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Ahat [919]
2 years ago
11

New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery fo

r $580,000. The ovens originally cost $778,000, had an estimated service life of 10 years, and an estimated residual value of $48,000. New Morning Bakery uses the straight-line depreciation method for all equipment. Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year.
Business
1 answer:
spayn [35]2 years ago
5 0

Answer:

The balance in the accumulated depreciation account at the end of the second year is $146,000.

Explanation:

Straight line method charges a <u>fixed depreciation charge</u> on the asset during its period of use.

Depreciation Expense (Straight line) = Cost - Residual Amount ÷ Estimated Useful life

                                                             = $778,000 - $48,000 ÷ 10

                                                             = $73,000

Therefore, for each year, a depreciation expense of $73,000 is charged to profit an loss.

Accumulated Depreciation Calculation :

Depreciation Expense : Year 1     $73,000

Depreciation Expense : Year 2    $73,000

Total Expense                              $146,000

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Southeastern Bank organizes its loan operations based on the market served—consumer, small business, or nonprofit organizations.
bezimeni [28]

Answer:

customer group

Explanation:

Customer departmentalization is where the organization’s activities are ready to respond to and interact with specific customers or customer groups.

This organizational form is used when great emphasis is placed on effectively serving different customer types.

If Southeastern Bank organizes its loan operation based on customers group, this will allow Southeastern Bank to better serve borrowers with different needs by offering customized loan arrangements according to the customers preferences.

<u>Advantages of customer departmentalization </u>

  • Encourages concentration on customer needs.
  • Gives customers feeling that they have an understanding supplier (banker).
  • Develops expertness in the customer area.
  • Saves customers’ time.
3 0
3 years ago
Puedes enviar documentos escaneados o Digitalizados desde el Celular​
love history [14]

<em>Cierto </em>

<em>Solo depende del tipo de teléfono que se utilice para enviar el documento. Creo que hay algunos teléfonos que se configuran más como computadoras que te permiten enviar documentos. Sin embargo, hay muchos teléfonos que no cuentan con esta función y es probable que la mayoría de los teléfonos celulares que usa la gente en la actualidad no realicen esta acción.</em>

<em>Espero que esto te ayude y que tengas un buen día.</em>

<em>-R3TR0 Z3R0</em>

4 0
2 years ago
From a business perspective, ___________ taxes are analogous to the personal property taxes paid by individuals.
Anvisha [2.4K]

Answer:

c. inventory

Explanation:

As per the business perspective, the inventory taxes should be analogous for the personal property taxes that paid by the individuals as the inventory taxes is involved in the business property tax i.e. tangible as well as personal

Therefore as per the given options, the option c is correct

And, the other options are incorrect

5 0
2 years ago
Indigo Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the fir
Tema [17]

Answer and Explanation:

a. The journal entries are shown below:                    

On Feb 1

Cash Dr $2,782,000  (53,500 shares × $52)

      To Preferred stock  $2,675,000    (53,500 shares × $50)

      To Paid in capital in excess of par - Preferred stock  $107,000

(Being the issuance of the preferred stock is recorded)

On July 1

Cash Dr $4,018,500  (70,500 shares × $57)

      To Preferred stock  $3,525,000    (70,500 shares × $50)

      To Paid in capital in excess of par - Preferred stock  $493,500

(Being the issuance of the preferred stock is recorded)

For recording these both transactions we debited the cash as it increased the assets and credited the preferred stock and additional paid in capital as it also increased the stockholder equity

b. The posting is as follows

                                     Preferred Stock

Date                               Debit               Date               Credit

                                                                       1-Feb $2,675,000  

                                                                         1-Jul $3,525,000

                            Paid in capital in excess of par - Preferred stock

Date                                Debit          Date           Credit

                                                                        1-Feb      $107,000

                                                                         1-Jul       $493,500

c. Now the presentation is shown below:

Preferred stock, $50 par value, 124,000 issued and outstanding - $6,200,000

Paid in capital in excess of par - Preferred stock - $600,500

It is presented on the stockholder equity statement

3 0
3 years ago
This company was incorporated as a new business on January 1, 2019. The company is authorized to issue 50,000 shares of $5 par c
weqwewe [10]

Answer:

Amount of the company's total capital stock at December 31, 2019:

Common stock = 8,000 x $15 =                 $120,000

Preferred stock = 2,000 x $30 =               <u>$60,000</u>

Total issued share capital                          $180,000

Add: Net income at 31 December, 2019    <u>$375,000</u>

Total capital stock                                        <u>$ 555,000</u>

<u />

Explanation:

Total capital stock is the aggregate of par value of common stock, par value of preferred stock and net income.

8 0
2 years ago
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