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Gre4nikov [31]
3 years ago
8

Lucky started a new business last year. Since it was the first year of operation, the business purchased $10,000 in machinery an

d used the straight-line method for depreciation. Business is booming, so Lucky purchased $15,000 in equipment during the current year to help meet production demands. Which of the following statements is true regarding the depreciation choices available to Lucky? The new machinery can be depreciated under the same method or a different method than the previously purchased machinery T/F
Business
1 answer:
gulaghasi [49]3 years ago
4 0

Answer:

True

Explanation:

The reason is that the Internation Financial Reporting Framework says that though there are choices the company must opt to the depreciation method that brings fairness to the financial statement, which means that the method used calculates the depreciation for the year that actually represents the decrease in the value of the assets in market value. So if the current method brings the fairness to the Financial statements, Lucky can use them and if those don't bring fairness to the financial statements then its better to use alternative which will bring the fairness to financial statements.

You might be interested in
An investment property with 10 residential units rents for $2,000 per unit per month. The rate of vacancy and collection loss is
irinina [24]

Answer:

$1,815,000

Explanation:

First we must determine the gross income = $2,000 x 10 units x 12 months = $240,000

minus the vacancy rate = $240,000 x 5% = $12,000

minus the annual expense = $10,200

net income = $240,000 - $12,000 - $10,200 = $217,800

to calculate the maximum amount that the investor should pay we must divide the net income by the expected rate of return = $217,800 / 12% = $1,815,000

When you are calculating a project's price (buying this asset is an investment project), depreciation and debt service are not included in the calculations.  

5 0
2 years ago
Suppose during 2017 that Federal Express reported the following information (in millions): net sales of $34,450 and net income o
Ronch [10]

Answer:

The asset turnover is 1.44 and return on assets is 0.37%

Explanation:

Average Total assets    

Assets in the beginning $24,590  

Assets at the end          $23,300  

Average assets          $23945

Sales                   $34,450  

Divide: Average assets        $23945  

Assets turnover ratio  1.44

Net Income                   $89

Divide: Average assets          $23945  

Return on assets           0.37%

Therefore, The asset turnover is 1.44 and return on assets is 0.37%

3 0
3 years ago
When the Coffee Collective purchases advertisements on the radio announcing its new patio and encouraging dog-loving coffee drin
Ilia_Sergeevich [38]

Answer: Pioneering advertising

                                 

Explanation: Pioneering advertising refers to the advertising of  a product or service, the concept of which is fresh and none of such products had been to any market before. This kind of advertising is done for establishing a new market.

In the given case, the company wants to aware the dog lovers to know about the patio which is a new concept to the world.

Hence the correct option is E.

6 0
3 years ago
Bob is a summer intern in an office. His boss asks him to organize a storage room filled with old contracts that must be held fo
Nutka1998 [239]

Answer:

The correct answer is (d) email.

Explanation:

Email is a form of written communication between people through digital tools. Also called email or e-mail (for its meaning in English electronic mail), it is one of the most popular means of digital communication and can be used by anyone who has access to the internet.

In this case, Bob must use a means of communication that ensures that he will not interrupt his boss's meeting. In addition, it is practical because an immediate response can be given without having to pass authority filters.

4 0
3 years ago
Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to?
WARRIOR [948]

Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to promote workforce diversity.

What is workforce diversity?

Workforce diversity means  having a workforce that comprises of people of diverse backgrounds, cultures, genders, orientations, races, perspectives and shared values.

In a bid to give a greater sense of belonging to the women folks(the same it has always be given to men folks), a firm may decide that it needs to source certain inputs or resources or materials from a small, women operated businesses, which in turn promote the corporate image, brand awareness and also functioning as a way of the firm giving back to the society or leaving positive impact on its host community.

Overall, such kind gesture would reflect on the financials of the company sooner or later by a way of increasing sales revenue and consequently, increase profitability

Find out more about corporate social responsibility on:brainly.com/question/13334545

#SPJ1

5 0
1 year ago
Read 2 more answers
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