Filter the data in place so that only rows where the category value is meals and the cost value is greater than 20 are shown. th
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Answer:
Please see the attached image for the Horizontal Financial Statements of Sinclair Manufacturing Company.
Explanation:
5. FURNITURE - Straight Line Method
Book Value of Furniture = Cost of Acquisition - Residual Value
Cost of Acquisition = $9,600
Residual Value = $1,600
Book Value of Furniture = $9,600 - $1,600
Book Value of Furniture = $8,000
Useful Life = 4 years
Depreciation Expense = $8,000 / 4 years
Depreciation Expense = $2,000 per year
6. EQUIPMENT - Straight Line Method
Book Value of Equipment = Cost of Acquisition - Residual Value
Cost of Acquisition = $16,000
Residual Value = $1,000
Book Value of Furniture = $16,000 - $1,000
Book Value of Furniture = $15,000
Useful Life = 5 years
Depreciation Expense = $15,000 / 5 years
Depreciation Expense = $3,000 per year
Answer:
17.27 years
Explanation:
For this question we use the NPER formula that is shown on the attachment below:
Provided that
Present value = $340,000
Future value = $25,000
PMT = $35,000
Rate of interest = 7.5%
The formula is shown below:
= NPER(Rate;PMT;-PV;FV;type)
The present value come in negative
So, after solving this, the number of year is 17.27 years
