Answer:
$90,400
Explanation:
Mondale Winery depreciates it's equipment by making use of the group method.
The cost of equipment that was purchased in 2021 totaled $565,000
The residual value of the equipment was $54,000
The group depreciation rate is 16%
= 16/100
= 0.16
Therefore, the annual depreciation can be calculated as follows
Annual depreciation= Cost of equipment × Group depreciation rate
= $565,000×0.16
= $90,400
Hence the annual depreciation for the group is $90,400
Answer:
Journal entries for the transactions are given below
Explanation:
1. Development of new product
DEBIT CREDIT
Research and development $24,000
Cash $24,000
2. Paid the plaintiff for losing patent
DEBIT CREDIT
Legal fee (expense) $8,000
Cash $8,000
3. Bought Equipment and signed non-interest bearing note
DEBIT CREDIT
Equipment Cash price $37,000
Discount on note payable $5,000
Cash paid $18,000
Note payable $24,000
4. Installed sprinkler system
DEBIT CREDIT
Sprinkler system $40,000
Cash $40,000
5. Plaintiff paid for successful infringement suit on its patent
DEBIT CREDIT
Patent $24,000
Cash $24,000
6. Bought New equipment and traded old one
DEBIT CREDIT
New Equipment $13,600
Accumulated depreciation $6,800
Loss on sale $3,400
Old Equipment $13,400
Cash $10,400
Working:
Accumulated depreciation = Original Cost - book value
Accumulated depreciation = $13,400 - $6,600
Accumulated depreciation = $6,800
South africa’s is a cool place,
Consider two processes. If both versions create the same benefit, but one costs more than the other, the higher-cost version is less Efficient than the lower-cost version.
<h3>What is Process Quality?</h3>
Process Quality = measured in two dimensions: process effectiveness and process efficiency
Effective Business Process = enables the organization to accomplish its strategy. ex: investigating whether 3D printing will help accomplish the strategy of having the largest selection of parts in the industry
Efficiency Business Process = the ratio of benefits to costs. ex: consider two versions that create the same benefit, but one costs more than the other does, meaning the higher-cost version is less efficient than the lower-cost version/if both versions cost the same, but one generates less benefit than the other, then the lower-benefit one is less efficient.
Learn more about Efficiency Business Process on:
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Answer:
Dr. Cr.
Work in process $73,000
Manufacturing overhead $13,000
Account Payable $86,000
Explanation:
The Direct cost are those which are directly attributable to the product or service under consideration. Indirect cost are those which cannot be directly assigned to product or service cost. All the direct cost is added to the work in process account and indirect cost are included in the manufacturing overhead account.
