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dlinn [17]
4 years ago
9

On January 1, 2015, Alpha Manufacturing purchased a machine for $920,000. The company expects the machine to remain useful for e

ight years and to have a residual value of $70,000. Alpha Manufacturing uses the straight-line method to depreciate its machinery. Alpha Manufacturing used the machine tor four years and sold it on January 1, 2019. for S400.000. Compute accumulated depreciation on the machine at January 1, 2019 (same as December 31, 2018). Record the sale of the machine on January 1, 2019.
Business
1 answer:
Pie4 years ago
4 0

Answer:

The accumulated depreciation at 1 January 2019 = $425000

January 1, 2019

Accumulated Depreciation               425000 Dr

Cash                                                    400000 Dr

Loss on disposal                                95000 Dr

      Machine                                                               920000 Cr

Explanation:

The straight line method of depreciation charges a constant depreciation expense every year through out the estimated useful of the asset. The depreciation expense per year under this method is calculated as,

Depreciation expense per year = (Cost - Residual value) / estimated useful life of the asset

Depreciation expense per year = (920000 - 70000) / 8 = $106250 per year

The asset was used for four years from 2015 to 2018. Thus, the accumulated depreciation at 31 December 2018 is,

Accumulated depreciation - 31 Dec 2018 = 106250 * 4 = $425000

The Net book value of the asset at 31 December 2018 = 920000 - 425000 = $495000

The loss on disposal is = 495000 - 400000 = $95000

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Answer:

The correct answer is:  Departmentalization.

Explanation:

Departmentalization is the process of dividing the company into different segments so each unit is focused on a specific task but all of them are interconnected with the company somehow. Departmentalization arises as long as the firm grows. The disadvantage is that departmentalization creates more managerial areas that make the organization less flexible.

5 0
3 years ago
Financial managers must know how to interpret a company's financial statements in order to Multiple select question. effectively
RideAnS [48]

Financial Managers must know how to interpret a company's financial statements to effectively allocate the firm's financial resources and generate the best return possible for the company in the long run.

<h3>Financial Managers</h3>

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As with enhancement in technology, financial manager's role is mainly shifted from preparations of reports to analysis and determine the best possible ways for companies to expand.

<h3>Multiple Selections</h3>

Keeping in view the above points mentioned, the financial managers cannot recruit suitable candidates not setting the price of the company's product is their duty. Therefore, these points are invalid.

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Learn more on Financial Managers here: brainly.com/question/1305901

7 0
2 years ago
Jose gross weekly salary as a logger is $630. He pays 6.2% Social Security tax, 1.45% Medicare tax, and $14.20 for health insura
Slav-nsk [51]

Answer:

$568

Explanation:

Gross salary = $630

Social security tax = 6.2%

Medicare tax = 1.4%

Health insurance = $14.20

We add up what is paid as tax

= 6.2 + 1.4 = 7.6%

7.6% of $630

= 0.076 x 630

= $47.88

So he pays tax of 47.88 dollars from his gross salary

We add his tax to what he pays for health insurance

= 47.88 + 14.20

= $62.08

the formula for net pay:

gross salary - deductions

= $630 - $62.08

= $567.92

this is approximately $568

thank you!

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3 years ago
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Answer:

The correct answer is A

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When Fed decreases the money supply in the market, then there prevails the shortage of the money at the prevailing rate of interest. So, the interest rate need to be increased in order to dissuade people from holding the money. Therefore, the households and the firms will sell the treasury bills and other kind of financial assets by decreasing the prices and which lead to increase in the interest rate.

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