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levacccp [35]
2 years ago
5

Explain why is it useful to identify workers within a specialist area

Business
1 answer:
ANTONII [103]2 years ago
3 0

it is useful to identify workers within a specialist area because if you need something done quickly and accurately, you can call the person who is really good at something, to help you without worrying if you wont complete the task on time.

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The bond, which has a $1,000 face value and a coupon rate equal to 10 percent, matures in six years. Interest is paid every six
nikitadnepr [17]

Answer:

Market value of bond = 841.14

Explanation:

Explanation:

The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV) discounted at the yield rate.

Value of Bond = PV of interest + PV of RV

The value of bond  can be worked out as follows:

Step 1  

Calculate the PV of interest payments

Semi annual interest payment

= 10% × 1,000× 1/2 = 50

PV of interest payment

A ×(1- (1+r)^(-n))/r

r- semi-annual yield = 14%/2 = 7%

n- 6× 2 = 12

= 50× (1-(1.07^(-12)/0.07

= 397.13

Step 2

PV of redemption Value

PV = $1000 × (1.07)^(-12)

= 444.011

Step 3

Price of bond

= 397.13 +444.01

=841.14

Market value of bond = 841.14

3 0
2 years ago
On December 31, 2020, Pronghorn Inc. has a machine with a book value of $1,372,400. The original cost and related accumulated de
MaRussiya [10]

Question: I was unable to find the complete question on the google search, however I find a question that was similar to the question you pasted. So I will prefer to solve the following question:

On December 31, 2017, Travis Tritt Inc. has a machine with a book value of $940,000. The original cost and related accumulated depreciation at this date are as follows.

Machine                                         $1,300,000

Less: Accumulated depreciation <u>  360,000   </u>

Book value                            $940,000

Depreciation is computed at $60,000 per year on a straight-line basis.

Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.

A) A fire completely destroys the machine on August 31, 2018. An insurance settlement of $430,000 was received for this casualty. Assume the settlement was received immediately.

b) On April 1, 2018, Tritt sold the machine for $1,040,000 to Dwight Yoakam Company.

(c) On July 31, 2018, the company donated this machine to the Mountain King City Council. The fair market value of the machine at the time of the donation was estimated to be $1,100,000.

Answer:  

Case A

In this case the machine was destroyed by fire. Fortunately, it was insured and as a result we received an amount of $430,000. This is the recoverable amount. Now we will treat this accident as a disposal and calculate the loss on the disposal of the asset.

Step 1 Remove all the accumulated depreciation associated with the Machine

Dr Accumulated Depreciation  $360,000

Step 2 Remove the value of the Asset by cost from the Machine account

Cr   Machine (cost)         $1300,000

Step 3 Calculate the Depreciation for the 8 months

$60,000 is calculated for one year and is given in the question.

For 8 months:

Depreciation for 8 months = $60,000 * 8/12 = $40,000

Dr Depreciation Expense  $40,000

Step 4 Record the insurance received as cash received due to asset destruction.

Dr Cash Received   $430,000

Step 5 Calculate the loss or profit on the destruction

(Profit) / Loss = $1300,000 Cost - $360,000 Accumulated Depreciation - Cash Received $430,000 - $40,000 Depreciation for 8 months = $470,000

We have a loss of $470,000 and we should record it by:

Dr Loss on Disposal  $470,000

Summary

Dr Loss on Disposal                $470,000

Dr Depreciation Expense         $40,000

Dr Cash Received                     $430,000

Dr Accumulated Depreciation  $360,000

Cr               Machine (cost)                            $1300,000

Case 2

In this case the asset is been sold for $1040,000 in the start of April,2018 which means it is sold after 3 months.

The first two steps are same.

Step 1 Remove all the accumulated depreciation associated with the Machine

Dr Accumulated Depreciation  $360,000

Step 2 Remove the value of the Asset by cost from the Machine account

Cr   Machine (cost)         $1300,000

Step 3 Calculate the Depreciation for the 3 months

For 3 months:

Depreciation for 3 months = $60,000 * 3/12 = $15,000

Dr Depreciation Expense  $15,000

Step 4 Record the cash received due to asset disposal.

Dr Cash Received   $1,040,000

Step 5 Calculate the loss or profit on the destruction

(Profit) / Loss = $1300,000 Cost - $360,000 Accumulated Depreciation - Cash Received $1,040,000 - $15,000 Depreciation for 3 months = ($115,000)

We have a Profit of $115,000 and we should record it by:

Cr Profit on Disposal  $115,000

Case C

In this case, the asset is donated at the start of July, 2018. This asset will be treated the same way but their is exception that it will be revalued to the fair value of the asset and thereafter will treated as disposal for making donations. This fair value will be treated as Donation Expense and will be debited.

Revaluation of the asset:

The asset will be revalued to $1,100,000 from its carrying value. Its carrying value is $940,000 and the excessive amount will be 160,000 which will be adjusted against accumulated depreciation.

Dr Accumulated depreciation $160,000

Cr Revaluation reserve                        $160,000

Now we will treat the asset as disposal and will remove the revaluation reserve according to IAS 16 Property, Plant and Equipment. The adjustment will go to Retained earnings:

Dr Revaluation reserve   $160,000

Cr Retained Earnings               $160,000

Now we will treat the asset as disposal made against Donation:

Step 1 Remove all the accumulated depreciation associated with the Machine by $200,000 (360,000-160,000).

Dr Accumulated Depreciation  $200,000

Step 2 Remove the value of the Asset by cost from the Machine account

Cr   Machine (cost)         $1300,000

Step 3 Calculate the Depreciation for the 6 months

For 6 months:

Depreciation for 6 months = $60,000 * 6/12 = $30,000

Dr Depreciation Expense  $30,000

Step 4 There is no cash receipt because of the asset donation.

Step 5 Calculate the loss or profit on the destruction

(Profit) / Loss = $1300,000 Cost - $200,000 Accumulated Depreciation - Cash Received $0 - $30,000 Depreciation for 6 months = $1,070,000

We have made a donation of $1,070,000 and we should record it as expense:

Dr Donation Expense  $1,070,000

3 0
3 years ago
The following data are taken from the income statement and balance sheet of Freeman Machinery, Inc. Dec. 31, 2018 Jan. 1, 2018 I
Norma-Jean [14]

Answer:

The answer is attached

Explanation:

Download xlsx
5 0
3 years ago
Suppose that a decrease in the demand for goods and services pushes the economy into recession. What happens to the price level?
ohaa [14]
A decrease in aggregate demand causes the price level to fall. If the government takes no action to
counter this, then the actual price level will be below the price level that people expected.
Individuals will eventually correct their expectations of the price level. As they do so, prices and
wages will adjust accordingly, shifting the aggregate supply curve to the right (down). For example
if wages are sticky, in light of the lower price level, firms and workers will eventually make bargains
for lower nominal wages. The reduction in wages lowers costs of production, so firms are willing to
7 0
3 years ago
Inthe 1920's, the value of the German mark fell dramatically. in June 1922, a U.S. dollar could buy 320 marks; by December of th
muminat

Answer:

The answer is C: Hyperinflation

Explanation:

Hyperinflation is high and accelerating form of inflation. It results in quick decline of the local currency`s real value. It also leads to increased prices of all goods and consumables

From the data,

In June 1922, 1 german Mark was equal to 0.003125 USD (1/320)

Whereas in December, 1922, the same german Mark was equal to 0.000125 USD. (1/8000)

5 0
3 years ago
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