1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mashcka [7]
3 years ago
9

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:
Andrews [41]3 years ago
6 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.

You might be interested in
If a target was purchased for $1,500.0m with an equity contribution of $500.0m, what is the enterprise value of the target if it
posledela

Answer: a. $1,000.0m

Explanation:

Even though the company's enterprise value has no growth, the equity investment of the sponsor will rise from $500.0m when purchased to $1,000.0m when the target for the value of the enterprise is sold for $1500.0m.

The debt was $1000m at year 0 while the remaining $500m was for equity. It should be noted that at the fifth year, equity will be $1,000.0m while the debt will be $500m.

8 0
2 years ago
Key inputs to the verification process include?
Citrus2011 [14]

The purpose of verification, as a normal motion, is to become aware of the faults/defects introduced at the time of any transformation of inputs into outputs.

Verification is a pleasant manage technique that determines if a machine meets its gadget-stage necessities. Inspection and demonstration is the principle testing technique used in Verification.

The Verification procedure offers the evidence that the gadget or machine detail plays its meant capabilities and meets all performance requirements listed inside the machine overall performance specification and functional and allotted baselines.

Learn more about verification method here:brainly.com/question/14513832

#SPJ4

5 0
2 years ago
Consider a small country that is closed to trade, so its net exports are equal to zero. The following equations describe the eco
PtichkaEL [24]

Answer:

this is government alargar effect

5 0
3 years ago
A7X Corporation has ending inventory of $701,073 and cost of goods sold for the year just ended was $7,461,613. a. What is the i
tatyana61 [14]

Answer:

(A) Inventory turnover= 10.64 times

(B) Days sales in inventory= 34.30 says

(C) Shelf life= 34.30 days

Explanation:

A7X corporation has an ending inventory of $701,073

The cost of goods sold for the year is $7,461,613

(A) The inventory turn over can be calculated as follows

= cost of goods sold/ending inventory

= 7,461,613/701,073

= 10.64 times

(B) The day sales in inventory can be calculated as follows

= 365/inventory turnover

= 365/10.64

= 34.30 days

(C) A unit of inventory sit on the shelf for 34.30 days before it is sold

6 0
3 years ago
Which one of the following is not a primary component of an internal control system?
Bond [772]

The following is not a primary component of an internal control system <u>Control environment .</u>

<u />

The primary cause of inner controls is to assist safeguard an corporation and further its objectives. internal controls characteristic to limit risks and shield property, make certain accuracy of facts, sell operational efficiency, and inspire adherence to policies, rules, regulations, and legal guidelines.

Internal controls are techniques designed to help guard an enterprise and limit danger to its objectives. inner controls decrease risks and guard belongings, ensure accuracy of statistics, sell operational performance, and encourage adherence to policies, policies, policies, and laws.

Determining whether a specific internal manage machine is effective is a judgement because of an assessment of whether the five additives - manage surroundings, risk assessment, manage sports, information and communique, and tracking - are present and functioning.

Learn more about Internal controls here

brainly.com/question/26398073

#SPJ4

5 0
1 year ago
Other questions:
  • Viger Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard mac
    12·1 answer
  • Prepaid rent for one year on January 1, 2019, in the amount of $95,760. Record the adjustment on January 31, 2019. Purchased sup
    5·1 answer
  • Many employees get a reality shock on their first day at work because ____.
    5·1 answer
  • Stress, both good and bad, is a part of life.
    7·2 answers
  • A star basketball player signs a contract that newspaper reports indicate is worth​ $10 million. The player receives​ $2 million
    5·1 answer
  • Ingram Electric Products is considering a project that has the following cash flow and WACC data. What is the project's MIRR? No
    10·1 answer
  • A system that collects and stores the company's key data and produces the information needed by managers for analysis, control,
    8·1 answer
  • Which of the following describes mannerisms? Question 2 options: Style of speaking or behaving Dressing appropriately Values and
    10·1 answer
  • The Federal Reserve's Open Market Committee has decided that the federal funds rate should be 0.5 percent rather than the curren
    8·1 answer
  • When airlines charge higher prices for seats in the Economy section Exit rows that have more leg room, they are using which pric
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!