Answer:
d. $74,749.60 ( depreciation allowance @ 8.92% )
Explanation:
Under Modified Accelerated Cost Recovery System the Office furniture and fixtures, agricultural machinery and equipment, any other property not associated with another class is classified as 7-years property.
These assets are depreciated as follows:
Year Percentage Depreciate
1 14.29%
2 24.49%
3 17.49%
4 12.49%
5 8.93%
6 8.92%
7 8.93%
8 4.46%
In the Sixth year depreciation will be charged by 8.92%.
Asset Value = $838,000
Depreciation Allowance in 6th year = $838,000 x 8.92%
Depreciation Allowance in 6th year = $74749.60
*Option for the given Mcqs are missing and written as follows:
Select one:
a. $80,411.60
b. $74,833.40
c. $89,108.00
d. $74,749.60
e. $89,327.08
Answer:
The requirement of the question is as below:
How much must Alan deposit on January 1? (Round your final answer to the nearest whole dollar amount.)
What is the interest for the four years? (Round your final answer to the nearest whole dollar amount.)
Alan deposit on January 1 is $ 58,802.39
Interest for four years is $21,197.61
Explanation:
The first is asking for today's worth of the investment,which is the amount to be invested,this can be computed using the present value as shown below:
PV=FV*(1+r)^-n
PV is the present value
FV is the worth of the investment in 4 years from now which is $80,000
r is the rate of return of 8%
n is the number of years of investment which is 4 years
PV=$80,000*(1+8%)^-4
PV=$80,0008(1+0.08)^-4
PV=$80,000*(1.08)^-4
PV =$ 58,802.39
interest for four years=FV-PV
interest for four years=$80,000-$ 58,802.39
=$21,197.61
Answer:
The correct answer is letter "B": The tendency of competition to cause individuals and firms to unintentionally promote the interests of society.
Explanation:
In his book "<em>An Inquiry into the Nature and Causes of the Wealth of Nations</em>" (1776), British economist Adam Smith (1723-1790) introduced the term "invisible hand" to refer that economic factors (buyers and sellers) naturally influence in the fluctuations of supply and demand without the need for the intervention of the government.
According to Smith, buyers and sellers interactions act as an "invisible hand" arranging proper levels of competition between businesses and promoting the best interest of societies.
Answer:
<u>Overhead Report for heavy-duty trailer axles.</u>
Order size ($ 16.85 × 200) $3,370.00
Customer orders ($ 320.00 × 1) $320.00
Product testing ($ 89.00 × 4) $356.00
Selling ( $ 1,090.00 × 2) $2,180.00
Total $6,226.00
Conclusion :
The total overhead cost assigned to the order is $6,226.00
Explanation:
ABC system allocates overheads to jobs using cost drivers.
First an Activity Center where costs accumulate is identified these can be several in our scenario we have four Activity Centers.
Then the Cost driver rate is calculated for each Activity Center. Our question has provided these.
The final step is to allocate the overheads to a particular job using the cost driver rate.
