Answer:
Annual depreciation= $5,000
Explanation:
Giving the following information:
Purchasing price= $33,000
Salvage value= $3,000
Useful life= 6 years
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (33,000 - 3,000)/6
Annual depreciation= $5,000
Answer:
B. The selling price of the product and the consideration promised in the contract differ significantly.
Explanation:
"While determining the transaction price, an entity shall adjust the amount of consideration with respect to the time value of money, if the timing of payment to be made by customer under the contract provides some significant benefit of financing to the customer or the entity for the transfer of goods or services to the customer. The Significant financing benefit could be explicit or implicit in the contract.
The idea behind the significant financing component is that entity should consider the revenue based on the price that a customer would have paid at the time of transferring the goods or services to the customer by the entity i.e. Cash Selling Price (If the payment was made immediately)."
Reference: Prasenjit. “ASC 606: Step 3 – Determining the Transaction Price.” RevGurus, 25 Mar. 2019
Answer:
The resulting UCL value for the line is 0.07. The right answer is d
Explanation:
According to the given data we have the following:
P-bar = Fraction defective = 0.05
Sp = Standard deviation = 0.01
In order to calculate the resulting UCL value for the line we have to use the following formula:
UCL = P-bar + (Z x Sp)
Using standard normal table, for 95% confidence level Z=1.96
Therefore, UCL = 0.05
+(1.96x0.01)=
UCL = 0.0696, Hence UCL=0.07
The resulting UCL value for the line is 0.07
Answer:
1) In general, is it a good idea to make only minimum payments on your credit cards?
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No, the small payment requirement is mathematically guaranteed to keep you in debt for many years.
All you have to do is analyze the interest rates charged by the credit card companies and it is really difficult for any investment to match those interest rates.
2) Assuming you have $1,500 in your budget this month with which to pay down your credit cards, how much should you pay on each card?
I would start with the cards that charge the highest interest rates. I would pay the full balance of the department store card and the gasoline card = $600 + $300 = $900
Since I have $600 left, I would then pay the minimum payments for the cards that charge the least interest rates. I would pay $40 to Discover card and $60 to VISA.
The remaining $500 would be used to pay MasterCard 1 card and lower its balance.
Answer: Option C
Explanation: In simple words, inside directors refers to the individuals who holds significant position or stake in the company along with the position in the broad of directors committee.
These individuals are appointed by the shareholders and are obligated to represent truther point of view and act in their best interest. They are of high power in the company as they have significant potion in the management as well along wight the privileges of the board of director.
Hence the correct option is C.
