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amid [387]
3 years ago
14

On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $67,800. The band estimates

it will use this equipment for five years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2017, the band performs 45 concerts. Compute the year 2017 depreciation using the straight-line method.
Business
1 answer:
tia_tia [17]3 years ago
7 0

Answer:

Annual depreciation= $13,160

Explanation:

Giving the following information:

Purchase price= $67,800.

Useful life in years= 5 years

Salvage value= $2,000.

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

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

Annual depreciation= (67,800 - 2,000) / 5

Annual depreciation= $13,160

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Identify which of the following statements is correct as to why accounting is important. Multiple choice question. We live in an
ziro4ka [17]

Answer:

Accounting information identifies, records and communicates information about a business.

Explanation:

The accounting information identified the business records and communicate the business information to the insiders and outsiders also it does not have any effect on everyone except the stakeholders. In addition to this, it is not depend upon the valuation made for the stock market

So as per the given situation, the above statement should be correct

3 0
3 years ago
An aggregate production function shows​ ________. A. the relationship between a​ country's output and its price level B. various
Maru [420]

Answer:

The correct answer is letter "C": the relationship between a​ country's GDP and its factors of production.

Explanation:

The Aggregate Production Function describes the relationship between a country's Gross Domestic Product (GDP) and the factors of production involved in it. Aggregate Production functions are considered physical and human capital, labor, knowledge, social infrastructure, and natural resources. Production increases as a result of increases in capital, natural resources, and labor.

3 0
3 years ago
In the u.s. economy today, real gdp per person, compared with its level in 1900, is about:
Viefleur [7K]
It is about eight times high.  Gross domestic product is the monetary measure of all goods and services produced by a country within a given period of time. It is an important measure of an economy of a given state or nation. There are two types of GDP , that is the nominal GDP and the real GDP. Real GDP is the total income of everyone in the economy adjusted for the level of base year prices.
7 0
4 years ago
​Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information r
Lera25 [3.4K]

Answer:

Collection from Customers =$487,000

Explanation:

Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance

=97000+$519,000-$65,000

=$487,000

7 0
3 years ago
When dealing with foreign countries, a marketer should refer to "international commercial law" for guidance?
Jobisdone [24]

The above statement is false.

<span>Because when dealing with foreign countries, a marketer should look the legal system of the country with which he is dealing or the laws of the country related to the business to check the limitations within business is conducted. There is no such law of international commercial.</span>

3 0
4 years ago
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