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ipn [44]
3 years ago
13

On January 2, 20X5, Lem Corp. bought machinery under a contract that required a down payment of $10,000, plus twenty-four monthl

y payments of $5,000 each, for total cash payments of $130,000. The cash equivalent price of the machinery was $110,000. The machinery has an estimated useful life of ten years and estimated salvage value of $5,000. Lem uses straight-line depreciation. In its 20X5 income statement, what amount should Lem report as depreciation for this machinery
Business
1 answer:
Jlenok [28]3 years ago
7 0

Answer:

$10,500 per year

Explanation:

The computation of depreciation under SLM is shown below:-

Depreciation under Straight line method = (cash equivalent price of the machinery - Estimated salvage value) ÷ Useful life

= ($110,000 - $5,000) ÷ 10  years

= $10,500 per year

Therefore for computing the depreciation under straight line method we simply applied the above formula.

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QS 4-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700
kogti [31]

Answer:

Maybe is you payed attention you would have knew the answer

Explanation:

Good luck :))

4 0
3 years ago
A restaurant at a popular Colorado casino provides priority service to player’s card holders. The restaurant has 10 tables or bo
Alekssandra [29.7K]

Answer: Option A -- Approx. 55 seconds

Explanation:

It should be noted that, after proper calculations, the average time that parties WITHOUT player’s cards wait to be seated is Approximate 55 seconds. Therefore, Approx. 40minutes, 2hours and 24 seconds are wrong.

5 0
3 years ago
Alpha Co. is paying a $.64 per share dividend today. There are 158,000 shares outstanding with a par value of $1 per share. As a
muminat

Answer:

Dividend paid = $0.64 x 158,000 = $101,120. The dividend paid reduces retained earnings by $101,120.

The correct answer is C

Explanation:

Dividend is paid out of profit after tax. This reduces the retained earnings of the company since dividend involves outflow of cash.

3 0
3 years ago
"A tariff differs from a quota in that a tariff is: Select one: a. levied on imports, whereas a quota is imposed on exports. b.
grigory [225]

Answer: tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported. (D)

Explanation:

Protectionism is the act of protecting local firms from foreign competition. It helps in the growth of infant industries and can also be used to prevent dumping in a country. Some forms of protectionism used are tariffs, quotas etc.

A tariff is a tax imposed on imports. When a tariff is imposed on imports, it leads to an increase in the price of the good as it is an additional cost to the producer. A quota is a limit to the number of goods that can be brought into a country.

5 0
4 years ago
Carolina has $5,000 saved up from working at different jobs. She puts her money in a savings account that pays 4 percent a year
kolezko [41]
The first year would be $5200.
Find 4℅ of $5000 and add it to the 5000
Next year $5208.
same 4% of 5200 now then add it to 5200

OR
get the formula for compound interest work it out.
7 0
4 years ago
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