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
Ahat [919]
3 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]3 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

You might be interested in
Presented below is the operating activities section of the statement of cash flows for Golden Consulting for 2016:
dimaraw [331]

Answer:

b. The indirect method

Explanation:

The Operating Activity Section Calculates the Net Cash flow from Operating Activities. It can be prepared in only two methods according to IAS 7.The methods are Indirect Method, Direct Method

Indirect Method Reconciles the Net Income for the Year to the Net Cash  flow from Operating Activities after adjustments of Non- Cash flow Items, and Adjustments for Working Capital Movements.

Direct Method focuses on the Cash Inflows and Outflows related to the Operating activities to Calculate the Net Cash  flow from Operating Activities.These Cash flows results from Receipts from Customers and Payments made to Suppliers and Employees

6 0
3 years ago
Marin's Cleaning Supplies Company has an idea for a cleaner that is universal and can clean any surface type. This could simplif
Oksana_A [137]

Answer:

Test marketing.

Explanation:

Test marketing is an experimental tool used by manufacturers to test the viability of their products under typical market conditions, comprised of stores and real life buying situations, in order to determine its sales performance and ascertain its acceptability by consumers.

Hence, Marin's Cleaning Supplies Company when doing business analysis should consider test marketing strategy when deciding whether to develop the cleaner.

4 0
3 years ago
The owners of a corporation are the __________ (shareholders of the company, board of directors, or management team members). Th
mario62 [17]

Answer :

The owners of a corporation are the __________ (shareholders of the company, board of directors, or management team members). The primary goal of the corporate management team is to (minimize or maximize) the shareholder's wealth by __________ (minimizing or maximizing) the company's (employee retention and efficiency, company's stock price, or company's production costs) over the long run.

Explanation :

Shareholders are the primary owners of the company who have company's common stock with expectation on their investment in form of dividends and share appreciation.

The primary goal of the corporate management team is to maximize the wealth of their principal (shareholders) who have entrusted them with their fortunes .

Shareholders' wealth maximization objective is achieved when management team invest in a viable project or reduce the operating costs of the company.

6 0
3 years ago
The three key functions of sensation are, respectively, _____.
Elina [12.6K]
The answer to this question is <span>detection, stimulation, and transmission
In this context, detection refers to the capability to catch the stimuli around us. Stimulation refers to everything around us that could trigger a certain response in us, and transmission refers to transform the stimuli that received into emotional output or actions.</span>
6 0
3 years ago
Which of the following impacts your body language and how others may perceive you?
dimulka [17.4K]
Eye contact

Face expression

Movement

Posture
3 0
3 years ago
Read 2 more answers
Other questions:
  • A cost accountant is developing a regression model to predict the total cost of producing a batch of printed circuit boards as a
    14·1 answer
  • For the last several years, the country of Amerensia has been moving from a communist country to a more mixed economic system. W
    15·1 answer
  • The price elasticity of supply for umbrellas is 2. Suppose you're told that following a price increase, quantity supplied increa
    11·1 answer
  • A large law firm uses an average of 10 packages of copier paper a day. Each package contains 500 sheets. The firm operates 260 d
    6·1 answer
  • A. illustrate that the system is in a safe state by demonstrating an order in which the processes may complete.
    8·2 answers
  • If financial markets were inefficient,
    15·1 answer
  • Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ___
    9·1 answer
  • Select two ways of becoming a business owner. compare the advantages and disadvantages and decide which of the two you would pre
    5·2 answers
  • Could you help with the question, please?
    14·1 answer
  • (ASAP) please help….
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!