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3 years ago

Classify each of the following financial statement items based upon the major balance sheet classifications.

Business

1 answer:

Naya [18.7K]3 years ago

7 0

Answer and Explanation:

The classification is as follows

a. Current assets

b. Property, Plant. and Equipment

c. Intangible Assets

d. Current Liabilities

e. Current Liabilities

f. Stockholders' Equity

g. Current Assets

h. Long-term Investments

i. Intangible Assets

j. long term Liabilities

k. Stockholders' Equity

l. Property, Plant. and Equipment

m. Current Liabilities

n. Current Assets

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Perdue Company purchased equipment on April 1, 2014, for $270,000. The equipment was expected to have a useful life of three yea

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Answer:

Straight line:

2014 $ 65,250

2015 $ 87,000

2016 $ 87,000

2017 $ 21,750

units-of-output method:

2014 $ 108,750

2015 $ 79,750

2016 $ 58,000

2017 $ 14,500

dobule declining method

2014 135,000

2015 45,000

2016 15,000

2017 9,000

Explanation:

Straight line:

(cost - salvage value) / useful life

(270,000 - 9,000)/3 = 87,000 per complete year

First year: from April 1st to December 31th

87,000 x 9/12 = 65,250

Second and third year are complete year thus, 87,000

fourth year: from Jan 1st to March 31th:

87,000 x 3/12 = 21,750

units-of-output method:

(cost - salvage value) / unit of output

261,000 / 18,000 = 14.5 per hour

We multiply each year hours by this rate

7,500 x 14.5 = 108,750

5,500x 14.5 = 79,750

4,000x 14.5 = 58,000

1,000 x 14.5 = 14,500

double declining

we multiply by twice the rate of of straight line:

1/3 x 2 = 2/3 we depreciate this amount of the carrying vbalue per year

Last year we adjust to obtain the residual value

Year Beginning Rate Dep expense Carrying value

2014 270,000 0.50 135,000 135,000

2015 135,000 0.67 90,000 45,000

2016 45,000 0.67 30,000 15,000

2017 15,000 6,000 9,000

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3 years ago

Suppose the economy is currently in long-run equilibrium. The government has just decided to lower income taxes. The long-run im

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Answer:

Slower economic growth

Explanation:

Increasing tax rates can generally and obviously discourage

work because corporations will pay more,

savings, because people earn lesser disposable income,

investment, because firms have lesser profit by paying bigger taxes,

Although specific tax adjustments for certain income categories can assist with the reallocation of economic resources.

But in the long-run economic growth will be slowed down by tax cuts because it will increase deficits by lesser funds being generated for the government over time

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3 years ago

What particular business conditions and/or strategy might make telling or not telling the more advantageous option?

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4 everyday business-level strategies emerge from those choices: (1) huge cost management, (2) wide differentiation, (three) targeted cost leadership, and (four) centered differentiation. In rare cases, companies are able to provide both low costs and particular capabilities that customers discover acceptable.

Put clearly, business strategy is a clear set of plans, actions and desires that outlines how a commercial enterprise will compete in a selected market, or markets, with a product or number of products or services.

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2 years ago

According to classical macroeconomic theory, changes in the money supply affect:a. variables measured in terms of money and vari

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Answer: The correct answer is " b. variables measured in terms of money but not variables measured in terms of quantities or relative price".

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3 years ago

Which work measurement technique breaks down tasks into a series of generic micromotions?

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Given that the technique breaks down into a series of generic micromotions.

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Hence the measurement technique breaks down tasks into a series of generic micromotions is predetermined data approach.

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2 years ago