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Masja [62]
3 years ago
8

Testbank Multiple Choice Question 100 Bramble Corp. purchased machinery on January 2, 2015, for $880000. The straight-line metho

d is used and useful life is estimated to be 10 years, with a $86000 salvage value. At the beginning of 2021 Bramble spent $188000 to overhaul the machinery. After the overhaul, Bramble estimated that the useful life would be extended 4 years (14 years total), and the salvage value would be $42000. The depreciation expense for 2021 should be
Business
1 answer:
ValentinkaMS [17]3 years ago
5 0

Answer:

33,585.71

Explanation:

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Intelligence is the ability to acquire and apply knowledge and skills.

7 0
3 years ago
At the beginning of the year, ACME had an inventory of $600,000. During the year, the company purchased goods costing $2,250,000
babunello [35]

Answer:

COGS (cost of goods sold) = $2,100,000

Gross Profit rate = 0.3

Explanation:

The formula for computing COGS (cost of goods sold) is as

COGS (cost of goods sold) = Beginning inventory + Purchases - Ending inventory

where

Beginning inventory amounts to $600,000

Purchases made during the period is $2,250,000

Ending inventory is $750,000

So, putting the values above:

COGS (cost of goods sold) = $600,000 + $2,250,000 - $750,000

COGS (cost of goods sold) = $2,850,000 - $750,000

COGS (cost of goods sold) = $2,100,000

The formula for computing Gross Profit rate is as:

Gross Profit rate = Gross Profit / Net Sales

where

Gross Profit is computed as:

Gross Profit = Net Sales - COGS

= $3,000,000 - $2,100,000

Gross Profit = $900,000

Net Sales is $3,000,000

So, putting the values above:

Gross Profit rate = $900,000 / $3,000,000

Gross Profit rate = 0.3

4 0
2 years ago
Matt has $471.60 in his checking account and feels he's doing pretty well financially.Then his car stops running. His mechanic i
galben [10]
<span>Pay the service center with his VISA credit card....</span>
5 0
3 years ago
All of the following are reasons to get organized except:
riadik2000 [5.3K]

Answer:

the answer is A. inefficiency

3 0
3 years ago
Miller Fruit wants to expand its citrus grove operations. The firm estimates that it needs $8.6 million to buy land and establis
sergeinik [125]

Answer:

2.072 rights

Explanation:

Amount needed to buy the land = $8.6 million = $8,600,000

stock outstanding = 540,000

Market price per share = $34.80

subscription price = $33 a share

Now,

Number shares to be issued = ( Amount needed ) ÷ ( subscription price )

= $8,600,000 ÷ $33

= 260606.06 shares

1 rights will be issued per stock

thus,

number of rights required for purchase

= ( stock outstanding ) ÷ ( Number shares to be issued  )

= 540,000 ÷ 260606.06

= 2.072 rights

3 0
3 years ago
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