Settlers from which european country frequently imposed a mandatory draft of indian labor for public projects?

Monte’s Coffee Company purchased packaging equipment on January 5, 2014, for $86,900. The equipment was expected to have a usefu

lesantik [10]

Answer:

1.A

2014 Depreciation

Straight line method $26,667

Units-of-output $34,560

Double declining balance $57,933

2015 Depreciation

Straight line method $26,667

Units-of-output $26,840

Double declining balance $19,311

2016 Depreciation

Straight line method $26,667

Units-of-output $18,600

Double declining balance $6,437

1.B Total Depreciation in 3 years

Straight line method $80,000

Units-of-output $80,000

Double declining balance $83,681

2. Double declining balance yields the highest depreciation expense over the three-year life of an equipment

Explanation:

1.A In computing straight line method, the formula would be:

(cost of equipment - salvage value) / life of equipment

2014

(86,900 - 6,900) / 3 years = 26,667

2015

(86,900 - 6,900) / 3 years = 26,667

2016

(86,900 - 6,900) / 3 years = 26,667

TOTAL DEPRECIATION IN 3 YEAR LIFE OF EQUIPMENT = $80,001 ($26,667 + $26,667 + $26,667)

UNITS-OF-OUTPUT METHOD

Formula: (Cost of equipment - salvage value) / total operating hours of equipment x operating hours used for the year

2014

($86,900 - 6,900) / 20,000 x 8,640

($80,000 / 20,000) x 8,640

$4 per hour x 8,640 = $34,560

2015

$86,900 - 6,900) / 20,000 x 6,710

($80,000 / 20,000) x 6,710

$4 per hour x 6,710 = $26,840

2016

$86,900 - 6,900) / 20,000 x 4,650

($80,000 / 20,000) x 4,650

$4 per hour x 4,650 = $18,600

TOTAL DEPRECIATION IN 3 YEAR LIFE OF EQUIPMENT = $80,000 ($34,560 + $26,840 + $18,600)

DOUBLE DECLINING BALANCE

Formula: 100%/life of equipment x 2

*residual value will not be considered in this method of computation of depreciation expense.

2014

100% / 3 years x 2 = 66,67%

86,900 x 66.67% = $57,933

2015

100% / 3 years x 2 = 66,67%

$86,900 - $57,933 = $28,967

$28,967 x 66.67% = $19,311

2016

100% / 3 years x 2 = 66,67%

$86,900 - ($57,933 + $19,311) = $9,656

$9,656 x 66.67% = $6,437

TOTAL DEPRECIATION IN 3 YEAR LIFE OF EQUIPMENT = $83,681 ($57,933 + $19,311+ $6,437)

2. The method that yields most depreciation over the three-year life of an equipment is the DOUBLE DECLINING METHOD in a total amount of $83,681

6 0

3 years ago

a personal account earmarked as a retirement supplement contains $292,200. suppose $250,000 is used to establish an annuity that

Hoochie [10]

Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6000 at the end of each quarter. It will take about 120 quarters until the account balance reaches $0.

Amount invested (Present value) = $250000

Quarterly payment (At the end of each quarter) (P) = $4500

Interest Rate (Quarterly) (r) = 6% /4

= 1.5% = 0.015

A number of quarters (n) = ?

Future value at the end = 0

Present value of Annuity formula:

Present value = P × $(1-(1+r))^{(-n)} / r$

250000 = 4500 × $(1-((1+0.015))^{(-n)} / 0.015$

250000 = 300000 × $(1-((1+0.015)}}^{(-n)}$

250000 / 300000 = $1-(1+0.015)^{(-n)}$

0.83333 = $1-(1.015)^{(-n)$

n = 120

Hence is shall take 120 Quarters until the account balance is $0.

To learn more about account balance

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3 0

1 year ago

Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.

murzikaleks [220]

Answer: $2.78

Explanation:

Average variable cost is calculated by dividing the total variable cost of producing a certain number of units of a good by that same number of units.

Average variable cost = Variable cost of producing 18 sneakers / 18

= 50 / 18

= 2.7778

= $2.78

7 0

3 years ago

Ben wants to purchase a new tablet. He spends a lot of time researching the latest features available on different brands of tab

Vladimir [108]

Answer:

motivated

Explanation:

to purchase the target, making him a (n) motivated consumer

5 0

3 years ago

Johnny’s Drive-in pays its employees bi-weekly. The first payday of 2014 will be on January 3 and will compensate employees for

Sonbull [250]

Answer:

Accounts

Wages Expense

Wages Payable

$100,000

Explanation:

As the expense is accrued but not paid at the end of 2013. The transaction requires an adjusting entry. This will charge a wages expense and create the wages payable liability. Ultimately on January 3 it will be paid. Wages for the two weeks are $100,000 and the 14 days has been passed for the pay period until year end of 2013.

5 0

3 years ago