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SSSSS [86.1K]
3 years ago
8

Using the double declining depreciation method for an asset with a useful life of 7 years. What is the depreciation expense for

year 2 on an asset costing $110000? Note: Round the answer to 0 decimal places (i.e. nearest dollar).
Business
1 answer:
Nastasia [14]3 years ago
4 0

Answer:

The depreciation expense for year 2 is $13,469

Explanation:

Computing the depreciation expense for year 1 is:

Depreciation expense = Asset cost / Number of useful life

= $110,000 / 7

= $15,714.28

Computing the depreciation expense for year 2 is as:

Asset cost for year 2 = Asset cost - Depreciation expense for year 1

$110,000 - $15,714.28

= $94,285.72

So, depreciation expense would be:

Depreciation expense = Asset cost for year 2 / Number of useful life

= $94,285.72 / 7

= $13,469

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Cedar Grove Industries produces and sells a cell phone-operated home security control. Information regarding the costs and sales
Gre4nikov [31]

Answer:

$47,000

Explanation:

Cedar Grove Industries CVP Income Statement for Month Ending May, 2017

Total Per Unit

Sales ($49×7,600) $372,400 49

Less Variable Cost

($28×7,300) $204,400 28

Contribution Margin $168,000 21

Less Fixed Cost$121,000

Net Income (loss)$47,000

5 0
3 years ago
The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet: Cash $ 25,000 Liabi
sleet_krkn [62]

The amount of the loss from the sale of non-cash assets that would have been allocated to Bevell is $45,000.

Data and Calculations:

Allen, Bevell, and Carter Partnership Balance Sheet

Cash                   $ 25,000          Liabilities                  $ 175,000

Noncash assets 500,000          Allen, capital                 90,000

                                                    Bevell, capital             100,000

                                                    Carter, capital             160,000

Total               $ 525,000            Total                       $ 525,000

Profit and Loss sharing ratio = 3:2:5

Proceeds from sale of assets = $275,000

Loss from sale of non-cash assets = $225,000 ($500,000 - $275,000)

Thus, the amount of the loss from the sale of non-cash assets that would have been allocated to Bevell is $45,000 ($225,000 x 2/10).

Learn more: brainly.com/question/17149203

7 0
2 years ago
The growth of industrial manufacturing affected skilled tradesmen by:.
alina1380 [7]

answer:

removing control of their labor and their sense of independence.

8 0
2 years ago
Which source of investor income is susceptible to double taxation?
sesenic [268]
Double taxation is occurs when income taxes<span> are paid twice on the same source of </span>earned income. The income  can be taxed at both the corporate level and personal level.<span>
</span><span>Dividends as a source of investor income is susceptible to double taxation.</span>
3 0
3 years ago
Compared with undifferentiated marketing, differentiated marketing is more likely to lead to?
Feliz [49]

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to Higher costs of doing business

<h3>What is undifferentiated marketing?</h3>

Mass marketing, often known as undifferentiated marketing, is a tactic that involves developing a single message for every possible audience. It increases brand recognition and enables firms to contact more customers at a reduced cost. A business may decide to use mass marketing, also known as undifferentiated marketing, if the market segmentation effort was unsuccessful in producing categories that were meaningfully and significantly distinct. Here, it is best to concentrate on similarities rather than differences.

When a corporation decides on one or a few market niches that provide them the best chances, differentiated marketing, also known as segmented marketing, is used. Special offers are targeted at each segment's customers in an effort to appeal to them specifically.

The goal of differentiated marketing is to develop a highly specialized good or service that appeals to a select audience. Undifferentiated marketing, however, appeals to a wide audience. In Services Marketing, K. Rama Mohana Rao claims that the latter is more frequently referred to as mass marketing.

Hence, Compared with undifferentiated marketing, differentiated marketing is more likely to lead to Higher costs of doing business.

To learn more about undifferentiated marketing refer to:

brainly.com/question/15418516

#SPJ4

4 0
2 years ago
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