Answer:
Annual depreciation= $4,000
Explanation:
Giving the following information:
The cost of the machine was $29,000. Its estimated residual value was $9,000 at the end of estimated 5-year life.
<u>To calculate the depreciation expense, we need to use the following formula:</u>
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (29,000 - 9,000)/5
Annual depreciation= $4,000
Answer:
Blossom Corp.'s accounts receivable turnover ratio is 4.23 times
Days’ sales outstanding (DSO) of the company is 86.3 days
Explanation:
The accounts receivable turnover ratio is an efficiency ratio that measures how many times a company can collect its receivables or money owed by clients during the year.
Accounts receivable turnover ratio is calculated by following formula:
Accounts Receivable Turnover ratio = Net Credit Sales /Accounts Receivable = $5,546,000/$1,310,000 = 4.23 times
Days’ sales outstanding (DSO) = 365/Accounts receivable turnover ratio = 365/4.23 = 86.3 days
Answer:
The correct answer that fills the gaps are: Involved; knowledge.
Explanation:
A mercant is the person who is usually engaged in work that also helps in the economy. The owner of a business establishment is also named that way. In commercial law, the term merchant refers to its subject of subjective study, that is, to people who are subject to specific regulation by this branch of law. In this sense, people who, in a habitual way, are engaged in any of the activities that the law considers mercantile ("commercial acts") are merchants. Habituality constitutes an essential element of the definition: not every person who performs an occasional act of commerce (for example, who buys in a store) becomes a merchant, but is only considered a merchant from the perspective of Commercial Law who is dedicated to trade as usual.
Answer:
$4,908,000
Explanation:
The computation of accumulated depreciation expense for this purchase is shown below:-
Depreciation expense = ((Cost of machine - Salvage) ÷ Estimated useful life of machine)
= (($40,900,000 - $4,090,000) ÷ 15) × 2
= $36,810,000 ÷ 15 × 2
= $4,908,000
Therefore for computing the depreciation expense we simply applied the above formula.
The answer to this question is standardized<span> data values.
</span><span> standardized data values. refers to the set of rules in creating data that could be acknowledged anywhere in the world.
</span><span>Following standardized data values will help in knowledge development because it makes researchers around the world able to synchronize their research with one another.
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