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Makovka662 [10]
3 years ago
11

g Texas Corporation purchases a piece of equipment on January 1 for $300,000 and the equipment has an expected useful life of te

n years. Its salvage value is estimated to be $20,000. Assuming Texas uses the double-declining balance depreciation method, what would be the accumulated depreciation at the end of the second year
Business
1 answer:
Vikki [24]3 years ago
6 0

Answer:

$108,000

Explanation:

For computing the accumulated depreciation for the end of the second year

First we have to find the depreciation rate which is shown below:

= One ÷ useful life

= 1 ÷ 10

= 10

Now the rate is double So, 20%

In year 1, the original cost is $300,000, so the depreciation is $60,000 after applying the 20% depreciation rate

And, in year 2, the depreciation is

=($300,000 - $60,000) × 20% = $48,000

So, the accumulated depreciation at the end of the second year is

= $60,000 + $48,000

= $108,000

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Net present value LO P3 Beyer Company is considering the purchase of an asset for $250,000. It is expected to produce the follow
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Answer:

$20,996.49

Yes

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be found using a financial calculator.

Cash flow in year 0 = $-250,000

Cash flow in year 1 = $83,000

Cash flow in year 2 = $43,000

Cash flow in year 3 = $76,000

Cash flow in year 4 = $127,000

Cash flow in year 5 = $49,000

I = 12%

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The company should accept the project because the NPV is postive.

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

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Describe data processing in accounting by selecting the correct statements below. (Check all that apply.) Multiple select questi
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Answer:

✓Batch processing accumulates source documents for a period of time and then processes them all at once.

✓ Online processing enters and processes data as soon as source documents are available.

✓An advantage of online processing is timeliness.

✓ Accounting systems differ with regard to how input is entered and processed.

Explanation:

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The data processing can be regarded as process which involves set of operations that helps in transforming data to useful information. This encompass Collection of data, sorting of data to suitable format, entry of data. In accounting this process could involve recording, as well posting/closing steps which are required in the journals and ledgers. It should be noted that data processing in accounting can be described as;

✓Batch processing accumulates source documents for a period of time and then processes them all at once.

✓ Online processing enters and processes data as soon as source documents are available.

✓An advantage of online processing is timeliness.

✓ Accounting systems differ with regard to how input is entered and processed.

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Answer:

b. Production

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