1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lora16 [44]
3 years ago
7

On January 1, 2019, Upward Company purchased a copy machine. The machine costs $320,000, its estimated useful life is 8 years, a

nd its expected salvage value is $20,000. What is the depreciation expense for 2020 using double-declining-balance method
Business
1 answer:
qwelly [4]3 years ago
6 0

Answer:

$60,000

Explanation:

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

Depreciation factor = 2 x (1/useful life) = 2 / 8 = 0.25

Depreciation expense in 2019 = 0.25 x $320,000 = $80,000

Book value at the beginning of 2020 = $320,000 - $80,000 = $240,000

Depreciation expense in 2020 = 0.25 x $240,000 = $60,000

I hope my answer helps you

You might be interested in
Which document should a job seeker send with a résumé to a potential employer?
anygoal [31]

Answer:

c). cover letter

Explanation:

A cover letter is a formal letter or document that a job seeker sends to a potential employer together with a resume. The letter details the positions that the vacant applicant seeks to fill. The cover letter or job application letter accords the applicant the opportunity to market themselves to the employer.

In the cover letter, a job seeker states why they are the best candidate for the position. Applicants use the cover letter to convince the employer to hire them.

6 0
3 years ago
Read 2 more answers
Suppose you are interested in studying whether scent affects spatial reasoning abilities. You decide to test spatial reasoning u
Brilliant_brown [7]

Answer: 1. c. There are no differences in the mean completion times among the scents compared

2. Scent; Completion Time

Explanation:

The Null Hypothesis of a research is that hypothesis which you aim to disprove because it holds that no significant relationship between the variables being researched exists.

In this scenario you are studying whether scent affects spatial reasoning abilities.

The Null Hypothesis will.be that which states that there is no relationship between scent and spartial reasoning therefore there will be no differences in the mean completion times among the scents compared.

The factor of interest is the variable that is being changed to examine a difference making it the SCENT in this scenario.

The dependent variable changes due to the Factor of Interest so it is the COMPLETION TIME.

6 0
3 years ago
At the end of the year, a company has a balance in Allowance for Uncollectible Accounts of $2,200 (credit) before any year-end a
Lapatulllka [165]

Answer: Debit Bad debt expense $7,300; Credit Allowance for doubtful accounts $7,300.

Explanation: 5% of accounts receivable of $190,000 is $9,500. Remember the credit balance in Allowance for uncollectible accounts is $2,200 prior to any adjustment and this reports to the balance sheet. To reinstate this account to the required provision for uncollectible amount of $9,500, we need to adjust for the difference (that is, $9,500 minus $2,200 existing balance), which is $7,300. <u>Then, the entries above would be recorded. </u>

<u />

3 0
3 years ago
Why are certain crime losses, such as the theft of furs and jewelry, a more difficult exposure to insure than fire loss?
a_sh-v [17]

Answer:

It is very simple, if your house burns down, the evidence is there. All you need to do it look at a house that burnt down either completely or partially, but its easy to verify.

On the other hand, if you report that a necklace was stolen, it is really difficult to verify. Unless it is a unique jewel that is worth a ton of money, you could have simply given it away as a gift and then report it as stolen. The opportunities for insurance fraud are many when dealing with jewelry or other valuable objects that can be moved around easily.

The second question about different grants of authority refer to the organizational structure of a company. E.g. a salesperson in Best Buy is able to sell any item or items to regular customers. But sometimes a large order comes and the company must decide whether to discount the price or not, and then management kicks in and decides. The same happens to insurance agents. A company decides that some agents deal with policies that involve X amount of risk. If the level of risk is higher, they must work with other agents that are authorized to deal with high risk policies. It is basically a clearance level where employees are authorized up to this amount, and above that amount, other employees must be involved.

5 0
3 years ago
Q 8.2: On June 15th, Buehler Company sells merchandise on account to Chaz Co. for $1,000, terms 2/10, n/30. On June 20th, Chaz C
densk [106]

Answer:

The amount received in cash is $686

Explanation:

The amount which is received in cash is computed as:

On June 20, the amount of $300 goods returns from customer, so the remaining balance is

= $1,000 - $300

= $700

On the remaining balance, the discount which is evaluated as the payment is received within the discount period which is June 24. So,

= $700 x  (100% - 2%)

= $ 700 x  98%

= $ 686

5 0
3 years ago
Other questions:
  • A retail outlet for calculators sells 700 calculators per year. it costs ​$2 to store one calculator for a year. to​ reorder, th
    12·2 answers
  • Is the process of planning, scheduling, and then controlling the activities during system development?
    6·1 answer
  • You work for a pharmaceutical company that has developed a new drug. The patent on the drug will last 1717 years. You expect tha
    10·1 answer
  • The first step of the financial planning process is to: A. develop financial goals. B. implement the financial plan. C. analyze
    6·2 answers
  • Armando, a manager for Petros Pizza Pies (PPP), dies in an accident on July 12. PPP pays his wife, Penelope, $600 in salary that
    11·1 answer
  • Stanley hart invested in a municipal bond that promised an annual yield of 6.7 percent. the bond pays coupons twice a year. what
    10·1 answer
  • Holo Company reported the following financial numbers for one of its divisions for the year; average total assets of $5,800,000;
    15·1 answer
  • Albert was wanting to save some money on his vacation, so he brought food and soft drinks with him to the airport to eat on the
    12·1 answer
  • In the United States, personal success and professional achievement are important motivators, and promotions and increased earni
    14·1 answer
  • For a college student who needs to buy an $80 textbook, the money she received from her parents for the purchase of school suppl
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!