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
KatRina [158]
3 years ago
5

Waterway Industries purchased machinery for $905000 on January 1, 2017. Straight-line depreciation has been recorded based on a

$52000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $13000. How much cash did Waterway receive from the sale of the machinery?
Business
1 answer:
BlackZzzverrR [31]3 years ago
4 0

Answer:

$ 178,733  

Explanation:

From January 2017 when the machinery was acquired till May 1 2021  when it disposed of, depreciation would have been charged for full years 2017,2018,2019 and 2020 while 2021 depreciation would only be for 4 months.

Annual depreciation=cost-salvage value/ useful life

annual depreciation=($905000-$52000)/5=$170,600  

depreciation for 4 years=$170,600*4=$682,400

depreciation for 4 months=$170,600*4/12=$56,867  

accumulated depreciation=$682,400+$56,867=$739,267  

carrying value=cost-accumulated depreciation= $905000- $739,267 =$165,733  

gain on disposal=cash proceeds-carrying value

$13000=cash proceeds-$165,733  

cash proceeds=$165,733 +$13000=$ 178,733  

You might be interested in
Your Competitive Intelligence team is predicting that the Chester Company will invest in adding capacity to their Cent product t
____ [38]

Question Completion:

Product    Segment    Capacity Next Round

Attic          Core           1,130

Axe          Core          1,200

City          Core          1,300

Cent  Core          1,550

Dome  Core           1,145

Dug          Core          1,023

Answer:

Competitive Intelligence Team

The industry can produce 8,083 units in the Core segment next year.

Explanation:

a)Data and Calculations:

Product    Segment    Capacity      Increasing  New Capacity

                   Next Round     by 10%         next year

Attic          Core           1,130           113               1,243

Axe          Core          1,200         120         1,320

City          Core          1,300    130         1,430

Cent  Core          1,550    155         1,705

Dome  Core           1,145     115        1,260

Dug          Core          1,023    102         1,125

Total industry capacity   7,348        735              8,083

b) A Competitive Intelligence is an analysis for decision-makers that uncovers competitive gaps, products, and services.  It uses information about a firm's industry, business environment, and competitors' strategies to develop strategic initiatives and identify opportunities and threats facing the firm in the marketplace.

8 0
3 years ago
Organizational strengths or abilities, developed over a long time period, that customers find valuable and competitors find diff
liberstina [14]

Answer: Core competency.

Explanation:

The core competency of a company are those qualities that a company develops overtime that makes it have a comparative advantage over it's competitors in its market. The core competency of a company is the quality that company is known for by consumers and it is very hard to imitate.

5 0
4 years ago
David has purchased an investment that he expects to produce an annual cash flow of​ $3,000 for five years. He requires an​ 8% r
Inessa05 [86]

Answer:

Explanation:

In order to find the highest amount david can pay or in other words the present value of the investment we would have to discount the cash flows

3000/1.08+3000/1.08^2+3000/1.08^3+3000/1.08^4+3000/1.08^5=11,978

8 0
4 years ago
Which of the following best addresses the economic question For whom to produce?
Nonamiya [84]

Answer:

D. InFocus conducts focus groups to determine its target market.

Explanation:

Just took the test!

3 0
3 years ago
Jim operates his business on the accrual method and this year he received $4,000 for services that he intends to provide to his
Ainat [17]

Answer:

He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.

7 0
4 years ago
Other questions:
  • Dmitri recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from
    8·1 answer
  • Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121
    8·1 answer
  • Most students are on strike. Very few students were crossing the picket line. In fact, the postal employees refused to deliver m
    7·1 answer
  • In year 2, Kilroy Company purchased land for a new office building at a purchase price of $325,000. There was an existing buildi
    8·1 answer
  • Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $77,000. Purchases of inven
    13·1 answer
  • Harris Supply has sales of Sales of $230, Cost of Goods Sold of $78, Depreciation of $40 and Interest Expense of $12. If their t
    5·1 answer
  • Nation A builds a new highway next to citizens’ properties. In the months following, littering as well as several highway accide
    5·1 answer
  • Acme Corp. is conducting a business impact analysis for the threat of ransomware impacting its organization. The company determi
    6·1 answer
  • Positive Messages and the Writing Process
    6·1 answer
  • A disadvantage of the free cash flow valuation method is A. The free cash flow method is not used widely in practice. B. The ter
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!