Yvonne’s job involves of ticketing and marking. This is
where products are being labeled with identification or that price tags were
being assigned to each products for consumers to have the knowledge about the
product in which Yvonne’s job is involved to.
Cost on January 1 2016 = $1,250,000
Life = 10 years
Therefore,
Double-declining depreciation rate = 2*(1,250,000/10)/1,250,000 = 2*0.1 = 2*10% = 20%
Book value at end of 2016 = 1,250,000 - (1,250,000*20/100) = $1,000,000
Book value at end of 2017 = 1,000,000 - (1,000,000*20/100) = $800,000
Book value at end of 2018 = 800,000 - (800,000*20/100) = $640,000
Changing to straight line depreciation:
Life remaining = 7 years
Book value = $640,000
Depreciation expense per year = 640,000/7 = $91,428.57
Therefore, depreciation expense for 2019 = $91,428.57
Answer:
La Boulangerie Bakery,
Baton Rouge,
Louisiana, U.S.A
25th April, 2021
Dear esteemed customers,
I bring to you an unpalatable news about the changes that would be initiated in our business approach to our customers.
As you can bear witness to, there has been a drastic increase in the cost of doing business in our industry with the notable changes being in the wheat used in producing our confectioneries, the sugar as well as the rising cost of transportation to various customers' locations.
Taking this into account, our company decided to introduce a flat rate delivery cost of $20 irrespective of the location of our customers. This would help us to minimize our production cost. Inorder to also consider our customers, there is a free 20 pieces cake (box) offered to every customer who buys 50 box of each product. This means, 50 box of cupcakes earns you one box free, 100 box cupcake purchase earns you 2 free boxes.
I do hope you would understand our challenges as a company and bear with us regarding to this delivery charge introduction.
Sincerely,
Maris Albert (For the company)
Explanation:
Answer:
On an income statement, the company would declare c. $21,000 expenses
Explanation:
Wallace Enterprises received $30,000 from customers in exchange for providing electronic components. Income from the exchange was $30,000
During the second quarter of the year, total expense = supplies expense + interest expenses + wages expense = $5,000 + $1,000 + $15,000 = $21,000
Income from the exchange - total expense = $30,000 - $21,000 = $9,000>0
The company recognizes gain $9,000.
On an income statement, the company would declare $21,000 expenses
Answer and Explanation:
The Preparation of the simple income statement and a balance sheet is shown below:-
Corporation X
Income Statement
for the Year Ended xxxx
Particulars Amount
Sales $1,000,000
Less: Cost of goods sold $500,000
Gross profit $500,000
Less: Other expenses $60,000
EBIT $440,000
Less: Interest $70,000
EBT $370,000
Less: Income tax $100,000
Net income $270,000
Number of shares outstanding $80,000
Earning per share $3.375
(Net income ÷ Number of shares outstanding)
Corporation X
Income Statement
for the Year Ended xxxx
Particulars Amount
Assets
Cash $70,000
Accounts Receivable $150,000
Inventory
Raw Material $80,000
Finished Goods $250,000
Total Current Assets $550,000
Plant & Equipment $410,000
Total Assets $960,000
Liabilities
Accounts Payable $160,000
Other Current Liabilities $60,000
Total Current Liabilities $220,000
Long term Debt $200,000
Equity $540,000
Total Liabilities & Equity $960,000
