The Presidential Cabinet consists of ____

A company purchased a plant asset for $53,000. It has a salvage value of $3,000 and annual depreciation expense of $5,000. It ca

marshall27 [118]

Answer:

The remaining useful life of the asset is = 10 - 3 = 7 years

Explanation:

The straight line method of depreciation charges a constant depreciation expense through out the useful life of the asset. The formula for depreciation expense under this method is,

Depreciation expense = (Cost - Salvage value) / Estimated useful life of the asset

Plugging in the values for depreciation expense per year, cost and salvage value, we can calculate the total expected life of the asset.

5000 = (53000 - 3000) / estimated useful life of the asset

estimated useful life of the asset = 50000 / 5000

estimated useful life of the asset = 10 years

As the accumulated depreciation balance is of 15000, the depreciation for 15000/5000 = 3years has been charged.

The remaining useful life of the asset is = 10 - 3 = 7 years

3 0

2 years ago

Strategic mgmt the two best reasons for investing company resources in vertical integration (either forward or backward are to

LenKa [72]

add materially to a company's technological capabilities, strengthen the company's competitive position, and/or boost its profitability.

6 0

3 years ago

For each of the following cash activities, choose the appropriate letter to match the activity with the internal control princip

Helen [10]

Answer:

A. Restrict access

C. Establish responsibility

D. Document procedures

B. Independently verify

Explanation:

A. Restrict access, as the password is set to address the cash register, that is a security is being provided, and this is because, there is a restricted access, for the safety purpose.

C. Establish responsibility - As the treasurer is held liable of making and receiving any checks, and that he is the person who shall monitor such things, related to transactions in checks.

D. Document procedures - since a list is prepared for the checks received in mail, it is mere preparation of records and documentation of what checks are received and what not.

B. Independently verify - Bank Reconciliation Statement is prepared to verify the transactions and match the balance in books with that of the bank pass book.

6 0

2 years ago

LIST THE 7 MOST GORGEOUS RUSSIAN SUPERMODELS.

kvv77 [185]

Dude, you've got your priorities all sorted out ahahah

7 0

2 years ago

Read 2 more answers

Mazeppa Corporation sells relays at a selling price of $28 per unit. The company's cost per unit, based on full capacity of 160,

ella [17]

Answer:

a. $20.00

b. $28,75

Explanation:

Find the total incremental costs to satisfy the special order and add $2.00 profit (because we are aiming for a profit not to just break-even).

Calculation of Total Incremental Unit Costs

Direct materials $6 .00

Direct labor $4.00

Variable Overheads (2/3 × $9) $6.00

Shipping Cost $2.00

Total Incremental Unit Cost $18.00

Add Profit Element $2.00

Unit Selling Price for the Special Order $20.00

In this case no changes will occur on fixed overheads, hence it is irrelevant.

Calculation of Desired Net Operating Income

Sales ($28 × 160,000 units) $4,480,000

Less Product Costs :

Direct materials ($6 .00 × 160,000 units) ($960,000)

Direct labor ($4.00 × 160,000 units) ($640,000)

Variable Overheads ($6.00 × 160,000 units) ($960,000)

Fixed Overheads ($3.00 × 160,000 units) ($480,000)

Current Operating Income $1,440,000

Add Desired Increase in Operating Income $60,000

Desired Operating Income $1,500,000

Unit Profit = $1,500,000 ÷ 160,000 units

= $9.375

Unit Profit = Unit Selling Price - Total Unit Costs - Unit Incremental Profit

therefore,

Unit Selling Price = Unit Profit + Total Unit Costs + Unit Incremental Profit

= $9.375 + $19.00 + $0.375

= $28,75

5 0

3 years ago

The Presidential Cabinet consists of _____.