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Alekssandra [29.7K]
3 years ago
11

Steve’s Outdoor Company purchased a new delivery van on January 1 for $47,000 plus $4,000 in sales tax. The company paid $13,000

cash on the van (including the sales tax), signing an 8 percent note for the $38,000 balance due in nine months (on September 30). On January 2, the company paid cash of $900 to have the company name and logo painted on the van. On September 30, the company paid the balance due on the van plus the interest. On December 31 (the end of the accounting period), Steve’s Outdoor recorded depreciation on the van using the straight-line method with an estimated useful life of 5 years and an estimated residual value of $4,700. Compute the depreciation expense to be reported for Year 1.
Business
1 answer:
cupoosta [38]3 years ago
3 0
Sorry idk the answers i’m just trying to ask my questions... sorry
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Mannarelli Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the mon
Serjik [45]

Answer:

$ 5.34

Explanation:

Calculation for cost per equivalent unit for conversion costs for September

First step is to find the Equivalent units of production

To complete beginning work-in-process:

Conversion 12,000

[15,000 units × (100%-20% )]

Units started and completed 65,000

(89,000-24,000)

Ending work-in-process

Conversion 21,600

(24,000 units × 90%)

Equivalent units of production 98,600

Second step is to calculate the Cost per equivalent unit using this formula

Cost per equivalent unit =Cost added during the period ÷Equivalent units of production

Let plug in the formula

Cost per equivalent unit = $526,524÷98,600

Cost per equivalent unit = $5.34

Therefore The cost per equivalent unit for conversion costs for September is closest to $ 5.34

7 0
3 years ago
Accounts payable: Select one: a. Are amounts owed to suppliers for products and/or services purchased on credit. b. Are long-ter
Nutka1998 [239]

Answer:

The correct answer is letter "A":  Are amounts owed to suppliers for products and/or services purchased on credit.

Explanation:

Accounts Payable is the amount of the total invoices currently awaiting payment by the company. These invoices are from suppliers of products and services that have recently been delivered. They are usually due within 15, 30 or 45 days after receiving the invoice from the vendor.

6 0
3 years ago
General Steel wants to install technology into its logistics management system. This technology will enable General Steel to gai
kati45 [8]

Answer: B. radio frequency identification.

Explanation: Radio Frequency Identification (RFID) is the use of radio waves to read and capture information stored on a tag attached to an object, providing a unique identifier for an object. RFID Technology is used in many industries and in a wide variety of applications as it can deliver a number of benefits fo item-revelations.

RFID is used for item level tagging in retail stores. In addition to inventory control, this provides both protection against theft by customers (shoplifting) and employees ("shrinkage") by using electronic self-checkoutillance (EAS), and a self checkout process for customers.

5 0
3 years ago
Read 2 more answers
To join an upscale country​ club, an individual must first purchase a membership bond for​ $20,000. In​ addition, monthly member
OverLord2011 [107]

Answer: $61,697.90

Explanation:

GIVEN the following ;

Membership bond = $20,000

Monthly membership due= $250

Annual percentage rate(APR) = 6% = 0.06

monthly rate (r) = 0.06 ÷ 12 = 0.005

Payment per period(P) = $250

Using the formula for present value of ordinary annuity:

PRESENT VALUE (PV) =

P[(1 - ((1 + r)^(-n)) ÷ r]

$250 [ 1 - ((1 + 0.005)^-360))÷0.005]

$250 [( 1 - (1.005)^-360)÷ 0.005]

$250 × [0.83395807196 ÷ 0.005]

$250 × 166.791614392335

PV = $41,697.90

Membership bond + present value

$20,000 + $41,697.90

= $61,697.90

8 0
3 years ago
1. Which of the following is an example of a SOCIAL influence on consumers
AveGali [126]

Answer:

reference groups

Explanation:

Reference groups are considered a social influence in consumer purchasing. They are often groups that consumers will look to to make purchasing decisions. So if a reference group endorses a product, either through use or statements about the product, those that look to the group will often purchase that product.

6 0
3 years ago
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