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
andriy [413]
3 years ago
6

On January 2, Haskins Company purchases a laser cutting machine for use in fabrication of a part for one of its key products. Th

e machine cost $80,000, and its estimated useful life is five years, after which the expected salvage value is $5,000. For both parts (a) and (b) below: (1) Compute depreciation expense for each year of the machine's five-year useful life under that depreciation method. (2) Use the financial statements effects template to show the effect of depreciation for the first year only for that method. (a) Straight-line
Business
1 answer:
MakcuM [25]3 years ago
3 0

Answer:

Explanation:

Cost of machine - $80000

Useful life - 5 years

Salvage value -$5000

Depreciable amount = 80000-5000= 75000

Annual depreciation = 75000/5 = 15000

Year                    DR                       Accum Dep

Cost                                                                                   8000                  

1                Depreciation 15000       15000  

2               Depreciation  15000      30000

Year 3      Depreciation  15000      45000

Year 4      Depreciation   15000      60000

Year 5      Depreciation   15000      75000

Financial statement template

Balanced sheet

Cash asset + Non cash asset = liabilities + Equity

Cash asset + 65000  = liabilities + equity

Income statement

Revenue - expenses = Net income

Revenue - 15000 - Net Income

You might be interested in
_____ involves marketing philosophies, policies, procedures, and actions whose primary objective is the enhancement of society.
Leto [7]

Social responsibility in marketing refers to marketing philosophies, strategies, practices, and actions whose main goal is to improve society and safeguard the environment by using environmentally friendly goods and methods.

SOCIAL RESPONSIBILITY: WHAT IS IT?

Sustainability can be attained through social responsibility. Any business or system can increase its chances of long-term sustainability and success by adopting fundamental social responsibility principles including accountability and transparency.

An organization's accountability for the effects of its choices and actions on people, the environment, and society through openness and moral behavior that: contributes to societal well-being and sustainable development, including health reflects an awareness of stakeholder expectations is in accordance with all current laws and international standards of conduct is incorporated across the business and used in partnerships.

to know more about social responsibility

brainly.com/question/12951431

#SPJ4

4 0
1 year ago
A firm has earnings before interest and taxes of $27,130, net income of $16,220, and taxes of $5,450 for the year. While the fir
Shtirlitz [24]

Answer:

The answer is -$4,940

Explanation:

Net income = Profit before interest and tax minus interest minus taxes

We rewrite the formula to get interest:

Interest = Profit before interest and tax minus taxes minus net income

= $27,130 - $5,450 - $16,220

=$5,460

Cash flow to creditor equals:

Amount repaid to suppliers minus new amount borrowed plus interest

$31,600 - $42,000 + $5,460

-$4,940

7 0
3 years ago
Read 2 more answers
began a new development project in 2020. The project reached technological feasibility on June 30, 2021, and was available for r
gogolik [260]

Answer:

$352,500

Explanation:

Development costs incurred prior to June 30, 2021 must be expensed, they cannot be capitalized.

Capitalized R&D costs = $1,410,000

External use software (software intended to be sold to third parties) should be amortized using straight line amortization (4 years in this case):

amortization expense = $1,410,000 / 4 = $352,500

4 0
3 years ago
Jamal was recently hired as a sales representative for a pharmaceutical company. He notices that all the other sales reps "pad"
il63 [147K]

Answer: Conformity

Explanation: Ethics trap refers to the situation in which an individual finds difficult to assess what is morally correct for him or her and what is not.

  Conformity refers to the ability of an individual to match the customs and beliefs of a group to mingle with that particular group.

In the given case, Jamal has been working in the company where all the members have been cheating on their accounts except for him. This urges Jamal to do the same for being a part of group.

Hence we can conclude that the correct option is C.

7 0
3 years ago
Predict how the price of athletic shorts would change if schools banned their use
stira [4]

Not enough info given about the situation but the best guess would be the price would decrees.


When the demand for a product drops (i.e being banned) the price drops

4 0
4 years ago
Read 2 more answers
Other questions:
  • TwitterMe, Inc., is a new company and currently has negative earnings. The company’s sales are $1,500,000 and there are 135,000
    12·1 answer
  • In order for researchers to be able to say that variable a causes variable b, they must eliminate the possible influence of ____
    8·1 answer
  • Stocks A and B have the following data. The market risk premium is 6.0% and the risk-free rate 6.4%. Assuming the stock market i
    8·1 answer
  • Why is the demand for most services--such as popular restaurants--extremely time-and-place dependent?
    8·1 answer
  • ABC Corporation uses the weighted-average method in its process costing system.
    8·1 answer
  • A coffee shop is what kind of reatailing distribution channel?
    10·2 answers
  • Paying attention to the trends that might impact your future career is called what?
    9·2 answers
  • Suppose you are the CEO of a start-up toy manufacturer. You know that if your business is to be successful, you have to create a
    6·1 answer
  • What is the main aims of forming a maize milling company ​
    11·1 answer
  • The owner of an undeveloped lot agrees to sell the lot to a buyer. The written agreement identifies the parties, describes the p
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!