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3 years ago

The calculation for annual depreciation using the units-of-output method is

1 answer:

8 0

The formula for annual depreciation by means of the units-of-production method is:

(depreciable cost / estimated output) x the actual yearly output

Under the units of production method, the quantity of depreciation indicted to expense differs in direct proportion to the amount of asset usage. Therefore, a business may charge more depreciation in times when there is more asset consumption and less depreciation in times when there is a smaller amount of usage. It is the most precise method for indicting depreciation as this method relate thoroughly to the wear and tear on assets. Though, it also needs that someone should track asset usage which means that its use is commonly restricted to more luxurious assets. It needs estimation of the total usage over the life of the asset in order to come up with the amount of depreciation to identify in separate accounting period.

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Question 19 A company just starting in business purchased three merchandise inventory items at the following prices. First purch

Lunna [17]

Answer:

Answer is A. USD 80/-

Explanation:

Using FIFO costing, we get:

<u>Gross Profit = Sales - Cost of Goods Sold </u>

COGS (Cost of Goods Sold) for two units,

COGS = First purchase + Second purchase

COGS = $70 + $80

COGS = $150

Sales = $230

<u>Calculating the Gross Profit: </u>

GP (Gross Profit) = Sales - Cost of Goods Sold

GP = $230 - $150

GP = $80

7 0

3 years ago

Read 2 more answers

A decrease in the price of eggs will result in

deff fn [24]

Well i guess there arent any options...but it wold most likely result in more people buying them but in a negative light paying people who get them less and the supplies they need to do so overall harder to get, but with more people buying a demand for it would be higher, and you can take what you want out of my answer i could go on for a while

3 0

2 years ago

The lower of cost or market basis of valuing inventories is an example of

Mkey [24]

Answer:

C. conservatism

Explanation:

The lower of cost or market basis of valuing inventories is an example of conservatism. This term refers to trying to anticipate possible future losses, instead of gains and making certain decisions in order to limit those losses. Which some decisions may include lowering costs and/or prices in order to sell more and cover those potential losses.

4 0

2 years ago

A sports team's owner is given a videotape of his star player physically striking his girlfriend in an elevator, causing her sev

Snowcat [4.5K]

Answer:

The answer is: D) Fire the player. The team may suffer financially at first, but if the public has faith in the organization, the team and the league will benefit in the long run. If the owner keeps the tape a secret and the public finds out about his actions, the team - and society - will suffer harm from the loss of public trust.

Explanation:

Akers firmly believed that ethics were fundamental to economic competitiveness. He argued that without ethical behavior, individuals, corporations and society as a whole couldn´t be economically competitive.

So in this case, he would have simply terminated the player´s contract without regarding any of the potential downsides for the team.

8 0

3 years ago

Amanda and jack are working on their taxes and need to determine which form to file. they had wages, interest, and dividends. in

NemiM [27]

I guess the correct answer is 1040.

Amanda and Jack are working on their taxes and need to determine which form to file. They had wages, interest, and dividends. In addition, they bought a house this past year and are thinking of itemizing their deductions.

They should use the form 1040.

5 0

3 years ago

Read 2 more answers