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jarptica [38.1K]
3 years ago
12

Xinhong Company is considering replacing one of its manufacturing machines. The machine has a book value of $45,000 and a remain

ing useful life of five years, at which time its salvage value will be zero. It has a current market value of $52,000. Variable manufacturing costs are $36,000 per year for this machine. Information on two alternative replacement machines follows. Should Xinhong keep or replace its manufacturing machine? If the machine should be replaced, which alternative new machine should Xinhong purchase?
Alterantive A Alternative B
Cost $115,000 $125,000
Variable manufacturing 19,000 15,000
costs per year

Business
1 answer:
dimulka [17.4K]3 years ago
5 0

Answer:

Please see attachment

Explanation:

Please see attachment

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Preparing journal entries-outputs Hartley Company has a production process that involves three processes. Units move through the
Blababa [14]

Answer:

(It is assume that completed unit have been transferred to next department)

The jounal entries for each transaction is given below.

Cost of units completed in the Cutting Department, $17,000

Debit WIP stamping Dept         $ 17,000

Credit WIP cutting Dept            $ 17,000

Cost of units completed in the Stamping Department, $30,000

Debit WIP polishing Dept              $ 30,000

Credit WIP stamping Dept            $ 30,000

Cost of units completed in the Polishing Department, $35,000

Debit Finished good                     $ 35,000

Credit WIP polishing Dept            $ 35,000

Sales on account, $50,000

Debit GOGS                          $ 40,000

Credit Finished good           $ 40,000

Debit Receivable Account   $ 50,000

Credit Sales                          $ 50,000

6 0
3 years ago
Read 2 more answers
the five mission areas outlined in the national response framework are prevention, protection, mitigation, response, and _______
IgorLugansk [536]

Answer:

recovery

Explanation:

There is one framework for each of the five mission areas wich are Prevention,protection, mitigation,response, and Recovery

Hope this helped you!

8 0
2 years ago
on its advertisement, a company claims that it has funds in its possession that are in fact not available for payment of losses
MatroZZZ [7]

Answer:

Misrepresentation.

Explanation:

In this scenario, on its advertisement, a company claims that it has funds in its possession that are in fact not available for payment of losses or claims. The company is guilty of misrepresentation.

Misrepresentation can be defined as an untrue or misleading statement of fact made by a party to an individual or group of people to deceitfully lure or induce them to go into a contract. A company stating in its advert that it has funds in its possession but in the true sense or actual fact do not have the funds for payment of losses or claims; such a company is engaging in a fraudulent act and is liable to prosecution in any court of competent jurisdiction.

8 0
3 years ago
Under current accounting practice, intangible assets are classified as specifically identifiable or goodwill-type. limited-life
MArishka [77]

Correct Question: Under current accounting practice, intangible assets are classified as

a. amortizable or unamortizable.

b. limited-life or indefinite-life.

c. specifically identifiable or goodwill-type.

d. legally restricted or goodwill-type.

Answer:

B, limited-life or indefinite-life

Explanation:

By defiinition, Intangible assests are assests that cannot be physically felt. it can also be said to be assets that are non physical in nature. This kind of assets include goodwill, image rights,brand recognition, copyrights, etc.

All of the above examples of assets are deemed intangible because they have no exact expiry or end date. It can either last for a long time or a short time. Assets like reputation are classified as intangible because it cant be felt and it doesnt have an exact end date. It is therefore a kind of asset that has limited-life or indefinite-life.

Cheers.

4 0
3 years ago
Serotta Corporation is planning to issue bonds with a face value of $450,000 and a coupon rate of 16 percent. The bonds mature i
Brrunno [24]

Answer:

1. Dr Cash 481,588.61

    Cr Bonds payable 450,000

    Cr Premium on bonds payable 31,588.61

2. March 31

Dr Interest expense 14,447.66

Dr Premium on bonds payable 3,552.34

    Cr Cash 18,000

June 30

Dr Interest expense 14,341.09

Dr Premium on bonds payable 3,658.91

    Cr Cash 18,000

September 30

Dr Interest expense 14,231.32

Dr Premium on bonds payable 3,768.68

    Cr Cash 18,000

December 31

Dr Interest expense 14,118.26

Dr Premium on bonds payable 3,881.74

    Cr Cash 18,000

3. carrying value = $466,726.94

Explanation:

face value = $450,000

maturity = 2 years x 4 = 8 periods

coupon rate = 16% / 4 = 4%

coupon = $18,000

YTM = 12% / 4 = 3%

using a financial calculator, the PV of the bonds = $481,588.61

amortization first coupon = ($481,588.61 x 3%) - $18,000 = $3,552.34

Dr Interest expense 14,447.66

Dr Premium on bonds payable 3,552.34

    Cr Cash 18,000

   

amortization second coupon = ($478,036.27 x 3%) - $18,000 = $3,658.91

Dr Interest expense 14,341.09

Dr Premium on bonds payable 3,658.91

    Cr Cash 18,000

amortization third coupon = ($474,377.36 x 3%) - $18,000 = $3,768.68

Dr Interest expense 14,231.32

Dr Premium on bonds payable 3,768.68

    Cr Cash 18,000

amortization fourth coupon = ($470,608.68 x 3%) - $18,000 = $3,881.74

Dr Interest expense 14,118.26

Dr Premium on bonds payable 3,881.74

    Cr Cash 18,000

5 0
2 years ago
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