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vredina [299]
2 years ago
11

Ichor Co. reported equipment with an original cost of $379,000 and $344,000 and accumulated depreciation of $153,000 and $128,00

0, respectively, in its comparative financial statements for the years ended December 31, 20X5 and 20X4. During 20X5, Ichor purchased equipment costing $50,000 and sold equipment with a carrying value of $9,000. What amount should Ichor report as depreciation expense for 20X5?A. $19,000
B. $25,000
C. $31,000
D. $34,000
Business
1 answer:
mezya [45]2 years ago
7 0

Answer:

C. $31,000

Explanation:

The computation of the depreciation expense is shown below:

Net balance of the equipment on the year 20X5

= Original cost - accumulated depreciation

= $379,000 - $153,000

= $226,000

Net balance of the equipment on the year 20X4

= Original cost - accumulated depreciation

= $344,000 - $128,000

= $216,000

So, the difference is $10,000

And, in 20X5, the loss on sale of equipment is

= $50,000 - $9,000

= $41,000

Now the depreciation expense is

= $41,000 - $10,000

= $31,000

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stiks02 [169]
The answer should be two or more and central
7 0
3 years ago
Read 2 more answers
2019 2018 2017 2016 2015 Sales $ 672,736 $ 439,697 $ 356,030 $ 248,972 $ 185,800 Cost of goods sold 352,273 230,192 188,636 130,
drek231 [11]

Answer:

                                      2019        2018     2017      2016     2015

Sales                              362           237      192         134        100

Cost of goods sold       365           238      195         135        100

Accounts receivable    254           202       191          114        100

Explanation:

Note: See the attached excel file for the table showing how the trend percents are calculated.

Trend percents, often known as index numbers, can be described as percents that are used for comparing financial data across time to a based year or period. This can be calculated using the following formula:

Trend percents = (Analysis year amount / Base year amount) * 100 ........ (1)

Using equation (1), the following table shows the trend percents computed as follows:

                                     2019         2018     2017      2016     2015

Sales                              362           237       192         134        100

Cost of goods sold       365           238       195         135        100

Accounts receivable     254           202       191          114        100

Download xlsx
4 0
3 years ago
If the discount rate is 21% and the steady growth rate after 3 years is 2%, what should the stock price be today
jonny [76]

<u>Complete Question:</u>

Tattletale News Corp. has been growing at a rate of 20% per year, and you expect this growth rate in earnings and dividends to continue for another 3 years.

a. If the last dividend paid was $10, what will the next dividend be? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Dividend  $

b. If the discount rate is 21% and the steady growth rate after 3 years is 2%, what should the stock price be today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Stock price  $

Answer:

Requirement A. $12 per share

Requirement B. $44.14 per share

Explanation:

Requirement A.

The next dividend can be calculated using the following equation:

Next Dividend = D0 * (1 + g)

Here

D0 is the current dividend which is $10 and g is the Growth Rate which is 20% for the first three years

By putting values, we have:

Next Dividend = $10 * (1 + 20%)

= $12 per share

Requirement B.

Year  Dividend  Growth Rate  New Dividend

1               10                      20%           12

2               12                      20%                 14.40

3                 14.4                     20%         17.28

4            17.28                    2%                   17.63

Stock Price = $17.63 * (1 + 2%) / (21% - 2%) = $94.62

The above stock price calculated is the value of stock at the end of year 4. To discount it back to year zero, we will discount it by 21%.

Stock price at year0 = $94.62 / (1 + 21%)^4 = $44.14 per share

6 0
2 years ago
If the rate of inflation is 2.2% per year, the future price pt (in dollars) of a certain item can be modeled by the following ex
postnew [5]

Answer:

1693.25

Explanation:

The computation of the current price of the item and the price 9 years from today is shown below:-

p(t) = 1,200 × (1.039)^t

Now, the current price can be found by putting t = 0

p(0) is

1,200\times (1.039)^0 = $1,200

The price 10 years from today

p(9) is

1,200\times (1.039)^9

Now we will solve the above equation

= 1,200 × 1.411041958

= 1693.25035

or

= 1693.25

6 0
2 years ago
A shift from labor to equipment is:
leva [86]

Answer:

In summary, labor supply is the total hours that workers or employees are willing to work at a given wage rate. Changes in income, population, work-leisure preference, prices of related goods and services, and expectations about the future can all cause the labor supply to shift to the right or left.

6 0
2 years ago
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