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jarptica [38.1K]
3 years ago
7

The cost of an asset is $ 1,020,000​, and its residual value is $ 100,000. The estimated useful life of the asset is ten years.

Calculate depreciation for the first year using the two minus declining minus balance method of depreciation.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)
a. $ 204.000
b. $ 92.000
c. $ 102. 000
d. $ 184.000
Business
1 answer:
dsp733 years ago
6 0

Answer:

Option (a) $204,000

Explanation:

Data provided in the question:

Cost of the asset = $1,020,000

Residual value = $100,000

Useful life = 10 years

Now,

Using the 2-declining-balance method of depreciation

The rate of annual depreciation = 2 × [ 1 ÷ Useful life ]

= 2 × [ 1 ÷ 10 ]

= 0.20

Therefore,

Depreciation for the first year = Cost × Rate of depreciation

= $1,020,000 × 0.20

= $204,000

Hence,

Option (a) $204,000

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Answer:

<u>Average total cost for 7000 staplers was= $2.43</u>

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=17000/7000

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4 0
3 years ago
On December 1, 20X1, Money Co. gave Home Co. a $200,000, 11% loan. Money paid proceeds of $194,000 after the deduction of a $6,0
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Answer: <em>(C.) $2,005</em>

Explanation:

Given :

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3 0
3 years ago
How are bonds payable usually classified on the balance sheet?
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Bonds payable that are <u>long-term obligations</u> are typically recorded on the balance sheet.

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Long-term liabilities are also referred to as noncurrent liabilities or long-term debt. The balance sheet's part that may include debentures, loans, deferred tax liabilities, and pension obligations is where long-term liabilities are stated following more immediate liabilities.

Liabilities that are greater than one year in duration or that are not due within the next 12 months are referred to as long-term liabilities. The time it takes a business to convert its inventory into cash is known as its operational cycle.

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7 0
2 years ago
You run a hotel with 200 rooms. Fixed daily cost is $1500 which includes staff salary and property charges, maintenance cost is
erica [24]

Answer:

The revenue is $2,450

Explanation:

The computation of the revenue is shown below:

= Sales - variable cost - additional costs - fixed cost

where,

Sales = Selling units × price per unit

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6 0
3 years ago
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