To construct an income distribution table, the second step is to ____

An intangible asset with an estimated useful life of 30 years was acquired on January 1, 2007, for $540,000. On January 1, 2017,

algol [13]

Answer:

Amortization for the year 2017 is $12,000

Explanation:

Given:

Estimated Useful life = 30 years

Cost of Assets on January 1, 2007 = $540,000

Now,

The Amortization per year = $\frac{\textup{Cost of asset}}{\textup{Useful life}}$

or

The Amortization per year = $\frac{\textup{540,000}}{\textup{30}}$

or

The Amortization per year = $18,000

Thus,

Accumulated amortization on January 1, 2017

= Amortization per year 18000 × Number of years from 2007 to 2017

= $18,000 × 10

= $180,000

Therefore,

The Book Value of Asset on January 1, 2017 = $540,000 - $180,000

= $360,000

also,

The Revised useful life = 30 years

Therefore,

The Amortization per year = $\frac{\textup{Current book value of asset}}{\textup{Useful life}}$

or

The Amortization per year = $\frac{\textup{360,000}}{\textup{30}}$

or

The Amortization per year = $12,000

Hence,

Amortization for the year 2017 is $12,000

5 0

3 years ago

Explain what a tradeoff is and why they are a part of every financial decision you make, no matter how big or small it may be.

nevsk [136]

Dhdhxhdbnwosxi uncle e rah I he e do I Jensen e Dan one e d c j j hbd we so like you know it’s C cause basically and yeah

7 0

3 years ago

Cost Behavior Prepare income statement in two formats Farnsworth Drycleaners has capacity to clean up to 7,500 garments per mont

Lemur [1.5K]

Answer:

(1)

Fees revenues 42,600

Total expenses 1.92 x 4260 = 8179.2

Net income 34,420.8

(2)

Fees revenues 42,600

Variable cost 2,982

Contribution Margin 39,618

Fixed Cost 14,400

Net Income 25,218

Explanation:

(1)

We multiply by the garment cleaned

10 x 4,260 = 42,600

0.7 x 4,260 = 2982

and distribute the fixed cost among the normal capacity

14,400 / 7,500 = 1.92 fixed cost per garment cleaned

.7 + 1.92 = 2.62 cost per garment

(2)

We do not include the fixed cost in the unit cost, we subtact them completely as an expense.

8 0

4 years ago

A bookstore encourages customers to take their time browsing, offers them free muffins and coffee, and encourages them to sit do

Irina-Kira [14]

Answer:

b. Geographical proximity leads to persuasion.

Explanation:

Since in the question it is given that the a book store encourage the customers by providing free muffins and coffee, take the time for their browsing and motivates them to sit down and read a book

So this tactic shows the comfortably of the person that he or she could enjoy themselves, and have a great time and feeling safe . Many companies providing this type of service which results in gaining the trust of the customers

4 0

3 years ago

June does not like her new job as a web designer at a software company because she finds the work culture unfitting. Her female

Romashka [77]

Answer:

a hostile work environment

Explanation:

A hostile work environment is characterized by behaviors of some individuals that causes discomfort and intimidation in others. According to labor law, a hostile work environment may present situations of sexual and sexual harassment and abuse of authority, which consequently intimidates the victim and may lead to the development of mental problems such as depression and reduced productivity.

8 0

3 years ago

Read 2 more answers

To construct an income distribution table, the second step is to _____.