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Blizzard [7]
3 years ago
7

On January​ 1, 2018, Tyson Manufacturing Corporation purchased a machine for​ $40,000,000. Tyson's management expects to use the

machine for​ 33,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is​ $47,000. The machine was used for​ 4,000 hours in 2018 and​ 5,500 hours in 2019. What is the depreciation expense for 2018 if the corporation uses the​ units-of-production method of​ depreciation? (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest​ dollar.)
Business
1 answer:
enyata [817]3 years ago
5 0

Answer:

$4,842,800.00

Explanation:

Units-of-production depreciation method calculates the amount to be deprecation depending on the asset usage for that period.

In this case, the total hours the asset is expected to work.

Cost of machine $ 40,000,000.00

Salvage value : $ 47,000.00

total hours machine should work: 33,000.00

Depreciable amount: = Cost price- salvage value

    =$40,000,000.00-$47,000.00

    =$39,953,000.00

Depreciation per hour= $39,953,000.00/33000

    =1,210.6969

    =1,210.70

Depreciation for 2018     =1210.7x4000

    =$4,842,800.00

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An organization that creates many products with similar characteristics, using assembly lines would most likely be categorized a
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Answer:

Continuous manufacturing organisation

Explanation:

Continuous production uses a production plant to manufacture a product continuously. It is also called continuous flow.

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2 years ago
Sandra Sousa, Registered Dietician Trial Balance July 31, 2018 Balance Account Title Debit Credit Cash 33000 Accounts Receivable
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Answer:

Requirement 1. Prepare the income statement for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Income Statement

For the Month Ended July 31, 2018

Service Revenue $11,258

Salaries Expense -$1,500

Rent Expense -$1,200

Utilities Expense -$350

Net income $8,208

Requirement 2. Prepare the statement of owners equity for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Statement of Owner's Equity

For the Month Ended July 31, 2018

Sousa, Capital balance July 1, 2018       $22,000

Investment during month                                  $0

<u>Net income                                                 $8,208</u>

subtotal                                                     $30,208

<u>Withdrawals during the month                -$2,000</u>

Sousa, Capital balance July 31, 2018     $28,208

Requirement 3. Prepare the balance sheet &s of July 31, 2018.

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Balance Sheet

For the Month Ended July 31, 2018

Assets:

Cash $33,000

Accounts Receivable $9,600

Office Supplies $2,200

Prepaid Insurance $2,800

Equipment $18,000

Total assets $65,600

Liabilities and equity:

Accounts Payable $3,100

Unearned Revenue $292

Notes Payable $34,000

Sousa, Capital $22,000

Retained earnings $6,208

Total liabilities and equity $65,600

Requirement 4. Calculate the debt ratio as of July 31, 2018.

debt ratio = liabilities / assets = $65,600 / $37,392 = 175.44%

debt to equity ratio = liabilities / equity = $37,392 / $28,208 = 132.56%

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3 years ago
In the early days of book publishing, publishers functioned as:
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A program trade is:_________. A. a trade of 10,000 (or more) shares of a stock. B. a trade of many shares of one stock for one o
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Answer:

The answer is: D

Explanation:

Program trading is the use of computer programs or algorithms to trade a portfolio of stocks at a high frequency and in large numbers. These algorithms, essentially 'machine traders', are created  to make trades on behalf of humans and are anticipated to have more precision and speed than human traders. However, these trades are created, monitored and analysed by human traders. The New York Stock Exchange classifies the coordinated trading of a group of 15 or more stocks with a combined market value of $1, 000, 000 as program trading.

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3 years ago
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