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4 years ago

Francine wants to become a school counselor. Which is the academic requirement for this career?

2 answers:

6 0

The academic career to become a school counsellor can be either bachelor in Psychology, Education or any other related field. This is because of these academic tracks deals and interacts with people. School counsellors need to be open and ready to interact with students, teachers and parents.

Evgen [1.6K]4 years ago

6 0

Answer:

Explanation:

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On January 1, 2020, Walker Inc. acquired equipment for $56,000. The expected useful life is 10 years and the residual value is $

Gnoma [55]

Answer:

$5488

$11,200

$9978.18

$4939.20

Explanation:

A. Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($56,000 - $1120) / 10 = $5488

Depreciation expense for each year of the useful life would be $5488

B. Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)

Depreciation factor = 2 x (1/10) = 1/5

1/5 x $56,000 = $11,200

C. Sum-of-the-year digits = (remaining useful life / sum of the years ) x (Cost of asset - Salvage value)

Sum of the years = 1 +2 +3 +4 + 5 + 6 + 7 + 8 + 9 + 10 = 55

Undepreciated life of the asset = 10

10/ 55 x ($56,000 - $1120) = $9,978.18

D. (hours used in year 1 / total number of hours of the machine) x (Cost of asset - Salvage value)

(1260 / 14,000) x ($56,000 - $1120) = $4939.20

3 0

3 years ago

If you have fully funded your 401(k) and profit-sharing plans up to the allowable limits, then you may want to put away more mon

jenyasd209 [6]

Answer:

annuity

Explanation:

Retirement annuities are helpful because they can guarantee a steady income during your retirement years. They can be either fixed retirement annuities (they provide a fix amount of money until you die) or variable annuities where the amount of money depends on how well your investments perform.

5 0

3 years ago

An asset (not an automobile) placed in service in June 2019 has a depreciable basis of $35,000 and a recovery period of 5 years.

maw [93]

Answer:

$35,000

Explanation:

The Tax Cuts and Jobs Act increased the percentage of bonus depreciation for qualifying assets from 50% to 100% for those assets acquired and put into service between September 27, 2017 and January 1, 2023. If this asset qualifies for a bonus depreciation, then you can depreciate 100% during the first year. You can also use the bonus depreciation with a section 179 expensing in order to depreciate expensive assets, but the section 179 expensing comes first and then the bonus depreciation.

7 0

4 years ago

When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the fi

vladimir2022 [97]

Answer:

When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the first year usually is determined by measuring Costs incurred in the first year, divided by estimated total costs for the completed project

Explanation:

The percentage of completion method of revenue recognition is a concept in accounting that refers to a method by which a business recognizes revenue on an ongoing basis depending on the stages of a project’s completion.

In other words, the percentage of completion method is used for longer-term projects and recognizes revenue and expenses as a percentage of the project’s completion during the period.

3 0

3 years ago

Grouper Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $675,803. The purchase agreeme

Maslowich

Answer:

The interest rate, to the nearest percent, used in discounting this purchase transaction 8%.

Explanation:

The interest rate can be calculated using the following RATE function in Excel:

Interest rate = RATE(nper,pmt,-pv,fv,type)*n .............(1)

Where;

nper = number of periods = number of years to maturity * number of semiannual in a year = 5 * 2 = 10

pmt = semiannual payments = $63,101 = 63101

pv = present value = fair value balance = fair value - immediate down payment = $675,803 - $164,000 = $511,803 = 511803

fv = future value = desired cash balance after last payment = 0

type = when payments are due (0 = end of period. 1 = beginning of period) = 0

n = number of compounding period per year = number of semiannual in a year = 2

Substituting the values into equation (1), we have:

Interest rate = RATE(10,63101,-511803,0,0)*2 .................. (2)

Inputting =RATE(10,63101,-511803,0,0)*2 into an excel sheet (Note: as done in the attached excel file), the Interest rate is obtained as 8.00%.

Therefore, the interest rate, to the nearest percent, used in discounting this purchase transaction 8%.

Download xlsx

6 0

3 years ago