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grigory [225]
2 years ago
8

On January 1, 2019, Woodstock, Inc. purchased a machine costing $30,900. Woodstock also paid $1,700 for transportation and insta

llation. The expected useful life of the machine is 5 years and the residual value is $4,600. How much is the annual depreciation expense, assuming use of the straight-line depreciation method
Business
1 answer:
lutik1710 [3]2 years ago
8 0

Answer:

Annual depreciation= $5,600

Explanation:

Giving the following information:

Total Purchase price= 30,900 + 1,700= $32,600

Useful life= 5 years

Residual value= $4,600

<u>To calculate the depreciation expense under the straight-line method, we need to use the following formula:</u>

Annual depreciation= (Total Purchase price - salvage value)/estimated life (years)

Annual depreciation= (32,600 - 4,600) / 5

Annual depreciation= $5,600

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Answer: debit to Product Warranty Expense for $750

Explanation: 5% of $15000 =

5 ÷ 100 × $15000 is $750.

This is an expense and so will be a debit.

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3 years ago
Which statement provides the correct information regarding the parts
Alborosie

Answer:

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Explanation:

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2 years ago
What is the purpose of a marketing plan?
Elza [17]

Answer:

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Explanation:

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4 0
3 years ago
Why is using money as a medium of exchange preferable to bartering?
Y_Kistochka [10]

Answer:

Money as a medium of exchange is more preferable because of its less cumbersome nature.

Explanation:

Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.

Money is easily stored compared to a barter system.

Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.

Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.

8 0
3 years ago
Suppose that two factors have been identified for the U.S. economy: the growth rate of industrial production, IP, and the inflat
Delicious77 [7]

Answer:

11.3%

Explanation:

Given that,

Growth rate of industrial production, IP = 4%

Inflation rate, IR = 3.0%

Beta = 1.1 on IP

Beta = 0.5 on IR

Rate of return = 7%

Before the changes in industrial production and inflation rate:

Rate of return = α + (Beta on IP) + (Beta on IR)

7% = α + (1.1 × 4%) + (0.5 × 3%)

7% = α + 4.4% + 1.5%

7% - 4.4% - 1.5% = α

1.1% = α

With the changes:

Rate of return:

= α + (Beta on IP) + (Beta on IR)

= 1.1% + (1.1 × 7%) + (0.5 × 5%)

= 1.1% + 7.7% + 2.5%

= 11.3%

Therefore, the revised estimate of the expected rate of return on the stock is 11.3%.

6 0
3 years ago
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