Answer:
a.
Date Account Title Debit Credit
Dec. 31, 2017 Insurance expense $2,600
Prepaid insurance $2,600
b.
Date Account Title Debit Credit
Dec. 31, 2017 Supplies Expense $9,700
Supplies $9,700
<u>Working</u>
Supplies = Beginning balance + Purchases - Closing balance
= 7,800 + 3,400 - 1,500
= $9,700
Answer:
$67.95
Explanation:
Dividends per year;
D1 =$2
D2 = $3
D3 = $4
D4 = D3(1+g)
g= growth rate = 7% or 0.07 as a decimal
D4 = 4*(1.07) = $4.28
Next, find PV of each dividend at 12% rate of return and sum them up;
Price= 2/ (1.12) + 3/(1.12^2) +4/ (1.12^3) +
=1.7857 + 2.3916 + 2.8471 + 60.9284
= 67.9528
Therefore, the stock should be worth $67.95 today
Answer:
Expected salvage value = $20455
Explanation:
The expected salvage value of the machine can be calculated by multiplying the expected salvage values by their relative probabilities and then summing up the resulting values. The following formula can be used,
Expected salvage value = pA * svA + pB * svB + ... + pN * svN
Where,
- p represents the probability of each scenario
- sv represents the salvage value under each scenario
- A, B, ... , N represents scenario A, B, ... , till Nth number of scenario
Expected salvage value = 0.35 * 21500 + 0.41 * 22000 + 0.13 * 36000 +
0.11 * -7000
Expected salvage value = $20455
The answer is, it is a good example of "<span>being dressed, even if not clothed".
Alev Lytle Croutier is an author who is based in San Francisco, US. She contemplated Comparative Literature at Robert College in Istanbul, and left Turkey at 18 years old in 1963 to study about Art History at Oberlin College in the US. She is a writer of the non-fiction books Harem. Before becoming an author, Croutier was a screenwriter and narrative movie producer in Japan, Turkey, Europe, and the US.
</span>
Answer:
Prepare the entry to correct the prior years' depreciation, if necessary.
any change in depreciation expense must be done for future events, past events cannot be adjusted
Depreciation expense 2021:
carrying value December 2020 = $69,000 - {[($69,000 - $4,600) / 8] x 5} = $69,000 - $40,250 = $28,750
depreciation expense per year (including 2021) = ($28,750 - $5,175) / 5 = $4,715