How long will it take an investment of $5,000 to grow to $7,500 if it earns simple interest of 10% per year?

Bramble Company purchased a new van for floral deliveries on January 1, 2018. The van cost $66000 with an estimated life of 5 ye

fgiga [73]

Answer:

$42,240

Explanation:

The computation of the balance of the Accumulated Depreciation account at the end of 2019 is as follows;

But before that the depreciation rate is

= 1 ÷ 5 × 2

= 40%

For the first year, the depreciation expense is

= $66,000 × 40%

= $26,400

Now for the 2019, the depreciation expense is

= ($66,000 - $26,400) × 40%

= $15,840

Now the accumulated depreciation is

= $26,400 + $15,840

= $42,240

6 0

3 years ago

Assume Joe Harry sells his 25% interest in Joe's S Corp., Inc. to Tyrone on January 29. Using the specific identification alloca

WARRIOR [948]

Answer:

The $29,000 is the income which does harry report

Explanation:

Special identification allocation method: Under this method, the allocation is done on the basis of days, weeks, etc to know how much inventory is left on the particular date.

First we have to calculate the income of one day so that we can easily compute for the 29 days. The calculation is shown below.

One day income = Total income ÷ Number of days in a year

= $1,460,000 ÷ 365 days

= $4,000

Now,the income is

= one day income × 29 days × rate if interest

= $4,000 × 29 × 25%

= $29,000

Thus, the $29,000 is the income which does harry report

4 0

3 years ago

Nomi is in the highest individual tax bracket and receives $375 in qualified dividends from Omega Corp. Nomi's tax liability (no

Makovka662 [10]

Answer:

A qualified dividend is taxed in the same was as long term capital gains. The tax rates for long term capital gains are lower than the tax rates for ordinary income and they range form 0 to 20%. In this case, since Nomi is in the highest tax bracket, she will most certainly pay the 20% tax rate on qualifying dividend = $375 x 20% = $75.

Explanation:

8 0

3 years ago

A cement manufacturer has supplied the following data: Tons of cement produced and sold 260,000 Sales revenue $ 1,206,400 Variab

fredd [130]

Answer:

Unitary contribution margin= $2.47

Explanation:

Giving the following information:

Tons of cement produced and sold 260,000

Sales revenue $ 1,206,400

Variable manufacturing expense $ 479,570

Variable selling and administrative expense $ 84,630

<u>First, we need to calculate the total and unitary variable cost:</u>

Total variable cost= 479,570 + 84,630= $564,200

Unitary variable cost= 564,200 / 260,000= $2.17

<u>Now, the unitary selling price:</u>

Selling price= 1,206,400 / 260,000= $4.64

<u>Finally, the unitary contribution margin:</u>

Unitary contribution margin= 4.64 - 2.17

Unitary contribution margin= $2.47

4 0

3 years ago

Read 2 more answers

Which of the following best describes retained earnings? Select one: Shows in and out flows of cash from the company during a pe

jarptica [38.1K]

The option that best describes retained earnings is records level of reinvested profits.

<h3>What is retained earnings?</h3>

Retained earnings is the amount of a company's earnings that is not paid out to shareholders as dividends or used to pay debtors. It is the amount of money that can be reinvested into the business.

To learn more about retained earnings, please check: brainly.com/question/14529006

#SPJ1

6 0

2 years ago