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erma4kov [3.2K]
3 years ago
5

g Mason Company paid its annual property taxes of $240,000 on February 15, 20X9. Mason also anticipates that its annual repairs

expense for 20X9 will be $1,200,000. This amount is usually incurred and paid in July and August when operations are shut down so that machinery and equipment can be repaired. What amount should Mason deduct for property taxes and repairs in each quarter for 20X9?
Business
1 answer:
scZoUnD [109]3 years ago
4 0

Answer:

$360,000

Explanation:

The total cost would be estimated as the expense anticipated plus the property taxes paid previously.

Now

Total Cost = $240,000 Property Taxes paid      +     $1,200,000 Property repairs anticipated

= $1,440,000

Now we will distribute the annual cost over the four quarters which mean we will divide the total annual cost by 4.

Quarterly Expenses = $1,440,000 / 4     = <u>$360,000</u>

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calculate the compund interest monthly for 12 months. the deposit is 5,000 and the annual percenatge rate is 5%
Ludmilka [50]

Answer:

255.81

Explanation:

We have the formula to calculate the monthly compound interest as following:

<em />A = P.(1+\frac{r}{n})^{nt} - P<em />

In which:

+) A: Amount of compound interest

+) P: Principle, the initial deposit

+) r: the percentage rate

+) n: the number of month (if monthly: n =12, quarterly => n = 3, etc.)

+) t: number of years

From that we have: P = 5,000; r = 5% = 0.05; n = 12 months and t = 1

So that the compound interest monthly for 1 year of 12 months is:

<em />A = 5000 . (1+\frac{0.05}{12})^{12.1} - 5000 = 255.81<em />

<em />

<em>So that the answer is 255.81</em>

6 0
3 years ago
Which of the following poses a workplace hazard that may cause accidents?
Sati [7]

Answer:

c. Poor housekeeping of office space

Explanation:

workplace hazards could be regarded as part of the work which could bring

health and safety risks to the workers, this are aspect of the work with potential to harm. In every business or organization there will always a potential harm even though it varies from one work place to another. Types of hazard in work place are biological, chemical, physical hazard and others.

Therefore, mong the options "only option c" poses a workplace hazard that may cause accidents

4 0
3 years ago
Sonesta Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $9,000. The net book va
AURORKA [14]

Answer:

D) positive cash flow of $21,900 from investing activities

Explanation:

To calculate Sonesta's cash flow associated to this transaction we can use the following formula:

cash flow = net book value of the asset - loss on sale of the asset

cash flow = $30,900 - $9,000 = $21,900

The cash flow was generated by an investing activity since Sonesta sold an asset, not its products.

6 0
3 years ago
What special asset does Heartland Telecom's acquisition of Surety Wireless​ identify? The acquisition identifies the asset goodw
brilliants [131]

Answer: 1. Goodwill

2. a. Record no entry in the books

b. Record a loss in the books

Explanation:

1. The Special asset created by Heartland Telecom's acquisition of Surety Wireless is Goodwill.

Goodwill is the difference between what the company was worth and what it was purchased for if the purchase price was higher than the worth (market value).

2. a. Goodwill should be accounted for by recoding it in the Long term Assets under Intangible Assets in the balance sheet. It should not be amotrized. If Goodwill increases, there should be no recording this <u>gain</u> on the books.

b. If the value of the asset has​ decreased, Heartland should record a loss in the books to represent the loss on this account.

5 0
4 years ago
Loss of the Gocha mangrove forests has caused coastal erosion, reducing fish populations and requiring the Gocha Fishing Coopera
BigorU [14]

Answer:

D. Mangrove forests tend to increase the commercial fish populations in coastal fishing grounds

Explanation:

From the scenario, we can see that

''Loss of the Gocha mangrove forests has caused coastal erosion, reducing fish populations and requiring the Gocha Fishing Cooperative (GFC) to partially fund dredging and new shore facilities.''

From the above extract of the scenario it is clear that loss of mangrove forests reduces fish population. If the foregoing is true, then reduction in fish population implies reduction in the revenue of the Gocha Fishing Cooperative. Secondly the loss of mangrove forests has not only led to loss of revenue due to less fish but also increase in cost by having to fund dredging

Therefore, based on the fact that loss of mangrove leads to loss of fish and by extension revenue, planting more trees will lead to more fish and more revenue, apart from the fact that the cost of dredging will not have to be incurred leading to greater revenue.

3 0
3 years ago
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