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In-s [12.5K]
3 years ago
15

Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire electricity to the

machine and an additional $1,160 to secure it in place. The machine will be used for six years and have a $14,000 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of.
Business
1 answer:
Aleksandr-060686 [28]3 years ago
7 0

Answer:

First we must determine the total cost of the machine:

total cost = $178,000 + $2,480 + $1,160 = $181,640

Now we must find the depreciable value:

depreciable value = total cost - salvage value = $181,640 - $14,000 = $167,640

since the machine is going to be used for six years, the depreciation expense per year = depreciable value / useful life

depreciation expense per year = $167,640 / 6 years = $27,940

if it was depreciated during 5 years, the total depreciation expense would be: $27,940 per year x 5 years = $139,700

If the machine was depreciated before time, and sold only at its salvage value, Onslow Corp. should report a loss of $27,940.

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The high rate of inflation in Mexico would increase its citizens purchasing power.

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2 years ago
The Mallak Company produced three joint products at a joint cost of $128,000. Two of these products were processed further. Prod
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Answer: $61667

Explanation:

For product P

Sales = $269,500

Less: Additional processing cost = $214,000

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Sales = $44,000

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For product R

Sales = $206,500

Less: Additional processing cost = $114,000

Net realizable value = $92500

Total net realizable value = $55500 + $44000 + $92500

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= 128000 × 92500/192000

= $61667

8 0
2 years ago
Study Guide Chapter 1
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Answer:

The statement is true. Executive orders from the president and the laws that are passed by the Congress can be challenged before they are agreed and passed. A decision given by the supreme Court is considered final.

However, constitutional amendments can override the supreme court decisions.

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3 years ago
What is one benefit to using a debit card that is not a benefit of using a check to make a purchase?
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The major benefit of using the debit card is easy to carry.

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In accounting, the term debit card refers the payment card that deducts money directly from a consumer's checking account when it is used.

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Here we need to find the benefit of using the debit card over the check while making purchase.

We know that, the debit card payments allow you to complete transactions without having to fumble for cash, dig around in your purse or pockets for exact change, write out a check or go to an ATM.

Therefore, this tells that the card are easy to carry around and the purchase is paid and full without adding to debt.

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3 0
1 year ago
If each of two competing monopolists undertakes equally successful advertising efforts to attract consumers away from the other,
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Answer:

C. They will simply neutralize one another's effort.

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Neutralizing each others efforts is one of the market effects that happens when two monopolist tend to take same advertising effort; and this plays out to their disadvantage.

Another disadvantage in monopolistic competition is that companies in order to differentiate their products from other companies add irrelevant features and do not concentrate on improving the basic product which in turn results in consumers paying extra for added features but in reality that feature of product does not result in increase in consumer surplus.

8 0
3 years ago
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