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ratelena [41]
3 years ago
10

Machinery was purchased for $460000 on January 1, 2022. Freight charges amounted to $15000 and there was a cost of $34000 for bu

ilding a foundation and installing the machinery. It is estimated that the machinery will have a $65000 salvage value at the end of its 10-year useful life. What is the amount of accumulated depreciation at December 31, 2023 if the straight-line method of depreciation is used?
Business
1 answer:
guapka [62]3 years ago
4 0

Answer:

The amount of accumulated depreciation at December 31, 2023 = $88,800.

Explanation:

<u>Determining the actual acquisition cost.</u>

The actual acquisition cost = Purchase value + freight charges + Installation costs.

The actual acquisition cost = 460,000 + 15,000 + 34,000.

The actual acquisition cost = $509,000.

<u>Determining the depreciable cost.</u>

The depreciable cost = acquisition cost - Salvage value.

The depreciable cost = 509,000 - 65000.

The depreciable cost = $444,000.

<u>Determining annual depreciation expense.</u>

Annual depreciation expense = depreciable cost / number of years.

Annual depreciation expense = 444,000 / 10.

Annual depreciation expense = 44,400.

<u>Determining the accumulated depreciation .</u>

The accumulated depreciation = annual depreciation expense × number of years.

The accumulated depreciation = 44,400 × 2.

The amount of accumulated depreciation at December 31, 2023 = $88,800.

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Answer:

Local spaces open for public to help them with social activities. Parks, gyms, store, mall and clubs are some of local spaces which are open to everyone for gaining relaxation in their leisure time.

Explanation:

People are busy in weekdays and they need some place for relaxation on weekend. There are many places which provide with recreational activities for people to relax and spend their weekends with their family.

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3 years ago
The price elasticity of supply for umbrellas is 2. Suppose you're told that following a price increase, quantity supplied increa
salantis [7]

Answer:

15%

Explanation:

The formula and the calculation of the price elasticity of supply are presented below:

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So, the percentage change in price is

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3 years ago
Which of the following is a true statement?
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Answer: a) To estimate the before-tax cost of debt, we need to solve for YTM on the firm's existing debt.

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Explanation:

6 0
2 years ago
On the basis of this information, which of the following statements is CORRECT? a. Prestopino's cash on the balance sheet at the
mylen [45]

Answer:

b. Prestopino had negative net income in the current year

Explanation:

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• The company does not pay dividends.

• The company's depreciation expense is its only non-cash expense; it has no amortization charges.

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On the basis of this information, which of the following statements is CORRECT? Prestopino had negative net income in the current year

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3 years ago
In the video, Mike Boyle talks about establishing a work environment that motivates employees to do great work. List two or thre
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Answer:

Explanation:

the list of specific ways through which Mr. MB can establish the work environment which can motivate the employee in his gym are as follows;

Mr. MB can emphasize on the importance of creating effective work environment that motivate employees to work properly.

Mr. MB can develop strength program for employees.

Mr. MB can also introduce the proper sessions of new training technique and workout program for employees.

Education helps in the employee motivational and job enrichment in an effective way. It helps the employees by giving them opportunity to establish their skills. It also helps in enhancing their knowledge and progress through their position in the company. These knowledge and skills helps the employer gaining effective workforce. Education also provides some effective guideline that the employees or employer should follow.

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