Answer:
Annual depreciation= $12,970
Explanation:
Giving the following information:
Kansas Enterprises purchased equipment for $72,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,650 at the end of five years.
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (72,500 - 7,650)/5
Annual depreciation= $12,970
Answer: positive
Explanation:
The real gross domestic product refers to the value of the output in an economy which has been adjusted for price changes.
There's a positive relationship between the real GDP and tax revenues. This can be used to explain deficit spending during a recession. When there's recession, there'll be a reduction in the output and consumption in the economy. At this point, there'll be a reduction in GDP.
Answer:
The correct answer is debit accounts receivable, credit cash.
Explanation:
Note debit is a receipt that a company sends to its client, in which it is notified that it has charged or debited a certain sum or value in its account, for the concept indicated in the same note. This document increases the value of the debt or account balance, whether due to an error in billing, interest for late payment, or any other circumstance that means an increase in the balance of an account.
Answer:
Equilibrium price = $6
Total quantity in the market would be > 400 units ( unchanged )
Explanation:
Applying small=country model
world price of product = $6
import quota = 400 units
The Equilibrium price in Marketopia would be $6 and the total quantity available in Marketopia would > 400 units
This is because in a small country assumption model, the total imports made by any country is insignificant to the Total quantity of the products available in the market therefore it has no effect on the price of the products even if when the imports are stopped by the country
Answer:
$50.57 ; $175,573.6
Explanation:
The computation of the fixed and variable portions of overhead costs based on machine-hours using high low method is shown below:
Variable cost per hour = (High Overhead cost - low overhead cost) ÷ (High machine hours - low service hours)
= ($581,145 - $503,775) ÷ (8,020 hours - 6,490 hours)
= $77,370 ÷ 1,530 hours
= $50.57
Now the fixed cost equal to
= High overhead cost - (High machine hours × Variable cost per hour)
= $581,145 - (8,020 hours × $50.57)
= $581,145 - $405,571.4
= $175,573.60
