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LekaFEV [45]
2 years ago
9

Wizard Co. purchased two machines for $250,000 each on January 2, 2005. The machines were put into use immediately. Machine A ha

s a useful life of 5 years and can only be used in one research project. Machine B will be used for 2 years on a research and development project and then used by the production division for an additional 8 years. Wizard uses the straight-line method of depreciation. What amount should Wizard include in 2005 research and development expense?
Business
1 answer:
faltersainse [42]2 years ago
4 0

Answer:

75,000

Explanation:

The straight-linedepreciation is calculate by dividing the acquisition value over the useful life

Machine A useful life is for 5 years

250,000 / 5 years = 50,000 per year

Machine B useful life is:

2 years in development project and then 8 years in a production division

total useful life for 10 years

250,000/ 10 years = 25,000

<u>Total development expense: </u>

machine A depreciation 50,000  + machine B depreciation 25,000 = 75,000

development expense 75,000

      acc depreciation machine A   50,000

      acc depreciation machine B   25,000

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The fixed costs of doing business include
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Fixed costs are the costs associated with your business's products or services that must be paid regardless of the volume you sell. ... Insurance - the liability insurance you hold on your business. Rent - the rent you pay on your office, factory, and storage space. Utilities - electricity, water, and other utilities.

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2 years ago
Nolte Co. has 4,800,000 shares of common stock outstanding on December 31, 2017. An additional 200,000 shares are issued on Apri
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5 0
3 years ago
Ted failed to disaffirm a contract during his minority or within a reasonable time after reaching majority. The contract was aut
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Additional Information: Net income for 2020 was $26,890. Land was sold for cash at a loss of $2,000. Cash dividends were paid du
slega [8]

Answer:

The question is wrong ,find attached correct question:

The correct option in the attached is $58290 ,option E,which is missing in the original question

Explanation:

Cash flow from operating activities=net income+depreciation charge-increase in accounts receivable+decrease in inventory+decrease in prepaid expenses-decrease in accounts payable+loss on sale of land-gain on sale of equipment

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Download xlsx
5 0
3 years ago
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