An example of negative peer pressure may include

On January 1, 2012, Knapp Corporation acquired machinery at a cost of $750,000. Knapp adopted the double-declining balance metho

Kobotan [32]

Answer:

B .) $54,857

Explanation:

Depreciation rate using double reducing balance method is calculated as 10% divided by the number of years of useful life; this is then multiplied by 2. The depreciation is then calculated as the depreciation rate X Net Book Value of the asset

The depreciation rate for the first year = 100%/10 * 2 = 20%

2012

The depreciation expense = 20% X $750,000 = $150,000

The net book value at the end of the year = $750,000 - $ 150,000 = $600,000

2013

The depreciation expense = 20% X $600,000 = $120,000

The net book value at the end of the year = $600,000 - $ 120,000 = $480,000

2014

The depreciation expense = 20% X $480,000 = $96,000

The net book value at the end of the year = $480,000 - $ 96,000 = $384,000

2015

At the beginning of 2015, the method was changed to straight line method. In line with the International Standards of Accounting on change in accounting estimates (ISA 8), this change would be applied progressively i.e the remaining net book value would be divided over the remaining no of useful life to arrive at the year depreciation

As at the beginning of 2015, 3 years have passed. The remaining no of useful life is 7 years and the NBV is $384,000 as seen in the computation of NBV at the end of 2014

Depreciation = $384,000/7 = $54,857

4 0

3 years ago

A company had service revenue of $257,000, rent expense of $10,700, utility expense of $4,200, salary expense of $19,200, deprec

Reil [10]

Answer:

Income summary has a $208,630 credit balance before being closed

Explanation:

The closing entries should be:

Dr Service revenue 257,000

Cr Income summary 257,000

Dr Income summary 48,370

Cr Rent expense 10,700

Cr Utility expense 4,200

Cr Salary expense 19,200

Cr Depreciation expense 9,700

Cr Advertising expense 4,570

Income summary

Debit Credit

18,370 257,000

208,630

In order to close income summary:

Dr Income summary 208,630

Cr Retained earnings 208,630

If you want to close dividends:

Dr Retained earnings 18,700

Cr Dividends 18,700

7 0

3 years ago

PB8.

kotegsom [21]

Answer:

Q1 Q2 Q3 Q4

labor hours 1,900 2,000 2,200 1,800

variable 5,700 6,000 6,600 5,400

fixed 31,500 31,500 31,500 31,500

total 37,200 37,500 38,100 36,900

Explanation:

materials 1

labor 1.25

maintenance 0.25

utilities 0.50

total variable 3

supervisor 17,000

maintenance 5,000

property taxes 6,000

depreciation 3,500

total fixed 31,500

We add up the variable cost per labor hour

Then, we add up the fixed cost and solve for the total budget for each quarter

NOTE: missing information attache

3 0

3 years ago

If your 60-year-old customer purchases a nonqualified variable annuity and withdraws some of her funds before the contract is an

Svetlanka [38]

Answer: Ordinary income tax on earnings exceeding basis.

Explanation:

From the question, we are informed that a 60-year-old customer purchases a nonqualified variable annuity and withdraws some of her funds before the contract is annuitized.

The consequences of this action is that Ordinary income tax on earnings exceeding basis. It should be note that the distributions from a nonqualified plan had to do with return on original investment and income from the investment. Since there's defer of the income, it'll be taxable as an ordinary income.

5 0

3 years ago

esearch on transformational and transactional leadership shows a. transactional leadership is more effective than transformation

Morgarella [4.7K]

Based on various study analyses, the research on transformational and transactional leadership shows that "transformational leaders create higher levels of commitment to organizational change efforts."

This is because transformational leaders are the type of leaders that encourage and motivate their followers to make effective changes.

On the other hand, transactional leaders are types of leaders that mainly promote changes that favor their self-interest.

Hence, in this case, it is concluded that the correct answer is option C. "transformational leaders create higher levels of commitment to organizational change efforts."

Learn more here: brainly.com/question/14352853

6 0

2 years ago