1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Liono4ka [1.6K]
3 years ago
14

Waterway Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An emplo

yee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method.
Year
Straight-Line
Sum-of-the-
Years'-Digits
Double-Declining-
Balance
1 $12,420 $20,700 $27,600
2 12,420 16,560 16,560
3 12,420 12,420 9,936
4 12,420 8,280 5,962
5 12,420 4,140 2,042
Total $62,100 $62,100 $62,100

Answer the following questions.
What is the cost of the asset being depreciated?

Cost of asset $

Business
1 answer:
Masja [62]3 years ago
8 0

Answer:

$69,000

Explanation:

The double-declining method uses twice the rate of the straight-line depreciation method.  

In this case, we need to determine the depreciation rate under the straight-line method. The asset has a useful life of 5 years.

the depreciation rate = 1/5 x 100

=0.2 x 100

=20%

The Depreciation rate for the double-declining method is 40%. The straight-line method considers salvage value at the beginning, but double-declining depreciates until the salvage value.

In the first year under the double-declining method, the depreciation amount was $27,600.

It means 40% of the asset cost is $27,600.

The asset cost is 100%

40%=$27,600

100% = 27,600/40 x 100

=$690 x 100

=$69,000

Asset cost = $69,000

You might be interested in
A railwya has an operating ratio of 78%. If uts operating revenue were for $ 4.6 B for 205what were its operating expenses
kvasek [131]

Answer:

Its operating expenses were $ 3.588 B

Explanation:

The operating ratio is the ratio of operating expense to the operating or revenue generated.

This ratio is used for comparison of results from the operations of various industries.

Given that the operating ratio of 78% and the operating revenue is $4.6B, the operating expense T may be computed as

78% = T/4.6 * 100%

T = 4.6 *.78

= $3.588 B

4 0
3 years ago
The following account appears in the ledger prior to recognizing the jobs completed in January: Work in ProcessBalance, January
exis [7]

Answer:

Year-end WIP 62,200

jounral entry for completed jobs:

-------------------------------------

Finished Good Inventory   1,149,800 DEBIT

  WIP inventory                              1,149,800 CREDIT

-------------------------------------

Explanation:

<u>WIP </u>

Beginning  $     72,000

Materials    $   390,000

Labor          $   500,000

Overhead   <u>$   250,000</u>

Total WIP    $  1,212,000

<u />

<u>Finished Jobs:</u>

Job 210  $  200,000

Job 224 $  225,000

Job 216  $  288,000

Job 230 <u>$  436,800</u>

Total       $ 1,149,800

the jobs complete will move to finished good and credit WIP inventory

WIP year-end:

1,212,000 - 1,149,800 = 62,200

7 0
3 years ago
_____ money is what's available after paying for the necessities of life
SVETLANKA909090 [29]
Surplus money is your answer

8 0
2 years ago
Read 2 more answers
Yoonie is a personnel manager in a large corporation. each month she must review 16 of the employees. from past experience, she
Inga [223]

Answer:

Sample size is 16

Mean 4

Standard deviation of the sample is 0.3.

Explanation

The Central Limit Theorem estabilishes that, for a random variable X, with mean \mu and standard deviation \sigma, a large sample size can be approximated to a normal distribution with mean \mu and standard deviation \frac{\sigma}{\sqrt{n}}.

In this problem, we have that:

The population has a mean of four hours, with a standard deviation of 1.2 hours. The sample is the 16 of the employees.

So

The sample size is 16, so n = 16

The mean of the sample is the same as the population mean, so \mu = 4.

The standard deviation of the sample is s = \frac{\sigma}{\sqrt{n}} = \frac{1.2}{4} = 0.3

4 0
3 years ago
it is usually less expensive to rent an apartment than to purchase a similar sized home when chapter 15
Elan Coil [88]

It is usually less expensive to rent an apartment than to purchase similar sized home when the land in the area is overprized.

<h3>What is an apartment?</h3>

An apartment, also known as a flat, is a type of residential real estate that is a self-contained living space that is typically one story high and affixed to a building. These general buildings go by numerous names; a list is below. The housing tenure of flats also varies greatly, from large-scale public housing to owner occupancy within what is officially a condominium (strata title or commonhold) to tenants renting from a private landlord (see leasehold estate). The term "apartment" is more frequently used in professional real estate and architectural circles in the UK than in other contexts, where "flat" is more frequently—though not always—used to refer to an apartment with a single level (thus, a "flat" apartment).

To learn more about apartment, visit:

brainly.com/question/12461997

#SPJ4

7 0
10 months ago
Other questions:
  • 200 premium 700 deductible how much should i pay out of pocket
    9·1 answer
  • After completing integration testing, a systems analyst must perform ____________________, which involves the entire information
    10·2 answers
  • One column of numbers consists of 28, 42, and 14. When the digits of the numbers are added together, the result is 2 + 8 + 4 + 2
    11·1 answer
  • What is psychology? ​
    6·2 answers
  • On March 1, 2018, Rose Company invests $12,000 in Sprouts, Inc. stock. Sprouts pays Rose a $350 dividend on October 1, 2018. Ros
    8·1 answer
  • Country Day's scholarship fund receives a gift of $ 195000. The money is invested in stocks, bonds, and CDs. CDs pay 2.25 % inte
    11·1 answer
  • Many small firms seek to establish a particular niche in the market, realizing that they cannot afford to operate on a larger sc
    11·1 answer
  • Si hacemos una compra en cuenta corriente ¿ obtenemos un "descuento" en el precio de un objeto o un recargo en el mismo ?
    11·1 answer
  • Br.uh + meme =jhhbn b bbv v
    15·2 answers
  • I'm getting pretty desperate plz help me, I'll give brainiest, and ill make a free question worth 100 points this is for coding
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!