = retained earnings plus dividend paid

sales = $38,000

Costs = $21,000

addition to retained earnings = $5,000

dividends paid = $1,500

interest expense = $5,000

tax rate = 35 percent.

Let the depreciation be d

38000 - 21000 - 5000 - d - 0.35(38000 - 21000 - 5000 - d) = 5000 + 1500

0.65(38000 - 21000 - 5000 - d) = 6500

38000 - 21000 - 5000 - d = 10000

d = 38000 - 21000 - 5000 - 10000

d = 2000

Depreciation expense $2,000.

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Basel Convention

Explanation:

The overarching objective of the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal, also known as the Basel Convention, is to protect human health and the environment against the adverse effects of hazardous wastes. This is China's main contribution towards social responsibility and environmental management that will surpass the United States contribution.

3 0
3 years ago
Goldberg Corporation has three production departments A, B, and C. Goldberg Corporation also has two service departments, Admini
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Answer:

$ 58,333 Personnel costs is allocated to B

Explanation:

According to the given data the Employees to be considered for allocation = A+B+C = 15+5+10 = 30 employees

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Allocated cost =Personnel Dept direct cost x No. of employees for B/Total employees =

Allocated cost = $ 350,000 x 5/30 = $ 58,333

$ 58,333 Personnel costs is allocated to B

8 0
3 years ago
Which buyclass framework occurs when a company chooses to shop around for suppliers​ with, perhaps, a better price​ structure? A
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Option C

Modified rebuy framework occurs when a company chooses to shop around for suppliers​ with, perhaps, a better price​ structure

<h3><u>Explanation:</u></h3>

Modified Rebuy a purchasing circumstances in which an self or company acquires products that have been acquired earlier but varies unless the supplier or any another part of the former plan.  In this the customer requires to alter goods stipulations, terms, costs, suppliers.

In this instance the “in supplier” has to preserve his statement whereas the “out supplier” views it as a more generous proposal and earn some market. A modified rebuy is limited risky and utilizes more limited time. A new goods enlightenment from the pioneer version eternally generates a revised rebuy situation.

4 0
3 years ago
On January 1, a machine with a useful life of 10 years and a residual value of $76000 was purchased for $280000. What is the dep
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In one of the case studies in the textbook, Cy Chesterly was the vice president in charge of sales for one of the largest machin
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Chesterly used to provide special deals to company customers and used to receive bribery from these customer in return.

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The company products and services were sold by Chesterly to its customers at a discounted price because both the Chesterly and its customer had agreed that Chesterly will receive a share of return from its customers. This was against the fiduciary duty of Directors and resulted in loss of profits to company which was not in the best interests of shareholders or in other words the director Chesterly committed fraud.

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4 years ago
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