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aivan3 [116]
3 years ago
15

XYZ, Inc. purchased an office building on October 1, 2020, that was put on the books at $800,000. The building is expected to be

used for 35 years and at the end of the 35 years will be sold for an estimated selling price of $100,000. XYZ closes its books at the end of every calendar year. XYZ, Inc. uses the straight-line method of depreciation. Based on this information, which of the following is correct?
a. Depreciation Expense at 12/31/20 is $20,000.
b. Accumulated Depreciation at 12/31/20 is $20,000
c. Depreciation Expense at 12/31/2021 is $5,000
d. Accumulated Depreciation at 12/31/21 is $25,000
Business
1 answer:
Alika [10]3 years ago
4 0

Answer:

d. Accumulated Depreciation at 12/31/21 is $25,000

Explanation:

Depreciable amount = $800,000 - $100,000 = $700,000

Annual depreciation expenses = $700,000 / 35 = $20,000

Depreciation expenses for 2020 (3 months i.e. Oct. 1 - Dec. 31) = $20,000 * (3 / 12) = $5,000.

Accumulated depreciation at 12/31/21 = Depreciation for 2020 + 2021 annual depreciation expenses = $5,000 + $20,000 + $25,000.

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Virty [35]
Most of the times when a personnel is sent for an official business trip, transportation and lodging, and sometimes even meals are shouldered by the company. 

In the statement given above, it is noted that the meals that Melissa took are considered personal in nature. Hence, she can deduct this from the business expenses. 
8 0
3 years ago
Ingram Electric Products is considering a project that has the following cash flow and WACC data. What is the project's MIRR? No
SpyIntel [72]

Answer:

the project's MIRR is 13.50 %.

Explanation:

MODIFIED INTERNAL RATE OF RETURN (MIRR)

-It is the rate that causes the Present Value of the Terminal Value (Future Cash flows at the end of the Project) to equal Present Value of Cash outflows.

-MIRR assumes a reinvestment rate at the end of the project

The First Step is to Calculate the Terminal Value at end of year 3.

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 3 - n)

                                 = $350 x (1.11) ^ 2 + $350 x (1.11) ^ 1 + $350 x (1.11) ^ 0

                                 = $431.24 + $388.50 + $350.00

                                 = $1,169.74

The Next Step is to Calculate the MIRR using a Financial Calculator :

(-$800)        CFj

0          CFj

0          CFj

$1,169.74  CFj

Shift IRR/Yr 113.50 %

Therefore, the MIRR is 13.50 %

6 0
3 years ago
A company that produces baseball gloves is considering buying some new equipment that it expects will increase future profits. I
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Will increase/decrease per annum
8 0
3 years ago
There are 12 general categories of threat to an organization's people, information, and systems. List at least six of the genera
Alenkinab [10]

Answer:

1. Human Error: an example is disregard to safety measures.

2. Compromises to Intellectual Property: an example is piracy of an organization's product.

3. Forces of Nature: an example is earthquake.

4. Information extortion: an example is coercion or blackmail.

5. Quality of service deviation: an example is an epileptic or poor power supply.

6. Industrial espionage: an example is unethical hacking of data.

Explanation:

A threat to an organization's people, information, and systems is basically any circumstances or events that poses a potential danger, damage or adverse affect to its smooth running.

These threats can be classified into six (6) categories and these are;

1. Human Error or failure: this are errors that arise as a result of having incompetent employees (slips and lapses) or mistakes stemming from the workers. <em>An example of human error is an employee that disregard safety measures. </em>

2. Compromises to Intellectual Property: this usually occurs when an intellectual property is stolen illegally from an organization. <em>An example is piracy of an organization's product.</em>

3. Forces of Nature: this is usually caused by a natural disaster. <em>Examples of forces of nature are flood, earthquake, fire etc. </em>

4. Information extortion: this arises when sensitive data about an organization is held through <em>coercion, bribery or computer hacking</em>.

5. Quality of service deviation: this would occur when there's a shortage in the quality of service received by an organization, contrary to what is expected or required. <em>Examples are poor power supply, poor internet service etc. </em>

6. Industrial espionage: this is as a result of loosing sensitive data to <em>unauthorized individuals or hackers.</em>

7 0
3 years ago
A portfolio analysis involves:________
ollegr [7]

Answer:

separating a company's products and services into different categories that represent its business portfolio.

Explanation:

8 0
3 years ago
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