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SIZIF [17.4K]
2 years ago
13

The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date July 1, Year 1 Purchas

e price $85,000 Salvage value $10,000 Useful life 10 years Depreciation method straight-line The asset's book value is $70,000 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $5,000 rather than the original estimate of $10,000. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:
Business
1 answer:
Volgvan2 years ago
8 0

Answer:

depreciation expense 4,062.5 debit

  accumulated depreciation     4,062.5 credit

Explanation:

We will do the depreciation without doing retrospective adjustement as this is new information not an accounting mistake.

book value: 70,000

change in salvage value: 5,000

depreciable ammount : book value - new salvage value:

70,000 - 5000 = 65,000 depreciable amount

useful life: 8 years

65,000 / 8 = 8.125‬

half-year depreication: 8,125 / 2 = 4,062.5

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You are thinking of investing in Wave Runnerz, Inc. You have only the following information on the firm at year-end 2013: net in
tatuchka [14]

Answer:

8.28%

Explanation:

Given that,

Net income = $10 million

Total debt = $65 million

Debt ratio = 35 percent

Debt ratio = Total debt ÷ Total assets

35 percent = $65 million ÷ Total assets

Total assets = $65 million ÷ 35 percent

                     = $185,714,286

Wave Runnerz's ROE for 2018:

= Net income ÷ Equity

= $10,000,000 ÷ (Total assets - Debt)

= $10,000,000 ÷ ($185,714,286 - $65,000,000)

=  $10,000,000 ÷ $120,714,286

= 0.0828 or 8.28%

6 0
2 years ago
A client who has been training at high intensities in preparation for a triathlon reports joint pain, excess fatigue, and the in
Evgen [1.6K]

Answer:

The client is in the exhaustion stage of the general adaptation syndrome.

Explanation:

The 3 stages of the General Adaptation Syndrome are Alarm reaction, Resistance and Exhaustion.

The characteristic properties of each of the stage are different: For example

  • The person experiences, either higher rate of stress or adrenaline rush through the body in the 1st stage.
  • The person experiences frustration and anxiety in the second stage which is the Resistance stage.
  • While there is excessive fatigue in the 3rd stage which is exhaustion.

As the client is showing the symptoms of fatigue, thus this is the 3rd stage, i.e. exhaustion stage of GAS.

3 0
3 years ago
Which is NOT an indicator of a country's economic health? A. GDP B. standard of living
EleoNora [17]
D inflation duhhh because ik my social studies♥️
7 0
3 years ago
Read 2 more answers
You find the following Treasury bond quotes. To calculate the number of years until maturity, assume that it is currently May 20
Zarrin [17]

Answer:

$1,247.12

Explanation:

For computing the asked price we need to apply the present value formula i.e to be shown in the attachment below

Given that,  

Future value = $1,000

Rate of interest = 4.151% ÷ 2 = 2.076%

NPER = 17 years  × 2 = 34 years

The 20 years come from May 2019 to May 2036

PMT = $1,000 × 6.193% ÷ 2 = $30.965

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after applying the above formula, the present value or the ask price is $1,247.12

8 0
3 years ago
Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set
Margaret [11]

Answer:

The total amount of interest paid on all three loans is 8,748.

Explanation:

Each person has borrowed 5,000 for the same period and with the same interest rate. However, the repayment is made differently by each person.

We calculate the interest paid by each person, and then sum up the three interest payments.

Seth pays = [5000 x (1 + 0.12/2)^10] - 5000 = 3,954

Janice pays = 5,000 X 0.06 x 10 = 3,000

Lori pays = [(5,000 x 10) / 7.36] - 5,000 = 1,794

Total interest payment = 3,954 + 3,000 + 1,794 = 8,748  

3 0
3 years ago
Read 2 more answers
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