Which of the following statements about organic foods is true?

Privo Co. purchases a machine that cost $15,000. Privo estimates a 5-year life with no salvage value. The first three years of d

Ierofanga [76]

Answer:

Double-declining balance method

Explanation:

First we have to find the depreciation rate which is shown below:

= One ÷ useful life

= 1 ÷ 4

= 20%

Now the rate is double So, 40%

In year 1, the original cost is $15,000, so the depreciation is $6,000 after applying the 50% depreciation rate

And, in year 2, the depreciation is ($15,000 - $6,000) × 40% = $3,600

And, in year 3, the depreciation is ($15,000 - $6,000 - $3,600) × 40% = $2,160

6 0

3 years ago

Lin Wai's company, New Home Builders Corp., specializes in designing homes that have wide hallways and walk-in showers that coul

love history [14]

Answer:

strengths

Explanation:

A SWOT analysis includes strengths, weaknesses, opportunities and threats:

strengths: analyses what does your company do well and distinguish it from the competition.
weaknesses: analyses what are your company's weak spots and what does your competition do better than you.
opportunities: new situations that can favor your company.
threats: situations that can negatively affect your company.

8 0

3 years ago

How does the FDIC monitor banks?

Lynna [10]

FDIC monitor banks by analyzing Call Report data and examination findings relative to the emerging trends.

The FDIC monitor banks to ensure that they are operating within the bounds of the law and are not engaging in any illegal or unsafe practices. They also work to ensure that banks are providing customers with the best possible service and are protecting their deposits

If the FDIC finds that a bank is not meeting these standards, they will take action to correct the situation. As a result, the FDIC has a better understanding of the risks that banks face and is better equipped to protect consumers from financial fraud.

To know more about banks, click here.

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7 0

1 year ago

The 2008 balance sheet of Maria's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2009 balance sheet showed l

Svet_ta [14]

Answer:

net cash flow from creditors of $1.42 million

Explanation:

The movement in the long term debt account between 2008 and 2009 is as a result of the interest owed on the debt and the cash payment for the period.

Let the cash outflow to the creditor be H

$2.25 million + 0.33 million - H = $4 million

H = $2.25 million + 0.33 million - $4 million

H = ($1.42 million)

This means that the firm had a net cash flow from creditors of $1.42 million in 2019.

5 0

3 years ago

The following information pertains to Lee Corp.'s defined benefit pension plan for year 2:Service cost $160,000Actual and expect

serious [3.7K]

Answer:

$180,000

Explanation:

This can be calculated as follows:

Pension cost in year 2 = Service cost + Prior service cost amortization + Interest cost - Actual and expected return on plan assets

Therefore, we have:

Pension cost in year 2 = $160,000 + $5,000 + $50,000 - $35,000 = $180,000

Therefore, Lee report should $180,000 as pension cost in its year 2 income statement.

3 0

3 years ago