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serg [7]
3 years ago
6

A diesel-powered tractor with a cost of $208,140 and an estimated residual value of $2,700 is expected to have a useful operatin

g life of 48,000 hours. During April, the tractor was operated 300 hours.
Determine the depreciation for the month.
Business
1 answer:
pychu [463]3 years ago
5 0

Answer:

$1,284

Explanation:

The computation of the depreciation expense is shown below

= (Cost of diesel-powered tractor - estimated residual value) ÷ (useful operating life)  

= ($208,140 - $2,700) ÷ ($48,000 hours)

= ($205,440) ÷ ($48,000 hours)  

= $4.28 per hour

Now for the month, it would be  

= Operated hours in a month × depreciation per hour

= 300 hours × $4.28

= $1,284

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An entity may decide not to sell a long-lived asset (disposal group) classified as held for sale. It should therefore re-classif
Setler [38]

Options:A. The disposal group will be measured at the lower of carrying amount or fair value at the date

of the decision not to sell.

B. The results of operations of a reclassified component of an entity will be reported

prospectively in continuing operations.

C. Depreciation on individual reclassified long-lived assets is reflected in their measurement.

D. Any assets removed from a disposal group that are to be sold must continue to be measured

as a group.

Answer:C. Depreciation on individual reclassified long-lived assets is reflected in their measurement.

Explanation:A disposal group is a collection of assets or liabilities of an organisation that has been classified as held for sale. The depreciation of these disposal group may not be considered or measured, they usually measured According to a lower of carrying amount and fair value less costs to sell. They are presented separately in the statement of financial position. As a result of reclassification of the disposal group,the Depreciation on individual reclassified long-lived assets is reflected in their measurement.

4 0
3 years ago
Susan can bake 200 cookies in an hour or watch her favorite tv show. If she chooses to watch her show, her opportunity cost is
Oksanka [162]

Answer:

200 cookies

Explanation:

The concept of opportunity cost arises as a result of the limited resources available to satisfy the unlimited human wants.

Opportunity cost is the cost or worth of the item forgone from the list of wants. Hence is is also called real cost or opportunity foregone.

The scale of preference ranks the wants in the order of preference.

If the resources available can only satisfy the first want, the second on the list is the opportunity cost.

As such, Susan's opportunity cost is the 200 cookies she failed to bake.

3 0
3 years ago
Azule Co. manufactures in two sequential processes, cutting and binding. The two departments report the information below for a
lys-0071 [83]

Answer:

Cutting $8,305

Binding $365

Explanation:

Calculation to Determine the ending balances in the Work in Process Inventory accounts of each department.

Cutting Ending work in process =$ 1,145+ 3,750+$ 9,240+$14,700-$20,530

Cutting Ending work in process =$8,305

Therefore the ending balances in the Work in Process Inventory accounts for cutting department will be $8,305

Binding Ending work in process= $2,200+$2,646+$3,450+$7,100+$18,575+$20,530-$49,000

Binding Ending work in process= $365

Therefore Therefore the ending balances in the Work in Process Inventory accounts for binding department will be $365

5 0
2 years ago
What are the implications of using criteria, such as baldrige, in assessing organizational culture needs? explain
KIM [24]

The implications of using criteria, such as baldrige, in assessing organizational culture needs to:

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-Energize the workforce by motivating.

-Focus whole organization on common goals

-Assess the performance against the competition

-Align resources with  some strategic objectives

Baldrige self-assessment helps organizations to assess whether they are developing and deploying a good, balanced and systematic approach for running the organization.

No matter the organization is large or small, and no matter your industry or sector, you can use the Baldrige  Criteria to conduct a self-assessment of the organization.

It provides the best way to evaluate how well your organization is meeting its goals and objectives. Organizations use it to evaluate their processes and their impact on results.

To know more about Baldrige criteria here:

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7 0
1 year ago
Assume the initial present value of the payments on a lease are equal to the cost of the leased asset. This capital lease is rec
Whitepunk [10]

Answer: D) present value of the remaining lease payments.

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When recording a capital lease in the balance sheet of the lessee, the amount recorded is the<em> lower amount </em>between the present value of the remaining lease payments or the cost of the leased asset.

As the <em>cost</em> of the leased asset is <em>equal</em> to the <em>initial</em> present value of the payments, the cost will therefore be higher than the current present value of the remaining payments so the appropriate amount to put in the balance sheet will be the current present value of the remaining lease payments.

4 0
3 years ago
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