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3 years ago

14

If you were to invest $120 for two years, while earning 8% simple interest, what is the total amount of interest that you will e

arn?

1 answer:

Dafna1 [17]3 years ago

6 0

19.2
P=$120
I=8%
T=2yr

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Jorgensen High Tech Inc. is a calendar-year, accrual-method taxpayer. At the end of year 1, Jorgensen accrued and deducted the f

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Answer:

$100,000

Explanation:

Based on the information given Jorgensen may lessen the amount of $100,000 in the second year which is year 2 reason been that the amount are NOT FIXED amount at the end of the year 1 because the employees are qualified to receive the bonus amount only in a situation where the employees are been employed on the date the bonuses amount were been paid.

Employees Deductible Year 1 Deductible Year 2

Ken $0 $40,000

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Velco purchased a delivery truck at the beginning of Year 1 at a cost of $60,000. The truck is estimated to have a useful life t

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$10,000

Explanation:

Depreciation of an asset is the systematic allocation of estimated cost to an asset over time. It is added over the years to get the accumulated depreciation that is netted off the cost to get the net book value.

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Depreciation expense for Year 1 (the first year of the asset's life) under the straight-line method would be

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True or false: If Dogs R Us overstates ending inventory on the balance sheet, then total equity on the balance sheet will be ove

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Majestic Corporation manufactures wheel barrows and uses budgeted machine hours to allocate variable manufacturing overhead. The

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Answer:

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Explanation:

Given: Budgeted output units: 28,475 units

Budgeted machine-hours: 17,085 hours

Budgeted variable manufacturing overhead costs for 28,475 units: $358,785

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Actual machine-hours used: 15,000 hours

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First, we will find Budgeted machine hour per unit produced.

Budgeted machine hour per unit produced= $\frac{Budgeted\ machine\ hour}{Budgeted\ units}$

⇒ $Budgeted machine hour per unit produced= 17085\div 28475= 0.6$

∴Budgeted machine hour per unit produced= 0.6

Budgeted machine hours allowed for 32475 units= $32475\times 0.6= 19485$

Budgeted variable overhead rate per machine hour= $\textrm {Budgeted variable manufacturing overhead costs}\div Budgeted\ machine\ hours$

Budgeted variable overhead rate per machine hour= $358785\div 17085= \$ 21$

Now, lets find out flexible budget amount.

Flexible budget amount= $\textrm{Budgeted machine hours allowed}\times \textrm{Budgeted variable overhead rate}$

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