Answer:
Straight Line Depreciation Expense $ 11,480
Explanation:
Given
Cost= $ 63,000
Salvage Value = $ 5,600
Life in years = 6
Calculations
Straight Line Depreciation Expense= Cost - Salvage Value/ Useful life in years
Straight Line Depreciation Expense = $ 63,000- 5,600/5
= $ 57,400/5= $ 11,480
Depreciation Expense for 1 month = $ 11480/12= $ 956.67
Adjustment at the end of the 1st month
Depreciation Expense $ 956.67 Dr
Accumulated Depreciation $ 956.67 Cr.
All of these are a type of market participant :) I just took this test
The solution for this problem is get first the total sales, credit sales and receivables turnover.
187,000 / 0.086 = $2,174,418 this is your total sales
2,174,418 x 60% = $1,304,651 is your credit sales
1,304,651 / 126,370 = 10.32 times is the Receivables turnover
365 / 10.32 = 35.37 days is the day's sales in receivables
Answer:
The cheapest alternative is: $300 a month immediately.
Explanation:
Giving the following information:
The dorm cost was $5000 for the two semesters
Jay had already paid a month after he moved into the dorm.
Jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment.
His share of the apartment rent and utilities will be $390 per month.
Each semester is 4.5 months long.
Alternative A:
One student offered to move in immediately and to pay Jay $300 per month for the eight remaining months of the school year.
Income= 300*8= 2400
Apartment rent= (3120)
Food= (3600)
Total= (4320)
Alternative B:
A second student offered to move in the second semester and pay $2500 to Jay.
Income= 2500
Dorm rent= (5000/9)*3.5= (1944)
Apartment rent= (1755)
Dorm food= 500*3.5= (1750)
Apartment food= (2025)
Total= (4974)
Alternative C:
Stay in the dorms
Dorm rent= (4444.44)
Dorm Food= (4000)
Total= $8444.44
<u>The cheapest alternative is A.</u>
Not B because i just got it wrong!!