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Shalnov [3]
2 years ago
6

Foxx Corp.'s comparative balance sheet at December 31, 2018 and 2017 reported accumulated depreciation balances of $1,245,000 an

d $900,000, respectively. Property with a cost of $75,000 and a carrying amount of $57,000 was the only property sold in 2018. Depreciation charged to operations in 2018 was:
Business
1 answer:
never [62]2 years ago
4 0

Answer:

The multiple choices are as follows:

a. $327,000.

b. $345,000.

c. $363,000.

d. $402,000.

The correct option is B,$345,000

Explanation:

The depreciation charged to operations in the year 2018 is the increase in accumulated depreciation in 2018 compared to 2017 accumulated depreciation i.e the actual depreciation charge incurred in the year 2018 is addition to accumulated depreciation in 2018, which is computed thus:

2018 accumulated depreciation     $1,245,000

2017 accumulated depreciation     ($900,000)

increase in 2018                                $345,000

Hence the depreciation in 2018 is $345,000,which is charged in the income statement for 2018 in order to arrive at net income

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The annual depreciation costs at that facility will rise by 10% or $1,440,000.

<h3>Annual depreciation costs</h3>

Life of the equipment = 10 Years

Salvage value = 0

Annual Depreciation= (Cost of equipment - Estimated salvage value) / Estimated useful life

Annual Depreciation= ($14.4 million- 0) / 10

Annual Depreciation= $1,440,000

or

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Annual Depreciation= 10%

Inconclusion the annual depreciation costs at that facility will rise by 10% or $1,440,000.

Learn more about annual depreciation cost here:brainly.com/question/15872169

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2 years ago
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Answer:

Answer for the question:

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is given in the attachment.

Explanation:

7 0
3 years ago
Who sets the price in a monopolistic competition?
AnnyKZ [126]

Answer:

Producers

Explanation:

Monopolistic competition is a form of market competition where different producers produce goods that are largely different from each other and can not even been used as a perfect substitute for one another.

This gives each producer the opportunity  to decide its prices and output . Prices are always set higher than the marginal costs and the consumer surplus are less compared to a perfectly competitive market , making monopoly competition an imperfect market.

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It should be noted that The liquidity premium theory of the term structure states the following: the interest rate on a long-term bond will equal an average of short-term interest rates expected to occur over the life of the long-term bond plus a term premium that responds to supply and demand conditions for that bond.

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Answer:

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Explanation:

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2 years ago
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