Answer:
The remaining useful life of the plant asset is 2 years.
Explanation:
The depreciable cost of the asset is 44000 - 10000 = $34000
The straight line method charges a constant depreciation expense per year over the estimated useful life of the asset.
The depreciation expense per year is $3400.
The formula for straight line depreciation is,
Depreciation expense per year = (Cost - residual value) / estimated useful life
3400 = (44000 - 10000) / estimated useful life
3400 = 34000 / estimated useful life
Estimated useful life = 34000 / 3400 = 10 years
The accumulated depreciation has been charged for the amount of $27200. This represents a depreciation for 8 years.
27200 / 3400 = 8 years
Thus, the remaining useful life of the plant asset is 10 - 8 = 2 years
Answer:
$240,000
Explanation:
cost of direct materials used = beginning materials (September 1 inventory) + purchases - ending materials (September 30 inventory) = $140,000 + $210,000 - $110,000 = $240,000
Direct materials are the raw materials, parts, components and supplies directly consumed during the manufacturing process.
If JJ camera does not accommodate Meg's needs, and she is otherwise qualified for the job, JJ camera must demonstrate that the accommodations would create (a) UNDUE HARDSHIP for the company.
Undue hardship refers to an action that will lead to increase in expense or difficulty on company or the employer. It is an accommodating action. It is not necessary for an employer to accommodate an undue hardship. If the company needs to accommodate an undue hardship, it should look for some other accommodation that does not impose such hardship on the company.
Answer:
19%
Explanation:
The market risk premium is 9%
The risk free rate of return is 3.7%
General motors have a beta of 1.7
Therefore, using the capital asset pticing model the expected return can be calculated as follows
= 3.7% + 1.7×9%
= 3.7% + 15.3%
= 19%
Hence the expected return is 19%
Accounting cycle refers to the process of accounting in which we firstly analyse a transaction and then we journalize it and then the accounting record for the transactions that will occur in the next period is prepared
Explanation:
<u>Following are the Steps(rearranged) in the Accounting Cycle</u>
- Transactions are analyzed and recorded in the journal.
- Transactions are posted to the ledger.
- An unadjusted trial balance is prepared.
- Adjustment data are assembled and analyzed.
- An optional end of period spreadsheet is prepared.
- Adjusting entries are journalized and posted to the ledger.
- An adjusted trial balance is prepared.
- Financial statements are prepared.
- Closing entries are journalized and posted to the ledger.
- A post-closing trial balance is prepared.