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Slav-nsk [51]
4 years ago
6

Daily Enterprises is purchasing a $ 10.4 million machine. It will cost $ 55 comma 000 to transport and install the machine. The

machine has a depreciable life of five years and will have no salvage value. If Daily uses​ straight-line depreciation, what are the depreciation expenses associated with this​ machine
Business
1 answer:
Anna11 [10]4 years ago
4 0

Answer:

$2,091,000 per year

Explanation:

Data provided in the question;

Purchasing cost of the machine = $10.4 million

Transportation cost = $55,000

Salvage value = 0

Depreciable life = 5 years

Now,

Total cost of the machine involved

= Purchasing cost of the machine + Transportation cost

= $10.4 million + $55,000

= $10,400,000 + $55,000

= $10,455,000

thus,

using the straight line method of depreciation

Annual depreciation = \frac{\textup{Total cost - Salvage value}}{\textup{Useful life}}

Annual depreciation = \frac{\textup{$10,455,000 - 0}}{\textup{5}}

or

Annual depreciation = $2,091,000

Hence,

Depreciation expenses associated with this​ machine is $2,091,000 per year

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Kazeer [188]

Answer:

6:1

Explanation:

Net credit sales is $120,000

Account receivable is $20,000

Cash collection on credit sales is $100,000

.

Therefore the receivables turnover ratio can be calculated as follows

= 120,000/20,000

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Hence receivable turnover ratio is 6:1

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3 years ago
Us federal income tax is progressive by law, but which best explains why is it sometimes regressive in practice?
Solnce55 [7]
I believe the answer is: High-income earners use tax laws to their advantage to reduce their tax rates

High income earners tend to possess financial knowledge or ability to allow experts who understand the full scope of taxation laws and how to recorded the transactions in a way that make it eligible for tax deduction. This makes a lot of high income earners manage to avoid paying taxes even if they manage to obtain a lot of profit.
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3 years ago
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Imagine you have $30 to spend. You are thinking of buying new soccer shoes because yours
Nitella [24]

Answer:

video game

Explanation:

because I don't go outside, I'm a gamer

5 0
3 years ago
( By the way, this is a question related to financial accounting.) International Investment Group is looking to invest $95,000 i
matrenka [14]

Answer:

The correct option is;

The company's Financial Books

Explanation:

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8 0
4 years ago
Icy Mocha Company estimates its factory overhead costs to be $35,000 and machine hours to be 5,000 for the year. If the actual h
Vedmedyk [2.9K]

Answer:

$160 overapplied

Explanation:

Icy Mocha company estimates it's factory overhead costs to be $35,000 and machine hours to be 5,000 for a period of one year.

The actual number of hours worked on job 333 and 334 equals a total of 4,980

The actual factory overhead costs are $34,700

The first step is to calculate the predetermined overhead rate

= Overhead costs/machine hours

= $35,000/5,000

= $7

The amount of either over or underapplied factory costs can be calculated as follows

= predetermined overhead rate×actual number of hours worked

= $7×4,980

= $34,860

The amount is then subtracted from the actual overhead costs

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= -$160

= $160 overapplied

Hence the amount of overapplied factory overhead is $160

4 0
3 years ago
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