The amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.
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What is depreciation expense?</h3>
- Depreciation expense is the cost of a depreciated asset for a specific period, and it reveals how much of the asset's value was used up in that year.
- Accumulated depreciation is the entire amount of depreciation expense given to an asset since it was placed in service.
- A business spends $84,000 on new display racks with a useful life of 7 years (84 months) and no residual value.
- The corporation would most likely choose a straight-line depreciation technique, which would result in a $1,000 monthly depreciation expenditure ($84,000/84 months = $1,000 per month).
The straight-line technique of calculating depreciation expense is given below:
- = (Original cost - salvage value) ÷ (useful life)
- = ($173,000 - $8,600) ÷ (10 years)
- = ($164,400,000) ÷ (10 years)
- = $16,440
In this method, the depreciation is the same for all the remaining useful life.
Now for the 7 months, the depreciation expense would be:
- = $16,440 × 7 months÷ 12 months
- = $9,590
Therefore, the amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.
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The correct question is given below:
A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021, is ______.
(A) $16440.
(B)$9590.
(C)$8220.
(D)$6850.
EPS is Net Income attributed to shareholders divided by no. of shares outstanding. The dividend on preferred stock is subtracted from net income before calculating earnings per share (EPS). Following is the formula for Earnings per share
EPS = (Net Income – Preferred Dividend)/ No. of common stocks outstanding
= ($611,000 - $84,000)/ 303,000
= $1.74
Therefore, earnings per share would be $1.74.
AD was a dark age and a period of cultural decay and decline for Europe because there was barely a government, harsh punishments, ignorant people, not a lot of land, and there was a lot of killing and diseases going around Europe that cause Europe to decline in population.
Answer:
The restaurant need to sell 46.6 slices (47 slices)
Explanation:
Giving the following information:
The restaurant sells pizza at a rate of $13.57/slice. Expenses for the restaurant include raw material for pizza at $8.57 per slice, $172.00 as monthly rental and $61.00 monthly as insurance.
To calculate the break-even point in units, we need to use the following formula:
Break-even point= fixed costs/ contribution margin
Break-even point= (172 + 61) / (13.57 - 8.57)
Break-even point= 46.6 slices
Answer: No.
Explanation: Consumption is not contentment because one can consume something without been satisfied of that either because it wasn't what was expected as in the taste.
