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max2010maxim [7]
3 years ago
14

On January 1, Noonan Company purchases equipment for $100,000. The equipment is expected to have a useful life of 5 years and wi

ll have no value at the end of that period. Noonan allocates the cost equally over the period of use so the depreciation expense that must be recognized for the year is:
Business
1 answer:
PtichkaEL [24]3 years ago
7 0

Answer:

$20,000

Explanation:

Since the cost is allocated equally, the depreciation expense on the purchased equipment will be calculated as:

                                                                 =  <u>Cost of equipment- Scrap value</u>

                                                                        Useful life

                                                                 =  <u>$100,000 - $0</u>

                                                                        5 years

                                                                = $20,000

Based on the above, the depreciation expense for the year that must be recognized by Noonan Company is $20,000.

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How would the issuance of common stock for cash affect the accounting​ equation?
shepuryov [24]

Answer:

Explanation:

The journal entry to record the given transaction is shown below:

Cash A/c Dr XXXXX

    To Common stock A/c XXXXX

(Being the issuance of the common stock is recorded)

The accounting equation is

Total Assets = Total liabilities + Stockholder equity

Cash Increased = No effect    + Increased

Therefore, the cash account and the common stock is increased.

3 0
3 years ago
Use the following data to determine the total amount of working capital.
Leokris [45]

Answer:

$353,800

Explanation:

Working Capital = Current Assets - Current Liabilities

where,

CA = $146000 +  $189000 + $155000 + $94800 = $584,800

CL = $206000 + $25000  = $231,000

therefore,

Working Capital = $584,800 - $231,000 = $353,800

6 0
3 years ago
If a business is not making a profit, the entrepreneur knows that ________. no one wants to buy the product/service he/she is no
igor_vitrenko [27]
<span>b. he/she is not making good use of scarce resources</span>
5 0
3 years ago
Indicate whether the following events might cause stocks in general to change price, and whether they might cause Big Widget Cor
-BARSIC- [3]

Answer:

Check the explanation below

Explanation:

Inflation is systematic (Market) risk, it impacts all stocks

Results of company is unsystematic (Specific) risk, as they are as expected stock price wont have much impact

Economic growth is systematic (Market) risk, as it is inline with forecasts stock prices will be constant

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Taxation is systematic (Market) risk, as it is discussed from 6 month, stock price wont have much impact currently

8 0
3 years ago
What is the totality of a firm's organizational arrangements, including its formal organizational structure, control systems, in
Rainbow [258]

Answer:

Organizational architecture.

Explanation:

The organizational architecture can be defined as the structure of the company, which includes all the integrated systems of the organization, that is, all the tangible and intangible assets that make up the organizational whole.

In order to operate effectively, every organization must have an organizational architecture that enables the correct flow of processes that will assist in achieving the objectives and goals.

To assess which type of organizational architecture is appropriate for a business, it is necessary to analyze the company's systems, culture and strategy.

3 0
3 years ago
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