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marishachu [46]
3 years ago
9

accounting A John Deere tractor acquired on January 4 at a cost of $120,000 has an estimated useful life of 25 years. Assume tha

t it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method.
Business
1 answer:
Sedbober [7]3 years ago
7 0

Answer:

$4,800 each

Explanation:

The computation of the depreciation expense for the first two year under the straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($120,000 - $0) ÷ (25 years)

= ($120,000) ÷ (25 years)  

= $4,800

In this method, the depreciation is same for all the remaining useful life

Hence, the depreciation of $4,800 is to be charged separately for each year

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melamori03 [73]

Answer:

Explanation:

(A) The preparation of the  bank reconciliation statement on July 31, 2017 is presented in the spreadsheet. Kindly find the attachment below:  

(B) The journal entries are shown below:

Cash A/c Dr $2,576

   To Accounts receivable $,2576

(Being cash is collected)

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4 0
3 years ago
Economic analysis is used only by policy makers to make policy decisions. only by business people to raise profits. only by inst
Free_Kalibri [48]

Answer:

The correct answer is: in all decision making.

Explanation:

Economic analysis is used in all walks of life, in decision making. It is not only relevant for policymaking or in business or for students. Rather, it is used in day to day life as well.  

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5 0
3 years ago
Your investment has a 20% chance of earning a 30% rate of return, a 50% chance of earning a 10% rate of return, and a 30% chance
ANTONII [103]

Answer:

a: 12.8%

Explanation:

Standard Deviation would be calculated with the probability approach since there is probability given in the question.

  • Formula of Standard Deviation and the solution is given in the pictures below.
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Calculating ERR:

ERR= Sum of Probabilities × Rate of returns.

In our question = ERR= 0.2 × 30% + 0.5 × 10% + 0.3 × (-6%) = 0.128 = 12.8%

Thus, by putting all the values in the formula you will get the answer 12.8%.

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3 years ago
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Natasha2012 [34]
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Payton, Inc.'s charter authorized 100,000 shares of stock with a par value of $1 per share. Payton issues 100 shares at a market
hoa [83]

Answer:

Common stock and $100

Explanation:

The journal entry is shown below:

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For recording this we debited the cash as it increased the assets and credited the common stock and additional paid in capital as it increased the stockholder equity    

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