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Sladkaya [172]
2 years ago
11

On its December 31, 2017, balance sheet, Calgary Industries reports equipment of $470,000 and accumulated depreciation of $94,00

0. During 2018, the company plans to purchase additional equipment costing $100,000 and expects depreciation expense of $40,000. Additionally, it plans to dispose of equipment that originally cost $52,000 and had accumulated depreciation of $7,600. The balances for equipment and accumulated depreciation, respectively, on the December 31, 2018 budgeted balance sheet are:
Business
1 answer:
Nadya [2.5K]2 years ago
3 0

Answer:

The cost balance on 31 December 2018 is $518,000 while that of accumulated depreciation is $126,400

Explanation:

The balance of fixed assets is computed as

Opening balance - accumulated depreciation - depreciation + Addition - Disposal

Hence given that on December 31, 2017, Calgary Industries reports equipment of $470,000 and accumulated depreciation of $94,000. During 2018, the company plans to purchase additional equipment costing $100,000 and expects depreciation expense of $40,000, Additionally, it plans to dispose of equipment that originally cost $52,000 and had accumulated depreciation of $7,600 the balance then

= $470,000 + $100,000 - $52,000

= $518,000

The accumulated depreciation

= $94,000 + $40,000 - $7,600

= $126,400

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Under those circumstances, the objective of the entity is to be forgiven for not meeting its payment obligations for a certain period while restructuring its operations to keep the business up and running.

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6 0
3 years ago
Read 2 more answers
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Lilit [14]

Answer:

$31.00

Explanation:

Calculation to determine what The total standard cost of Vaughn's product is

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6 0
2 years ago
" Suppose there are only two firms in an economy: Cowhide, Inc. produces leather and sells it to Couches, Inc., which produces a
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Switching costs, the number of buyers, and if the items represent a relatively small portion of the cost of finished products ar
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Switching costs, number of buyers, and if the items represent a relatively small portion of the cost of finished products are key considerations regarding the bargaining power of buyers.

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Hence, most prevailing switching costs are monetary in nature.

To learn more about switching costs here:

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