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4 years ago

What is accountig mean ?

Business

2 answers:

MA_775_DIABLO [31]4 years ago

5 0

It means the action or process or keeping financial accounts

lara [203]4 years ago

3 0

Accountants work with people or organizations handling money transactions.

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Swifty Company purchased equipment for $256,800 on October 1, 2020. It is estimated that the equipment will have a useful life o

enot [183]

Answer:

a. Straight line method.

Depreciation per annum = ($ 256,800 - $12,000 ) / 8 = $ 30,600.

Depreciation for 2020 = $ 30,600 * ( 3 /12 ) = $ 7,650.

b. Units of output

Depreciation per unit = ( $ 256,800 - $ 12,000 ) / 48,000 = $ 5.1

Depreciation for 2020 = 1,000 * $ 5.1 = $ 5,100.

c. Working hours.

Depreciation per hours = ( $ 256,800 - $ 12,000 ) / 20,400 = $ 12

Depreciation for 2020 = 600 * $ 12 = $ 7,200.

D. Sum of digits method

Sum of years = 8 ( 8 +1 ) / 2 = 36.

Year - 1 used ( 3 / 12 = 0.25)

Year-2 used ( 12 / 12 = 1 )

Remaining ( 8 - 1 - 0.25 = 6.75)

Depreciation for 2022 = ($ 256,800 - $ 12,000 ) * ( 6.75 / 36 )

Depreciation for 2022 = $ 45,900.

e. Double declining balance

Depreciation rate = 200 / 8 = 25 %.

Depreciation for 2020 = $256,800 * 25 % * (3 /12)

Depreciation for 2020 = $16,050.

Depreciation for 2021 = ( $256,800 - $ 16,050) * 25%

Depreciation for 2021 = $60,188.

3 0

3 years ago

A realtor is trying to predict the value of a home. He has quantitative data available and has evidence that the home price has

nadya68 [22]

Answer:

a. linear regression.

Explanation:

Based on the information provided within the question it can be said that in this scenario the best choice would be a linear regression model. That is because this type of approach deals with seeing to what extent there exists a relationship between two variables. Which in this case would be the quantitative data/prices and the square footage of the home.

6 0

3 years ago

Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Equivalent Units of Production Dire

ira [324]

Answer:

The total conversion costs transferred out of the Cranning Department = $196000

Explanation:

We have been given with the equivalent units of production with direct materials and conversion. In order to find the total conversion costs transferred out of the Cranning Department, we need the conversion units which are 50,000 units along with cost per equivalent unit for conversion which is $3.92 per EUP.

The total conversion costs transferred out of the Cranning Department = 50,000 * $3.92

The total conversion costs transferred out of the Cranning Department = $196000

7 0

3 years ago

The 2016 financial statements of The New York Times Company reveal average shareholders’ equity attributable to controlling inte

Umnica [9.8K]

Answer:

E. There is not enough information to calculate the ratio.

Explanation:

It's necessary the information about the other partner or what it's the total amount of shareholders’ equity to calculate the net income attributable to New York Times.

The only information available it's shareholders’ equity attributable to controlling interest which means there is other part which have the rest.

5 0

3 years ago

returned unsatisfactory merchandise to Prestigious Bakery for $5,000 receiving a credit note for these goods.

Rama09 [41]

Answer:

Debit: Accounts Payable $ 5,000

Credit: Merchandise Inventory $ 5,000

Explanation:

Credit note:

A credit note is a document issued by the supplier, when:

Supplies are returned or found to be deficient by the recipient -
When goods supplied are returned by the recipient or goods/services supplied are found to be deficient by the recipient, the supplier should issue a Credit Note.
The credit note serves the purpose of reducing the value of the original supply.

Preparing journal entries with respect the given situation.

Debit: Accounts Payable $ 5,000

Credit: Merchandise Inventory $ 5,000

6 0

4 years ago