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NNADVOKAT [17]
3 years ago
11

equired information [The following information applies to the questions displayed below.] Three different companies each purchas

ed trucks on January 1, 2018, for $50,000. Each truck was expected to last four years or 200,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 66,000 miles in 2018, 42,000 miles in 2019, 40,000 miles in 2020, and 60,000 miles in 2021. Each of the three companies earned $40,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes. Required Required a-1. Calculate the net income for 2018?
Business
1 answer:
Shkiper50 [21]3 years ago
6 0

Answer:

Check the explanation

Explanation:

the 2018 net income for company A, B and C

Company A:  

Depreciation expense  11250  =     (50000-5000)/4

Net income  28750  =   40000-11250

 

Company B:  

Depreciation expense  25000  =   50000*50%i.e 0.5

Net income  15000  = 40000-25000

 

Company C:  

Depreciation expense  14850 =(50000-5000)/200000*66000

Net income  25150 =40000-14850

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Sanders, Inc., paid a $4 dividend per share last year and is expected to continue to pay out 60% of its earnings as dividends fo
maks197457 [2]

Answer:

The price of the stock today is $42.94

Explanation:

The price of a stock whose dividends are expected to grow at a constant rate is calculated using the constant growth model of Dividend Discount model approach. It bases the price of the stock on the present value of the expected future dividends. The price today under this model is calculated as follows,

P0 = D0 * (1+g)  /  r - g

Where,

  • D0 * (1+g) is the D1 or the dividend for the next year
  • r is the required rate of return
  • g is the growth rate in dividends

P0 = 4 * (1+0.052)  /  (0.15 - 0.052)

P0 = $42.938 rounded off to $42.94

6 0
3 years ago
Pool line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we
attashe74 [19]

The answer is Pool Cleaning Systems. The relevant market product is Pool Cleaning System. It is engineered to clean the entire pool, including floors, steps, benches, even spas. Nozzles pop up consecutively to direct a power jet of water to direct debris towards the MDX-R3 drain.

8 0
3 years ago
Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory
Irina-Kira [14]

Answer:

Seemore Lens Company (SLC)

Journal Entries to correct the balances presently reported:

a) Debit Accounts payable $13,200  

Credit Inventory $13,200

To record lenses held on consignment.

b) Debit Office Supplies $6,600

Credit Inventory $6,600

To record office supplies.

c) Debit Inventory $9,600

Credit Cost of goods sold $9,600

To exclude from cost of goods sold lenses in the warehouse for January 2 delivery.

c) Debit Sales Revenue $18,200

Credit Accounts Receivable $18,200

To exclude from sales revenue lenses not yet sold.

d) Debit Cost of goods sold $3,800

Credit Inventory $3,800 (Scrap)

To record the cost of scrap.

Explanation:

a) Data and Analysis:

Reported Inventory = $86,000

Reported Cost of Goods Sold = $452,000

Transactions:

a) Accounts payable $13,200  Inventory $13,200

b) Office Supplies $6,600 Inventory $6,600

c) Inventory $9,600 Cost of goods sold $9,600

c) Sales Revenue $18,200 Accounts Receivable $18,200

d) Cost of goods sold $3,800 Inventory $3,800 (Scrap)

3 0
3 years ago
), AP At the end of its first year, the trial balance of Wolowitz Company shows Equipment $30,000 and zero balances in Accumulat
Sliva [168]

Based on the depreciation balances and the equipment, the adjustments to the T-accounts and the Balance sheet will be:

Date               Account title                                                Debit         Credit

December 31  Depreciation expense                           $3,750

                      Accumulated depreciation on                                    $3,750

                      equipment

                                                    T account

                                    Depreciation expense Equipment

                                                                    December 31                  $3,750

                                                 T account

                                   Accumulated Depreciation on Equipment

                                                                    December 31                  $3,750

                                             Balance sheet presentation

Assets

Property, Plant, and Equipment:

Equipment                                                            $30,000

Less: Accumulated depreciation                   <u>        ($3,750)         </u>

      Equipment (Net book value)                                                  <u>  $26,250</u>

<h3>What are the entries?</h3>

Depreciation of $3,750 will be debited to the depreciation expense account. The accumulated depreciation account will be credited by the same amount.

In the balance sheet, the equipment value will be reduced by the depreciation amount to $26,250.

Find out more on depreciation at brainly.com/question/1287985.

3 0
2 years ago
Supply chain management refers to a relatively new business phenomenon meaning:
inna [77]
The administration of upstream and downstream association's with providers and clients to convey better incentive at less cost than the inventory network all in all.
8 0
3 years ago
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