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enyata [817]
3 years ago
6

On January 1, 2019, Woodstock, Inc. purchased a machine costing $37,850. Woodstock also paid $1,950 for transportation and insta

llation. The expected useful life of the machine is 7 years and the residual value is $4,100. How much is the annual depreciation expense, assuming use of the straight-line depreciation method
Business
1 answer:
Novosadov [1.4K]3 years ago
8 0

Answer:

Annual depreciation expense=$5,100

Explanation:

Using the straight line method , an equal amount is charged as depreciation for each each over the estimated useful life of the asset.

Annual depreciation = (Cost - residual value)/Estimated number of years

Cost of the machine= 37,850 + 1,950 = 39,800

Annual depreciation expense= (39,800-4,100)/7= 5,100

Annual depreciation expense=$5,100

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No equivalent fraction of the equation is instructions to follow and analyze the diagram below the complete 5509 50 507MLG equals 43.6%, MLI equals 46.4%, GH equals $35.81 calls equals style equation to the 4396 equals I’m
7 0
3 years ago
What rate of output is appropriate for a nonprofit corporation (such as a hospital)?
Tanya [424]

Answer and Explanation:

Nonprofit organizations are not stressed over boosting benefit and rather need to expand yield. On account of a clinic this yield is patients who get more advantageous or on account of a college it is understudies who graduate that the nonprofit organizations need to increment. Simultaneously. they need to take care of the expenses of work and capital that go into keep their foundations running. This implies the pace of yield at which nonprofit organizations need to deliver ought to be when normal all out cost rises to the market cost with the goal that their benefits would be zero.

3 0
3 years ago
In a
artcher [175]

Answer:

Free-enterprise; government.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Free-enterprise economy.

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

Hence, in a free-enterprise system, supply and demand forces affect the production and consumption decisions. There is little to no government control in such a system.

4 0
3 years ago
Davis and Thompson have earnings of $850 each. The social security tax rate is 6% and the Medicare tax rate is 1.5%. Assuming th
Phoenix [80]

Answer:

127.50

Explanation:

850x2 employees=1700

1700x.075(7.5%)=127.50

8 0
3 years ago
Western Wear Clothing issues 3,000 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming t
Komok [63]

Answer:

The journal entry for the issuance of the common stock is shown below:

Explanation:

Cash A/c.............................................Dr    $33,000

     Common Stock A/c........................Cr   $30

     Paid in Capital A/c...........................Cr   $32,970

Working Notes:

Cash = Number of shares × Issue Price

= 3,000 × $11

= $33,000

Common Stock = Number of Shares × Par Value

= 3,000 ×  $0.01

= $30

Paid in Capital = Cash - Common stock

= $33,000 - 30

= $32,970

3 0
3 years ago
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