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lord [1]
3 years ago
10

On July 1, 2019, Cullumber Company purchased new equipment for $85,000. Its estimated useful life was 5 years with a $12,000 sal

vage value.
On December 31, 2022, the company estimated that the equipment’s remaining useful life was 10 years, with a revised salvage value of $5,000.Compute the revised annual depreciation on December 31, 2022.

Revised annual depreciation $__________________
Business
1 answer:
MariettaO [177]3 years ago
4 0

Answer:

$3620

Explanation:

Assuming that the equipment depreciates with straight-line depreciation,

Initial Annual Depreciation = ($85,000 - $12,000)/5 = $14,600/year

NBV of equipment at December 30, 2022 = $85,000 - ($14,600*3) = $41,200

Revised Annual Depreciation = ($41,200 - $5,000)/10 = $3620/year

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Walter wants to deposit $1,500 into a certificate of deposit at the end of each ofthe next 6 years. The deposits will earn 5 per
polet [3.4K]

Answer:

  $10,202.87

Explanation:

The balance will be the sum of a 6-term geometric sequence with first term 1500 and common ratio 1.05. The sum of such a sequence is given by ...

  sn = a1(r^n -1)/(r -1)

We have a1=1500, r=1.05, n=6, so the sum is ...

  s6 = 1500(1.05^6 -1)/(1.05 -1) = 10,202.87

Walter's account balance after the 6th deposit will be $10,202.87.

6 0
3 years ago
Elaborate prefect competition
wolverine [178]
I need more information for this question
7 0
4 years ago
The Petit Chef Co. has 10.8 percent coupon bonds on the market with eight years left to maturity. The bonds make annual payments
Fantom [35]

Answer:

The yield to maturity is 8.50%

Explanation:

The computation of the  yield to maturity is shown below:

Given that

NPER = 8

PMT = $1,000 × 10.8% = $108

PV = $1,129.70

FV = $1,000

The formula is shown below:

= RATE(NPER,PMT,-PV,fV)

After applying the above formula, the yield to maturity is 8.50%

And, the same is to be considered

hence, the yield to maturity is 8.50%

6 0
3 years ago
Assume that Horicon Corp acquired 25% of the common stock of Sheboygan Corp. on January 1 for $300,000. During the year Sheboyga
Misha Larkins [42]

Answer:

Option C. Debit Cash and credit Stock Investments

Explanation:

The reason is that in the equity method of recording the dividends receipts, it is always deducted from the stock investment and the relevant share of reported net income of the associate is added to the stock investment.

So mathematically,

Stock Investment Under Equity Method = Opening Value for the year + Share of Net Income - Dividend received

Stock Investment Under Equity Method = $300,000 + $160,000 * 25% + $60,000 * 25% = $325,000

The above treatment shows that the recording of dividends include credit to stock investment and the cash receipt is always debited.

So the double entry would be:

Dr Cash $15,000

Cr Dividends $15,000

So the option C is correct.

3 0
4 years ago
The goal of this exercise is to demonstrate your understanding of the total logistic cost factors, which are expenses to be mini
brilliants [131]

Answer and Explanation:

Stockouts logistics cost factor-

Safeway,

Kmart

Transportation logistics cost factor-

Hyundai,

Ford

Inventory logistics cost factor-

Toyota,

Frito Lay

Return goods handling logistics cost factor-

Phillips,

Costco

Warehousing and materials handling logistics cost factor -

Coca Cola,

Walgreens

Order processing logistics cost factor-

SC Johnson,

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logistics cost factors are cost factors associated with logistics ( concerned with acquisition, storage and transportation ofresources) based on the kind of business or kind of products or services a company is into. From the above we see that logistics cost factors vary as the companies are into different products or services and industries and therefore face different logistics costs associated with their production and or delivery. Every company aims to achieve logistics efficiency through minimizing costs associated with their logistics costs factors example Hyundai with transportation logistics cost factors would aim to reduce it's logistics cost factors and maximise profits by its locating it's manufacturing plant close to where it imports parts for it's vehicle manufacturing so as to reduce cost of transporting vehicle parts to manufacturing plant

7 0
3 years ago
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