Answer: $618,096
Explanation:
Accumulated depreciation after 5 years = 20% + 32% + 19.2% + 11.52
= 82.72%
Value after 4 years = 3,300,000 * ( 1 - 82.72%)
= $570,240
Gain on sale = Salvage value - Net book value
= 650,000 - 570,240
= $79,760
Aftertax salvage value = 650,000 - (Gain on sale * tax)
= 650,000 - (79,760 * 40%)
= $618,096
Answer:
False.
Explanation:
Accounting systems that use standards for product costs are standard cost systems.
In Financial accounting, various business firms or companies use the standard cost systems to determine the variances or differences between the actual (real) cost of goods produced and the estimated cost for the goods that were produced by the company.
Hence, standard cost systems are used by business firms or companies as a strategic tool or technique for the management and control of costs, budget planning, and analyzing cost management performance at a specific period of time.
Answer:
who can immediately take over the family business.
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
For a student who chooses to go to college, his opportunity cost is the opportunity of running the family business he forgoed when he decided to go to college.
I hope my answer helps you
Answer:
Please refer to the below for Journal entries
Explanation:
The journal entries are seen below
1. Cash A/c Dr $58,523
Discount on bond payable A/c Cr $4,477
To bonds payable A/c Cr $63,000
(Being the issuance of bond that is recorded)
2. Interest expense A/c Dr $2,048
To discount payable A/c Cr $158
To cash A/c Cr $1,890
(Being the first interest payment that is recorded)
Note:
Interest expense
= $58,523 × 7% × 6 months ÷ 12
= $2,048
Cash
= $63,000 × 6% × 6 months ÷ 12
= $1,890
