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LUCKY_DIMON [66]
3 years ago
7

Cheetah Copy purchased a new copy machine. The new machine cost $100,000 including installation. The company estimates the equip

ment will have a residual value of $25,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:
Year Hours Used
1 3,000
2 2,000
3 1,200
4 2,800

Required:
Prepare a depreciation schedule for four years using the straight-line method.
Business
1 answer:
Zina [86]3 years ago
5 0

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $100,000

Salvage value= $25,000

Useful life= 4 years

<u>To calculate the annual depreciation, we need to use the following formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (100,000 - 25,000) / 4

Annual depreciation= $18,750

<u>Year 1:</u>

Annual depreciation= 18,750

Accumulated depreciation= 18,750

Book value= 100,000 - 18,750= 81,250

<u>Year 2:</u>

Annual depreciation= 18,750

Accumulated depreciation= 18,750*2= 37,500

Book value= 100,000 - 37,500= 62,500

<u>Year 3:</u>

Annual depreciation= 18,750

Accumulated depreciation= 18,750*3= 56,250

Book value= 100,000 - 56,250= 43,750

<u>Year 4:</u>

Annual depreciation= 18,750

Accumulated depreciation= 18,750*4= 75,000

Book value= 100,000 - 75,000= 25,000

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Franklin Manufacturing provided the following information for the month ended March​ 31: Sales Revenue $ 15 comma 000 Beginning
klasskru [66]

Answer:

B. $ 17 comma 100

Explanation:

The movements in inventory account is usually as a result of purchases, sales, returns etc. These are the factors that bring about a difference between the opening and closing balances in the inventory account.

Given that

Beginning Finished Goods Inventory = $14000

Ending Finished Goods Inventory = $14500

Cost of Goods Manufactured = $17600

Sales revenue = $15000

Let the cost of goods sold be B

$14000 + $17600 - B = $14500

B = $14000 + $17600 - $14500

B = $17100

The cost of goods sold is $17100

7 0
3 years ago
Lawn Chopper Company sells two types of lawn mowers. The first one is a basic lawn mower, which has variable costs of $50 and se
Temka [501]

Answer:

See below

Explanation:

Breakven even point is computed as

= Fixed costs / ( Sales price per unit - Variable costs per unit)

For basic lawn mower, Given that;

Fixed cost = $5,000,000

Sales price per unit = $150

Variable costs per unit = $50

BEP = $500,000 / ($150 - $50)

BEP = $500,000 / $100

BEP = 5,000 units

For Riding tractor, given that;

Fixed costs = $500,000

Sales price per unit = $1,500

Variable cost per unit = $500

BEP = $500,000 / ($1,500 - $500)

BEP = $500,000 / $1,000

BEP = 500 units

It therefore means that 5,000 units of basic Lawn mower must be sold to break even, while 500 units of riding tractor must be sold to break even.

7 0
3 years ago
Leisha grew 4.5 inches and gained 3 pounds last year. about how many years old is leisha likely to be?
Nadya [2.5K]
Leisha is likely to be about three years old. This is because, between age two and three, children usually increase in length by about  3 - 5 inches and gained about 4 pounds. In the first two years of life, growth is faster than this while between the ages of four and six, growth is slower.
7 0
3 years ago
Can someone please write a business article for me
11111nata11111 [884]

Answer:

u can use quillbot.com

Explanation:

it makes a few sentences into a lot giving a whole article on something off of a few sentences u write

7 0
2 years ago
"According to the law of demand, with everything else being equal, the quantity demanded for a good or service will ____________
m_a_m_a [10]

Answer: Decrease

Explanation:

According to the Law of  Demand, The quantity demanded for purchase of a commodity inversely varies with the price.

That is to say that "ceteris paribus" ( with everything being equal),When the prices of a particular good go higher, people will buy less of such commodity but will buy more, if the prices of the goods reduces.

We can say demand is elastic if quantity demanded for a commodity decreases with increase in price which will make people choose another  lower substitute good eg, detergent, ice cream

Also if  quantity demanded does not change much with increase in price , then it is referred to as Inelastic Demand  for example necessity commodity such as gasoline.

5 0
3 years ago
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