What is involved in the process of reconciliation?

Perdue Company purchased equipment on April 1 for $93,420. The equipment was expected to have a useful life of three years, or 7

k0ka [10]

Answer:

The depreciation cost per year is:

Year 1: $16,800

Year 2: $31,200

Year 3: $27,600

Year 4: $15,120

Explanation:

To calculate the depreciation cost for the equipment based on hours used, we must determine the cost per hour:

cost per hour = (purchase cost - salvage value) / expected useful life

cost per hour = ($93,420 - $2,700) / 7,560 hours = $90,720 / 7,560 hours = $12 per hour

The depreciation cost per year is:

Year 1: 1,400 hours x $12 per hour = $16,800

Year 2: 2,600 hours x $12 per hour = $31,200

Year 3: 2,300 hours x $12 per hour = $27,600

Year 4: 1,260 hours x $12 per hour = $15,120

3 0

4 years ago

Turnkey systems, inc. began the month of june, 2014 with a prepaid expenses balance of $240,000. during the month, debits totali

fomenos

The ending balance of prepaid expense can be calculated using the following formula:

Ending balance = Beginning Balance + Debit entries – Credit Entries

We are given the following information:

Beginning Balance = $240,000

Total Debit entries = $110,000

Total Credit entries = $80,000

Hence,

Ending balance = 240000+110000-80000 = 270,000

The ending balance of prepaid expense shall be <u>$270,000 </u>

7 0

3 years ago

Press agentry refers to the: A. Gathering of marketing research to determine the best public relations strategyB. Reciprocal arr

Pavlova-9 [17]

Answer:

C. Planning of activities and the staging of events to attract attention and to generate publicity.

Explanation:

When an individual or a company staged an event with the aim of catching the attention of the press or generate publicity, it is called press agentry.

Press agentry is mostly done by an organization to attract the public towards its product for personal gain. It focuses on the outcome of an event rather than the process that leads to the event.

Example of press agentry is when the CEO of a plastic industry suddenly announce an increment(about 500%) for its product. The increment generate uproar on social media because the company has become a household name and the product whose price was increased has also become a brand.

Due to the above scenario, the uproar would definately bring criticism to the company but such would also attract the media. The sudden increment will be termed publicity stunt to gain media attention.

3 0

4 years ago

Stone Industries uses flexible budgets. At normal capacity of 16,000 units, budgeted manufacturing overhead is: $48,000 variable

Fiesta28 [93]

Answer:

$3,000 favorable

Explanation:

The computation of actual and budgeted costs is shown below:-

Budgeted Actual

(18,000 units) (18,000 units)

Variable $54,000

($48,000 ÷ $16,000) × $18,000

Fixed $270,000

Total $324,000 $321,000

Therefore, Actual cost is less than Budgeted, so the difference between actual and budgeted costs is $3,000 is favorable.

3 0

4 years ago

What is the alternate name for income tax return form1040?

tatyana61 [14]

Answer:

U.S. Individual Income Tax Return

5 0

3 years ago

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