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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

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A bond sale is a debt investment that is given by an investor to a particular corporate or governmental entity and is payable over a period of time at a variable or a fixed interest rate. It can affect the money supply, or the money of the country, because it encourages debtors to keep loaning from the government to finance their personal interests.
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3 years ago
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"You plan on saving money for retirement in 30 years (t=30) at which time, you wish to have saved $1,000,000. In order to do thi
MissTica

Answer:

<u>X= $15,692.9393</u>

Explanation:

Giving the following information:

Number of years= 30

Final value= 1,000,000

First, deposit $10000 for ten years (last deposit at t=10).

After ten years, you deposit X for 20 years until t=30.

i= 6%

First, we need to calculate the final value in t=10. We are going to use the following formula:

FV= {A*[(1+i)^t-1]}/i

FV= {10000*[(1.06^10)-1]}/0.06= $131807.9494

We can calculate the amount of money to input every year. We need to isolate A:

A= (FV*i)/[(1+i)^n-1]

First, we need to calculate the final value of the $131807.9494

FV= PV*[(1+i)^n]

FV= 131807.9494*1.06)^20= 422725.95

We need (1000000-4227725.95) $577274.05 to reache $1000000

A= (FV*i)/[(1+i)^n-1]

A= (577274.05*0.06)/[(1.06^20)-1]= 15692.9393

<u>X= $15,692.9393</u>

6 0
3 years ago
Price ceilings may be imposed if: A. suppliers can make strong moral or political arguments for higher prices. B. demanders can
Nat2105 [25]

Answer:

C. Demanders can make strong moral or political arguments for lower prices.

Explanation:

This explained as a legal price limit set by the government on the sellers in a way to be a protection means to the buyers. This will general control some serial hike and outrageous price on some goods and services.

Its effects are of different types; firstly, price ceiling can create huge market efficiencies in a long run and also causes hoarding of products and springing up of black markets and other hook and crook forms of marketing and this is known to cause unrest in the supply side. When these keeps pulling on, it has a negative effect on the economy of the said nation.

6 0
3 years ago
A. Given the historical cost of product Z is $20, the selling price of product Z is $25, costs to sell product Z are $3, the rep
Vlada [557]

Answer:

1.

c. $21

2.

b. $20

Explanation:

1.

In lower-of-cost-or-market comparison, the cost of the product and the realizable value of the product are compared and lower is used to value the available inventory.

In the given Scenario the realizable value of product Z is the recoverable value of the product.

Hence The replacement value of $21 should be used in the lower-of-cost-or-market comparison.

2.

Calculate the net recoverable value for the product Z

Net recoverable value = Selling price of product Z - Cost to sell product Z

Net recoverable value = $25 - $3 = $22

Now by comparing the cost and net realizable value the lower value is cost of $20.

Hence $20 will be used in order to value the inventory.

6 0
3 years ago
Compared to those in low-income countries, the residents of countries with high per person incomes nearly alwaysa. live longer.b
Sedaia [141]

Answer:

The correct answer is the option D: all of the above.

Explanation:

On one hand, a <em>low income country</em> is the type of country whose economy is poor mostly. It is characterized by the fact that it has no industry and most of its population has not enough money to make a good living.

On the other hand, a <em>high per person income country</em> is the concept used to refer to the whole opposite situation, in which <em>most of the people has enough money to make a good living</em> and also the majority of them are happy with that style of living due to the fact that the economy is doing well. Therefore that <em>in this type of country is where the citizens have more advantages</em>, including both<em> lower infant mortality rate</em> and <em>lower illiteracy rate</em> as well too. In addition, is in those countries where the <em>people live longer</em> because there are better health condition to live, including better medication, doctors, etc.

6 0
3 years ago
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