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Delvig [45]
2 years ago
7

On January 1, Miami Gold Exchange paid cash of $64,800 for computers that are expected to remain useful for six years. At the en

d of six years, the value of the computers is expected to be zero Read the requirements Requirement 1. Calculate the amount of depreciation for the month of January using the straight-line depreciation method. Begin by selecting the labels, than enter the amounts and compute the amount of depreciation for the month of January. (Abbreviation used; Acc. Depreciation Accumulated Depreciation. Enter a "O" for any zero balances.) )1 / 12 monthsStraight-line depreciation Requirements 1. Calculate the amount of depreciation for the month of January using the straight-line depreciation method 2. Record the adjusting entry for depreciation on January 31 3. Post the purchase of January 1 and the depreciation on January 31 to T-accounts for the following accounts: Computer Equipment, Accumulated DepreciationComputer Equipment, and Depreciation Expense Computer Equipment. Show their balances at January 31 4. What is the computer equipment's book value at January 31?
Business
1 answer:
Dmitry_Shevchenko [17]2 years ago
4 0

Answer: See explanation

Explanation:

The amount of depreciation for the month of January using the straight line depreciation method will be:

= (Cost - Salvage Value) / Life of Assets / 12 Months

= ($64,800 - $0) / 6 Years / 12 Months

= $10800/12

= $900 per month

The adjusting entry for depreciation on January 31 will be:

Dr Depreciation Expense - Computer Equipment $900

Cr Accumulated Depreciation-Computer Equipment $900

(To record the depreciation expense)

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ioda

Answer:

P V = 1669,5

Explanation:

After seven years, future payment will be 9800$ and from there on we will have 23 annual payments more:

P V = 9800/(1+0.08)^23 = 9800/5,87 = 1669,5

8 0
3 years ago
Which two tasks does a public affairs officer do?
spayn [35]

Answer:

planning publicity strategies and campaigns. writing and producing presentations and press releases. dealing with enquiries from the public, the press, and related organisations. organising and attending promotional events such as press conferences, open days, exhibitions, tours and visit.

8 0
3 years ago
Will is currently in a 22% tax bracket and has a 7.2% savings rate of return. What is his after-tax savings rate of return
larisa86 [58]

Based on the information given his after-tax savings rate of return is 5.62%.

<h3>After-tax saving rate of return</h3>

Using this formula
After-tax savings rate=Saving rate of return×(1-Tax rate)

Where:

Saving rate of return=7.2%

Tax rate=22%

Let plug in the formula

After-tax savings rate=0.072×0.78

After-tax savings rate=0.05616×100

After-tax savings rate=5.62% (Approximately)

Inconclusion his after-tax savings rate of return is 5.62%.

Learn more about After-tax savings rate here:brainly.com/question/3520758

3 0
2 years ago
Yang Corporation starts a foreign subsidiary on January 1 by investing 25,000 rand. Yang owns all of the shares of the subsidiar
Lisa [10]

Answer:

$3,000 credit

Explanation:

Given the followin currency exchange rates for 1 rand are as follows:

January 1 $0.25 = 1 rand

Average for the year 0.28 = 1

December 31 0.31 = 1

Net income conversion Investment using January 1 rate = 50,000 rand × $0.25 = $12,500

Net income conversion Investment using December 31 rate = 50,000 rand × $0.31 = $15,500

Credit (Debit) = $15,500 - $12,500 =$3,000

Therefore, the translation adjustment that Yang will report at the end of the current year is $3,000 credit since the difference is positive.

4 0
3 years ago
tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access t
tamaranim1 [39]
The answer is B i hope this helps you

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3 years ago
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