1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
storchak [24]
3 years ago
15

Cutter Enterprises purchased equipment for $54,000 on January 1, 2021. The equipment is expected to have a five-year life and a

residual value of $3,300. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be:
Business
1 answer:
ira [324]3 years ago
4 0

Answer:

the depreciation expense for the year 2021 and the book value for the year 2021  is $21,600 and $32,400 respectively

Explanation:

The computation of the depreciation expense for the year 2021 and the book value for the year 2021 under double-declining method is given below:

The depreciation expense is

= $54,000 × 1 ÷ 5 × 2

= $21,600

Now the book value is

= $54,000 - $21,600

= $32,400

hence, the depreciation expense for the year 2021 and the book value for the year 2021  is $21,600 and $32,400 respectively

You might be interested in
A firm is evaluating a proposal which has an initial investment of $50,000 and has cash flows of $15,000 per year for five years
Harlamova29_29 [7]

Answer:

3 1/3 years

Explanation:

Payback period is the time required for the inflows from a project to be equal to the initial outflow for the project. It is a key consideration in capital budgeting. It is usually assumed that the outlay or initial outflow is made in year 0 and the first inflow comes in after a year.

Year       Cash outflow      Cash inflow           Balance

0                ($50,000)                   -                ($50,000)

1                         -                   $15,000           ($35,000)

2                        -                    $15,000          ($20,000)

3                        -                    $15,000           ($5,000)

4                      -                      $15,000           $10,000

5                       -                    $15,000            $25,000

Hence the payback period

= 3 years and 5000/15000 * 12 months

= 3 years 4 months

= 3 1/3 years

3 0
3 years ago
Lake Corp., a newly organized company, reported pretax financial income of $100,000 for 20X0. Among the items reported in Lake's
liubo4ka [24]

Answer:

b.$0

Explanation:

As we know that

When there is a temporary discrepancy between financial income and taxable income a deferred tax benefit or liability occurs. Temporary difference means an benefit or cost with respect to treatment that has just a timing gap.

Moreover, the Premium on officer's life insurance is tax deductible i.e $15,000  as it is paid by the company due to which difference arise between the financial and taxable income.

And,  

Interest received on municipal bonds $20,000 are mostly exempt from federal income tax.

Therefore, it shows no such difference as it indicates the permanent difference

6 0
4 years ago
A business plan is a form of proposal. If you are serious about starting a business, you will need to write a comprehensive, tho
Irina-Kira [14]

Answer:

sry I just wanted the points I'm in middle school so I don't know this stuff either but can you give free brainlyest I'm soo close to my next rank I'd really appreciate it if you would

3 0
2 years ago
In qualitative research, the interpretation of data and its analysis emerge at what point in the research process? a. during ini
MrRa [10]

Answer:

Option B.

Explanation:

Qualitative Research refers to a primarily exploratory research which is used in gaining an understanding about underlying reasons, opinions, and motivations. It is used in providing insights into the problem or helps to develop ideas or hypotheses for potential quantitative research.

The analysis of qualitative research notes begins while the account of the data is being taken, usually on the field, and at the time of observation, interviewing, or both. This is done as the researcher identifies problems and issues that will likely help in understanding the situation.

An important step in the analytic process can be by simply reading the notes or transcripts.

4 0
3 years ago
How do companies convince people that supplements work? to what extent do they work?
lesya692 [45]
Companies usually use strategies such as testimonies, and others such as overgeneralization (over-simplification) where they say a very broad claim that may not be completely true. Or, it may specifically leave out certain details in order to convince you.
7 0
3 years ago
Other questions:
  • Which of the following is an example of a successful effort at branding?
    14·1 answer
  • Monica owns an equestrian clothing store. After many customers complained that her clothing only fit petite riders, she decided
    8·1 answer
  • Selected information from the accounting records of Ellison Manufacturing Company follows:
    15·1 answer
  • Mccrone Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 59 Manu
    12·1 answer
  • What is the name for a client-server model with one server and many clients, such as when an application is used to watch a live
    11·1 answer
  • On August 31, 2019, Montana Corporation signed a 4-year contract to provide services for Minefield Company at $30,000 per year.
    10·1 answer
  • Steve and Hillary can mow the lawn in 60 minutes if they work together. If Hillary works three times as fast as Steve, how long
    15·2 answers
  • which of the following is the features of memorandum. (a) no salutation (b) dear ma/sir (c) it contains letter headed paper (d)
    12·1 answer
  • Who may be affected by monetary penalties imposed by the Internal Revenue Service when a Tax Professional fails to meet due dili
    13·1 answer
  • Where is a more popular place a thief would go to troy to steal your personal information?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!