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Stolb23 [73]
3 years ago
6

Nimo Co. purchased a machine for $12,000 and estimates it will use the machine for five-years with a $2,000 salvage value. Using

the double declining-balance depreciation method, compute the machine's first year depreciation expense.
Business
1 answer:
Gala2k [10]3 years ago
3 0

Answer:

$4800

Explanation:

Double declining deprecation method is when the deprecation expense of an asset is accelerated by 2. Depreciation is a method of expensing the cost of an asset.

In calculating depreciation expense using the double declining method , salvage value isn't used.

The formula:

2/ number of years ×(net book value)

2/5 × ($12,000) = $4800

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Eaton Tires manufactures tires for dune buggies and has two different products, nubby tires and smooth tires. The company produc
saw5 [17]

Answer:

Materials handling= $60 per requisition

Machine setups= $110 per setup

Quality inspections= $95 per inspection

Explanation:

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

<u></u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Materials handling= 60,000/1,000= $60 per requisition

Machine setups= 55,000/500= $110 per setup

Quality inspections= 57,000/600= $95 per inspection

4 0
4 years ago
Leaders have the duty and responsibility to plan in advance for all foreseeable situations and circumstances for all activities.
iren [92.7K]

Answer:

True

Explanation:

It is responsibility and duty of leaders to know about all circumstances and situations , Leaders needs to plan before any bad things happen to Company. If he did not do such thing , may be failure outcome happen.

8 0
3 years ago
What is the primary purpose of a mission statement?
natka813 [3]
Its c good luck and hope that helps 
3 0
3 years ago
Smith Jones Inc.'s stockholders are mostly individual investors, and there is relatively little institutional ownership. If seve
Anastasy [175]

Answer:

Small individual investors will benefit the most.

Explanation:

From the case given, it can be established that small individual investors represent the bulk of shareholders or business owners.

Also, from Smith Jones stock, we see that Pension and Mutual Fund constitute a bulk in the share position, and the direct intervention of shareholders motivate the management.

From the foregoing analysis, the shareholders holders have thus seek to incorporate corporate governance in the organization as a tool to reduce the agency problem between business owners and management. By this, management objectives and the shareholders could be aligned. The business owners singular objective is the profit maximization of their wealth, while the management is interested in their job security, status, mutual funds, pension and all. Since this objective of management has been duly taken care of by the shareholders, it is believer that this will boost the management morale and ultimately improve their performance. The result is thus increase in organisational performance with resultant growth in profit, share price and returns from the business. These are benefits to the individual investors.

6 0
3 years ago
The Allowance for Bad Debts account has a credit balance of $2,000 before the adjusting entry for bad debts expense. The company
harina [27]

Answer:

$10,000

Explanation:

Net Credit Sales              $250,000

Allowance for Doubtful Accounts $250,000*4%=$10,000

Bad Debt Expense   will be $10,000

Bad Debt Expense Dr.$10,000

Allowance for Uncollectible  Cr.$10,000

6 0
3 years ago
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