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MAVERICK [17]
3 years ago
12

Copy equipment was acquired at the beginning of the year at a cost of $56,000 that has an estimated residual value of $8,000 and

an estimated useful life of 5 years. It is estimated that the machine has an estimated 1,000,000 copies. This year 240,000 copies were made. Determine the (a) depreciable cost, (b) depreciation rate, and (c) the units-of-production depreciation for the year.
Business
1 answer:
sergeinik [125]3 years ago
5 0

Answer:

Results are below.

Explanation:

<u>The depreciable cost is the result of deducting from the purchase price the salvage value:</u>

<u></u>

Depreciable cost= 56,000 - 8,000

Depreciable cost= $48,000

<u>The depreciable rate is the depreciation that the asset suffers in one year express as a percentage:</u>

<u></u>

Depreciation rate= 1/5 = 0.2 or 20% per year

<u>Finally, the units of production depreciation for the first year:</u>

Annual depreciation= [(original cost - salvage value)/useful life of production in copies]*number of copies

Annual depreciation= (48,000/1,000,000)*240,000

Annual depreciation= 0.048*240,000

Annual depreciation= $11,520

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Answer:

Aug 1

Dr Cash $12,750

Dr Photography equipment $54,825

Cr Common stock $67,575

Aug 2

Dr Prepaid insurance $3,500

Cr Cash $3,500

Aug 5

Dr Office supplies $2,423

Cr Cash $2,423

Aug 20

Dr Cash $2,050

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Aug 31

Dr Utilities Expense $868

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Explanation:

Preparation of general journal entries for the above transactions

Aug 1

Dr Cash $12,750

Dr Photography equipment $54,825

Cr Common stock $67,575

($12,750+$54,825)

Aug 2

Dr Prepaid insurance $3,500

Cr Cash $3,500

Aug 5

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Cr Cash $2,423

Aug 20

Dr Cash $2,050

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Aug 31

Dr Utilities Expense $868

Cr Cash $868

3 0
2 years ago
A point M on a segment with endpoints (-1, 1) and ( 7, 7) partitions the segment in a 3:5 ratio. Find M. You must show all work
HACTEHA [7]

The coordinates of point M after the partition is (2, 3.25).

<h3>What are coordinates and how to determine coordinates?</h3>
  • A coordinate system in geometry is a system that uses one or more integers, or coordinates, to define the position of points or other geometric components on a manifold such as Euclidean space.

We have:

  • Endpoints = (-1,1) and (7,7)
  • Ratio, m : n = 3 : 5

The coordinates of point M is then calculated using:

M=\frac{1}{m+n} *(mx_{2}+nx_{1} , my_{2} +ny_{1} )

So, we have:

M=\frac{1}{3+5} * (3*7+5*-1,3*7+5*1)

Evaluate the sum and the product:

M=\frac{1}{8} *(16,26)

Evaluate the product:

M=(2,3.25)

The coordinates of point M is (2, 3.25)

Therefore, the coordinates of point M after the partition is (2, 3.25).

Know more about coordinates here:

brainly.com/question/17206319

#SPJ4

4 0
1 year ago
Black market dealers are often legitimate businesses with questionable and illegal practices. (points : 2) true false
amm1812
 The Black Market is a series of dealers who can get you a product that has been repealed from stores, such as 2006 yellow Tide, which cleaned the products too good, forcing the company to take it off the market because they wanted to continue to sell products that they claim better than the last. The Black Market is illegal and if currently under high investigation by governments all over the world. So, if the Black Market practice itself is illegal and all actions taken while in the Black Market are as well, I think you can finalize your answer. Hope this helped!
6 0
3 years ago
True or False? The United States does not have publicly financed health insurance specifically for the unemployed.
iren [92.7K]

Answer:

True

Explanation:

The United States has no single nationwide system of health insurance.

In the event that an employed worker's spouse loses his/her job to lay-off, the insurance premium financed by the active worker for this family coverage should provide basic health benefits to unemployed workers and their dependents because government does not provide for such category of active group except for senior citizens.

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3 0
2 years ago
The Closed Fund is a closed-end investment company with a portfolio currently worth $200 million. It has liabilities of $3 milli
iragen [17]

Answer:

$39.40

Explanation:

According to the situation, the solution is as follows

The Net asset value of the fund is

= (Current worth of portfolio - liabilities) ÷ (outstanding shares)

= ($200 million - $3 million) ÷ (5 million shares)

= $39.40

Basically we applied the above formula in order to determine the net asset value of the fund.

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