D. Resourcefulness; if you can pick more than one than also chose A. Confidence.
Answer:
$23,520
Explanation:
The computation of book value of the machine is shown below:-
Machine cost $28,000
Less: Depreciation $4,200
($28,000 - $2,800) ÷ 6
Book Value at beginning
of Year 2 $23,800
Add: Improvements $7,000
Total $54,600
Less: Accumulated
Depreciation for 3 years $31,080
($54,600 - $2,800) × 3 ÷ 5 years
Book Value Dec 31, Year 4 $23,520
Answer:
warranty expense 10,400 (260,000 x 4%)
warranty liablity 10,400
warranty liability 150
wages payable 50
inventory 100
Explanation:
we recognize the expected warranty expense at the moment of the sale.
Then expenses associate with the warranty will decrease the prevision "warranty liability"
The part used come from the company's inventory
and the wages for work on the product, will have to be paid.
<u>Note: </u>it could be cash directly instead of using wages payable account. But because there is no information about those wages being paid I assume are not.
Answer:
Some people would be willing to make a large sacrifice in order to help a loved one = Consistent with the Predictions of Traditional Economic Models.
Some people choose to work fewer hours after receiving a raise at work = Consistent with the Predictions of Traditional Economic Models.
Some people prefer to spend an hour doing a task tomorrow to half an hour doing a task today, although the opportunity cost of their time is the same in both periods = Reserved for Behavioral Economics.
Some people treat $70 they earn differently from $70 they win from a lottery ticket = Reserved for Behavioral Economics.
Explanation:
The behaviors of people generally cannot completely be predicted. However, there are certain suggestions made on the behaviors of people by the traditional economic framework as well as the behavioral economists. These suggestions have been used by different professional to qualify the behaviors of people in a certain way (as illustrated in the answers above).
