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Lubov Fominskaja [6]
3 years ago
8

On October 1, 2014, Mann Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life

and $20,000 salvage value at the end of its useful life. What is the depreciation expense for 2014 if Mann Company uses the straight-line method of depreciation?a. $3,000.b. $16,000.c. $4,000.d. $8,000.
Business
1 answer:
Lelu [443]3 years ago
3 0

Answer:

The correct answer is A.

Explanation:

Giving the following information:

On October 1, 2014, Mann Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life and $20,000 salvage value at the end of its useful life.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= 60,000/5=12,000

3 months depreciation= 12,000/12*3= 3,000

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Answer:

C) Positive

Explanation:

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Thus, in the provided scenario, option c is right, as it does not satisfy all other options available

So the right option is c.postive

4 0
3 years ago
Edna Recording Studios, Inc., reported earnings available to common stock of $4,200,000 last year. From those earnings, the com­
kicyunya [14]

Answer:

Cost of retained earnings

= <u>Do(1 + g)</u>   + g

      Po

= $1.26<u>(1 + 0.06)</u>   + 0.06

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Explanation:

Cost of retained earnings is equal to current dividend paid subject to growth rate divided by the current market price of common stock plus growth rate

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3 years ago
What kind of inventory tracking system shows the cost and gross profit margin in each item?
amm1812

The gross profit method is an inventory tracking system that shows the cost and gross profit margin on each time. The gross profit method allows a company to see how much money they would profit from their inventory on hand after they subtract the cost of good solve (COGS). Businesses can choose to do this daily, weekly, monthly or yearly depending on their business and accounting/book keeping needs. Each type of business has periods and those periods are what mades them stay on track with accounting.

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A type of vertical bar chart in which the categories are plotted in the descending rank order of the magnitude of their frequenc
FrozenT [24]

A contingency table consists of a double entry table with rows and columns in which the categories are plotted in descending order of the magnitude of their frequencies.

<h3>What is a contingency table?</h3>

They are frequency tables in which data from two qualitative variables are recorded and the relationship between them is analysed.

In these tables, the rows represent the categories of one variable and the columns the categories of the other variable or characteristic under study.

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Therefore, we can conclude that a contingency table consists of a double entry table with rows and columns in which the categories are plotted in descending order of the magnitude of their frequencies.

Learn more about contingency tables here: brainly.com/question/5492865

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2 years ago
Nicole and her team of skillful systems analysts have been hired to create a database system for an educational software package
zhuklara [117]

Answer:

True.

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