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stiv31 [10]
2 years ago
10

Schager Company purchased a computer system at a cost of $60,000 on 1/1/2019. The estimated useful life is 8 years, and the esti

mated residual value is $5,000. Assuming the company will use the double-declining-balance method, what is the depreciation expense for the second year (2020)
Business
1 answer:
MaRussiya [10]2 years ago
3 0

Answer:

$11,250

Explanation:

The computation of depreciation expense for the second year is given below:-

Double declining rate = 1 ÷ 8 × 2

= 25%

Here, for computing the depreciation for 2nd year we need to first calculate the 1st year of depreciation.

Depreciation for the 1st year = Purchase cost × Double declining rate

= $60,000 × 25%

= $15,000

Depreciation for the 2nd year = (Purchase cost - Depreciation for the 1st year) × Double declining rate

= ($60,000 - $15,000) × 25%

= $45,000 × 25%

= $11,250

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Younger Company has outstanding both common stock and nonparticipating, non-cumulative preferred stock. The liquidation value of
Zigmanuir [339]

Answer:

Option B                                                

Explanation:

In simple words, A stock dividend refers to the payout to owners that is rendered not in cash but in securities. Such kind of  dividend payment has the benefit of satisfying stakeholders without decreasing the cash flow for the business. Usually, these dividends are decided to make as fragments paid out per existing securities in hand.

Whenever dividend is paid in stock is paid, the overall asset interest stays the very same on both the viewpoint of the lender and the viewpoint of the business. Both dividend payments therefore include a newspaper submission for the distribution issuing firm.

3 0
2 years ago
Mary signed up and paid $600 for a 6 month ceramics course on June 1st with Choplet Ceramics. As of August 1st, Choplet’s accoun
inessss [21]

Answer:

$200 of revenue, $400 of deferred revenue

Explanation:

The journal entry to record the entry on August 1 is shown below:

Unearned revenue A/c Dr $200

         To Revenue $200

(Being the two-month revenue is recorded)

The computation is shown below:

= Six-month revenue × number of months ÷ total number of months

= $600 × 2 months ÷ 6 months  

= $200

The two months is calculated from June 1 to August 1  

The remaining balance would be transferred to the deferred revenue account

= $600 - $200

= $400

4 0
3 years ago
As a business owner, how do you allocate your resources properly?
Afina-wow [57]

Answer:

i dont know, but what i do know is that i miss you. Im sorry and i've said it a million times and i've gotten to the point, that i dont think you love me anymore, i know it hurt, im sorry, but i will never do something like that again, ever. im sorry Jose, please talk to me. I LOVE YOU. I havent ever loved anyone as much as i love you. You give me butterflys 24/7 no matter what we're talking about. It's killing me right now knowing that you're hurting and i can't do anything about it. Please Jose come back to me.

Explanation:

6 0
2 years ago
At a large department store, the number of years of employment for a cashier is a normally distributed variable with a mean of 5
Yakvenalex [24]

Answer:

0.0084

Explanation:

For this probability problem, we will have to make use of the normal probability distribution table.

to use the table, we will have to compute a certain value

z = (x- mean) /Standard deviation

z = \frac{(10 - 5.7)}{1.8} = 2.39

Probability he has worked in the store for over 10 years can be obtained by taking the z value of 2.39 to the normal probability distribution table to read off the values.

<em>To do this, on the  "z" column, we scan down the value 2.3. we then trace that row until we reach the value under the ".09" column. </em>

This gives us 0.99916

Thus we have P (Z < 2.39) = 0.9916

We subtract the value obtained from the table from 1 to get the probability required.

1 - 0.9916 = 0.0084

The Probability that the employee has worked at the store for over 10 years = 0.0084

4 0
3 years ago
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway p
Delicious77 [7]

Answer:

DR Interest receivable                                  26,400

CR Interest revenue                                                       26,400

Explanation:

As first lease has already been paid, the amount left of the lease is;

= 280,000 - 40,000

=$240,000

Interest is 11% so the interest to be received in December is;

= 11% * 240,000

= $‭26,400‬

This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.

6 0
3 years ago
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