Answer:
The correct answer is (a) $41,800.
Explanation:
Solution:
Given that:
The first step taken is to calculate for depreciation on sold equipment:
Amount($)
Accumulated depreciation in Year -1 (a) = 540000
Depreciation for the year 2 (b) = 48000
Accumulated depreciation to be in year 2 c=(a+b)=588000
Reported accumulated depreciation in year 2(d)=460000
Thus,
Depreciation on sold Equipment e= (c-d) = 128000
Now,
The second step is to calculate sale proceeds:
Cost (a)= 164000
Depreciation(b) =128000
The written dawn value c=(a-b) = 36000
Gain on sale of equipment (d)=5800
The Sale Price (c+d)=41800
Therefore, the sale of the equipment is $41,800
Answer:
The accrued interest payable on December 31, 2017 is $15,453.33.
Explanation:
When Mura Company signs a 90-day, 12% note payable the entries are as follows :
Cash $190,000 (debit)
Note Payable $190,000 (credit)
On December 31, 2017 when Interest acrues on the loan the entries are as follows :
<em>Note : Two months interest or 61 days interest would have expired</em>
Interest Expense $15,453.33 (debit)
Note Payable $15,453.33 (credit)
Interest expense = $190,000 × 12% × 61/90
= $15,453.33
Conclusion :
The accrued interest payable on December 31, 2017 is $15,453.33.
Answer:
A) Eliminating brick and mortar locations and offering delivery from central kitchens
Explanation:
Usually the highest overhead cost of any restaurant is its actual brick and mortar location. The place itself requires the highest investment and absorbs most of the costs.
By eliminating the actual restaurants, the company will be able to cut most of its overhead costs and basically the largest portion of total costs. By reducing most of their costs, Backyard will be able to sell top-quality barbecue at a much lower cost and gain a competitive advantage.
Answer:
Yes, If not more important than the internal post-project meetings.
Explanation:
The end of the execution phase of a project is not actually the completion of a project because there must be verification by both the executioner company and the customer or sponsor who awarded the project.
The verification of whether the execution of the project was done according to pre-execution standards set in the project planning phase in terms of 'project scope' 'project time' and 'project cost' will have to be done by the company as a way of self-assessment but ultimately by the sponsor. It is arguable that the sponsor is the stronger voice in the project execution assessment stage because 'he who pays the piper dictates the tune'.
The reasons why such post-project evaluation meeting with the customer is important is that:
1. Project Scope: The customer has to certify that the benefits to be delivered by the project are actually been delivered, which is the reason why the project was awarded in the first instance.
2. Project Time: The customer will have to agree that the project has been carried out within the agreed time-frame, and there will be no penalties for delay in execution of the project. Penalties for time-delay in project execution could carry significant consequences as the customer could trigger the liquidated damages clause in the contract.
Project Cost: Another point of consideration is whether or not the project has been done within budget.
All of these considerations have to be made between both parties before a successful project handover.
