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Santayana Company purchased a machine on January 1, 2011, for $20,000 with an estimated salvage value of $5,000 and an estimated

Aliun [14]

Answer:

$1,125

Explanation:

Given that,

Cost of machine = $20,000

Estimated salvage value = $5,000

Estimated useful life = 8 years

Depreciation refers to the reduction in the value of the fixed assets of a particular company with the passage of time.

Here, we are using the straight line method,

Annual depreciation is as follows:

= (Cost of machine - Salvage value) ÷ Estimated useful years

= ($20,000 - $5,000) ÷ 8

= $1,875

Depreciation amount for the year 2011 = $1,875

Depreciation amount for the year 2012 = $1,875

Therefore, the book value of the machine at the beginning of January 1, 2013 is as follows:

= Cost of machine - Depreciation amount for the year 2011 - Depreciation amount for the year 2012

= $20,000 - $1,875 - $1,875

= $16,250

Now, the Santayana decides the machine will last 12 years from the date of purchase and we have already deduct the depreciation for the 2 years. So, we need to consider only 10 years for calculating the new annual depreciation.

Salvage value remains the same.

New annual depreciation:

= (Book value at the beginning of 2013 - Salvage value) ÷ Useful life

= ($16,250 - $5,000) ÷ 10

= $11,250 ÷ 10

= $1,125

8 0

3 years ago

Lyle’s manager just handed him a list of goals for the year. Because Lyle had no say in setting these goals, he isn’t sure that

abruzzese [7]

Answer: Goal acceptance

Explanation:

Most times in organizations, it is the people in leadership positions who set and manage goals for the employees and it is rare for staff to be part of the goal setting process,

Such employees are sometimes not sure of what to do and how to achieve the goals. Such employees are not in charge of their own responsibilities. Employee goal acceptance is when employees are just part of the process when making decisions even though the goals are set by the management.

6 0

3 years ago

Read 2 more answers

The outstanding capital stock of Novak Corporation consists of 1,800 shares of $100 par value, 7% preferred, and 5,100 shares of

Alborosie

Solution :

Preferred Common

Non cumulative and non Participative 12,600 67,400

Cumulative and non participative 37800 42200

Cumulative and participative 47876 32124

<u> Current Stock Out Standing </u>

Common stock at the rate 50 5100 shares 255000

Preferred stock 7% at the rate 100 1800 shares 180000

<u> Cumulative the annual dividend on the preferred stock </u>

Preferred stock dividend (180000 x 7%) 12600

Dividend Arrears to preferred stock (12600 x 2) 25200

<u> Non cumulative and non participative </u>

Preferred Common Total

Current year 12600 12600

Arrears 0 0

Common stock 67400 67400

Total dividend 12600 67400 80000

<u> Cumulative and non participative </u>

Preferred Common Total

Current year 12600 12600

Arrears 25200 25200

Common stock 42200 42200

Total dividend 37800 42200 80000

<u> Cumulative and participative</u>

Preferred Common Total

Current year 12600 12600

Arrears 25200 25200

Common stock (255000 x 7%) 17850 17850

Balance dividend pro data 10076 14274 24350

Total dividend 47876 32124 80000

Working notes :

Amount for the participation = 80000-(12600+25200+17850) = 24350

Rate of participation = $\frac{24350}{(255000+180000)}$ = 5.5977%

Participating dividend:

Preferred stock = 18000 x 5.5977% = 10076

Common stock = 255000 x 5.5977% = 14274

Total participating dividend = 24350

7 0

3 years ago

Jamie’s Bakery, a small chain of eight bakeries in Altamonte Springs, Florida has recorded sales growth of 30 percent or more pe

pantera1 [17]

<h3>Answer:</h3>

Gazelle

<h3>Explanation:</h3>

Jamie's Bakery has recorded a growth of 30% and above from 2010 to 2017 with revenues of $229,000.
This makes Jamie's bakery a gazelle company or business due to the growth of 30% in sales per year for a period of more than four years since it was started in 2010.
Gazelle ventures or business are fast growing and expands at a high rate and thus important to an economy.

6 0

3 years ago

In the context of a production process such as a manufacturing plant, what is the technique used to identify all of the value-ad

andre [41]

Answer: Value stream mapping

Explanation:

Value stream map is a visual representation of the steps that were taken in a process from the start of the process till the moment it gets to the customer.

The technique is used in the identificstion of all of the value-adding as well as non-value-adding processes that materials are subjected to within a plant, from raw material coming into the plant through delivery to the customer.

6 0

3 years ago