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3 years ago

Acellus Businesses management

1 answer:

7 0

Here is the answer

https://www.science.edu/Acellus/curriculum/career-technical-education-courses/lesson-lists/Business%20Management%20Curriculum.pdf

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Machinery purchased for $64,200 by Sheridan Co. in 2016 was originally estimated to have a life of 8 years with a salvage value

ArbitrLikvidat [17]

Answer:

Sheridan Co.

a. It is not necessary to correct the prior year's depreciation. Depreciation is an accounting estimate and does not require the adjustment of prior year's accounts when there is a correction in its estimates.

b. Entry to record depreciation for 2021:

Debit Depreciation Expense $4,387

Credit Accumulated Depreciation $4,387

To record the depreciation expense for the year.

Explanation:

a) Data and Calculations:

Purchase of machinery in 2016 = $64,200

Original estimated useful life = 8 years

Salvage value = $4,280

Depreciation amount = $59,920 ($64,200 - $4,280)

Depreciation expense per year = $7,490 ($59,920/8)

Accumulated depreciation for 5 years = $37,450

Net book value = $26,750 ($64,200 - $37,450)

Remaining estimated useful life = 5 years

Salvage value = $4,815

New depreciable amount = $21,935 ($26,750 - $4,815)

Depreciation expense per year = $4,387 ($21,935/5)

4 0

3 years ago

A firm has estimated the following demand function for its product:

Rom4ik [11]

Answer:

(i) Q=300

(ii) Elasticity of Demand=-3.33 (elastic)

(iii) Income Elasticity= 2.5 (normal good)

(iv) Advertising Elasticity: 1.5

Explanation:

The Demand function is given by

$Q=100-5P+5I+15A$

(1) To solve (i) we need to replace P = 200, I = 150, and A = 30 in the demand equation:

$Q=100-5(200)+5(150)+15(30)=300$

(2) To find the price elasticity (how much quantity demanded changes with price) we use the point price elasticity formula

$\eta_{Price}=\frac{\Delta Q}{\Delta P}\frac{P}{Q}$

From the above equation we get: $\frac{\Delta Q}{\Delta P}=-5$

Replacing in the elasticity formula

$\eta_{Price}=-5\frac{200}{300}=|-3.33|>1$

in absolute terms the elasticity is bigger than one so it is an elastic demand.

(3) For income elasticity (how much quantity demanded changes with income), we proceed similarly as above. But the derivative is respect to income

$\eta_{Income}=\frac{\Delta Q}{\Delta I}\frac{I}{Q}=5\frac{150}{300}=2.5>1$ [/tex]

Which is bigger than one, denoting this is a normal good because it's bigger than one.

(4) Advertising elasticity (how much quantity demanded changes with expenditures in advertising), we proceed as before

$\eta_{advertising}=\frac{\Delta Q}{\Delta A}\frac{A}{Q}=15\frac{30}{300}=1.5$

3 0

3 years ago

What is the opportunity cost of an investment

Temka [501]

An opportunity cost of an investment is the difference between the return of an investment taken and the return of another investment that one had not taken. It is the forgone opportunity of an investment not taken or pursued. It is the amount of money one could have made had one chosen to pursue the other investment.

7 0

3 years ago

In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: (1) 300 units a

Mila [183]

Answer:

the average unit cost: $7.917

Explanation:

I think your question is missed of key information, allow me to add in and hope it will fit the original one.

In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 200 units on hand at the end of the period. Calculate average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)

My answer:

Given:

1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9.

<=> Total units = 300 + 400 + 500 = 1200 units

<=> Total cost: 300*$6 + 400*$8 + 500*$9

= $1,800 + $3,200 + $4,500

= $9500

As we know that, the average unit cost:

= Total cost / total units

=$9,500 ÷ 1,200 = $7.917

Hope it will find you well.

6 0

3 years ago

Anheuser-Busch/InBev Company, Inc., has been given the exclusive right to the name Budweiser and is legally protected from other

vichka [17]

Answer:

trademark

Explanation:

A trademark is a property which is intellectually a sign or a design which helps in the recognition of the product. The design or sign which particularly defines and helps in the identification of a product is said to be a trademark of a product. A trademark can be found on the location of the packaging, label or the product. Legally, it is recognized as intellectual property.

3 0

3 years ago