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Olenka [21]
4 years ago
7

Ellen's Antiques reported the following in its December 31, 2021, balance sheet: Equipment $ 4,000,000 Accumulated depreciation—

equipment $ 3,150,000 In a disclosure note, Ellen's indicates that it uses straight-line depreciation over eight years and estimates salvage value at 10% of cost.
Required: Compute the average age of Ellen's equipment at 12/31/2020.
Business
1 answer:
Shalnov [3]4 years ago
8 0

Answer:7 years

Explanation:

Depreciation per annum

Cost- salvage value/ no of years

$4,000,000-400,000/8

= $450,000

Accumulated depreciation= depreciation per annum * no of year

Therefore no of years

= Cross multiply

Accumulated depreciation/ depreciation per annum

=$ 3,150,000/$450,000

= 7 years.

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Bressette Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.20 Direct labor
Ugo [173]

Answer:

$65,750

Explanation:

Given:

Direct materials = $6.20

Direct labor = $3.70

Variable manufacturing overhead = $1.25

Fixed manufacturing overhead = $10,000

Sales commissions = $1.50

Variable administrative expense = $0.50

Fixed selling and administrative expense = $5,000

Number of unit Produced = 5,000 units

Calculation:

Production Cost = Direct Material cost + Direct labor cost + variable manufacturing overhead + Fixed manufacturing overheads.

= (5000 x $6.20) + (5000 x $3.70) + (5000 x $1.25) + $10,000

= ($31,000) + ($18,500) + ($6,250) + $10,000

= $65,750

8 0
3 years ago
Starbucks is opening a location in China every 15 hours, and just opened its largest location in the world in Shanghai. Which me
Lady_Fox [76]

Answer:

Starbucks is opening a location in China every 15 hours, and just opened its largest location in the world in Shanghai. Which method of international expansion is Starbucks utilizing?

wholly-owned subsidiaries and global outsourcing

Explanation:

7 0
3 years ago
Suppose you are committed to owning a $220,000 Ferrari. If you believe your mutual fund can achieve an annual return of 10.85 pe
jok3333 [9.3K]

Answer:

2,291,520

Explanation:

220,000×10.85%=23,870

23,870×96=2,291,520

7 0
3 years ago
Mitchell's money income is $150, the price of X is $2, and the price of Y is $2. Given these prices and income, Mitchell buys 50
MissTica

Answer:

1 unit of X must be sacrifised to gain a unit of Y, with satisfying Budget Constraint .

Explanation:

Budget Line shows the product combinations that a consumer can buy with given prices & money income (spending all) . Equation : P1X1 + P2X2 = M

Price ratio slope of the budget line i.e = P1/P2 : shows the amount of a good needed to be sacrifised to gain a unit of the other good , given prices & income.

So, Price Ratio : PX / PY = 2 / 2 = 1 in this case; implies 1 unit of Good X is needed to be sacrifised to gain a unit of good Y with given prices & income.

4 0
3 years ago
By 2015, the foreclosure rate was down by 20%. The metropolitan statistical areas showing the highest percentage of improvement
sweet-ann [11.9K]

The correct option is C) Washington, D.C.

By 2015, the foreclosure rate was down by 20%. The metropolitan statistical areas showing the highest percentage of improvement included all of the following except "Washington, D.C".

<h3>What is foreclosure rate?</h3>

The process of foreclosure starts when a borrower is unable to make their mortgage payments. When a mortgage is foreclosed, the lender normally seizes the property and makes an effort to sell it. This occurs when real estate is utilised as security for mortgage loans, making your house a form of security.

The given are the ways to avoid Foreclosure-

  • Ask For Forbearance: As you may remember, forbearance enables borrowers to temporarily suspend mortgage payments while they recover their savings, boost their income, or pay down debt in the wake of financial troubles.
  • Apply For A Refinance: Refinancing into a more manageable payment can prevent you from going into default on the loan if you're worried about going through with a foreclosure. This regrettably isn't a possibility for everyone since it can only really be done if you haven't missed a payment.
  • Ask For A Mortgage Reinstatement: If you experienced temporary financial issues that have subsequently disappeared, speak with your servicer to learn about your alternatives.
  • Apply For A Short Sale: Selling your house for less than what is owed on the mortgage is known as a short sale. This requires the lender's approval, and all of the sale's proceeds will go to the lender.

To know more about fastest-growing foreclosure rates, here

brainly.com/question/22474347

#SPJ4

The complete question is -

By 2015, the foreclosure rate was down by 20%. The metropolitan statistical areas showing the highest percentage of improvement included all of the following EXCEPT

A) Los Angeles.

B) Miami.

C) Washington, D.C.

D) Atlanta.

Washington, D.C.

6 0
2 years ago
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