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Allushta [10]
3 years ago
8

Peavey enterprises purchased a depreciable asset for $28,500 on april 1, year 1. the asset will be depreciated using the straigh

t-line method over its four-year useful life. assuming the asset's salvage value is $3,300, what will be the amount of accumulated depreciation on this asset on december 31, year 3? $6,300 $25,200 $5,250 $21,000 $17,325
Business
1 answer:
ddd [48]3 years ago
4 0
<span>Answer is $17,325. Since the salvage value of the asset after its four years of useful life is $3,300 while its current purchase value is $28,500; we need to depreciate the difference over 4 years. That us $25,200 to be depreciated over 4 years using a straight line method. At December 31 of year 3, the asset will be 2.75 years old(2 years, 9 months). Hence the accumulated depreciation is $25,500*(2.75/4). This is $17,325.</span>
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which of these is not true regarding the special function performed by the external auditing profession?
Vladimir79 [104]

<u>It serves the interests of client management rather than the public.</u>

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"The special function helps ensure the reliability and integrity of the financial reporting system. The auditing profession exists to serve the users of an organization's financial statements. Auditors need to remember that they are serving the public interest and not necessarily the interests of client management."

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1 year ago
Sink and Tap Inc. is looking at a 4-year project for making taps. Initial investment in equipment will be $754,000. Each unit wi
podryga [215]

Answer:

the present value break-even point in units per yea is 4680 units. the option (d) is correct

Explanation:

Solution

Given that:

The initial cash flow = $754,000

The project life is  = four years

Thus,

Contribution = sales - variable costs

So,

Sales = quantity * the price

Let the Quantity be Y

$230 Y - $102.40 Y

=127.60 Y

Now,

The operating income = Contribution -fixed costs

which is,

127. 60 Y- (Other depreciation or decrease + decrease)

127. 60 Y- ( $333,000 + ($754,000/4))

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Thus,

127. 60 Y - $521, 500

Now,

Tax rate at 21% on operating income is =26.796 Y - 109. 515

The profit after tax = operating income - tax

(127. 60 Y - $521, 500) -(26.796 Y - 109. 515)

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The operating cash inflow per year = 100.804 Y - 411, 985 +  $188, 500

Thus,

The PVAF for 12 years , 4% = 3.037349

PV of operational cash inflow = 306.18 Y - 678, 802.02

However,

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So,

306.18 Y  - 678, 802.02 =$ 754,400

306.18 Y = 1, 432, 802.02

Y = 4680 Units

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