Which of the following are examples of chemical energy being released or stored?

In a lump-sum purchase of assets, the cost must be allocated to the individual assets because:______

vlada-n [284]

In a lump-sum purchase of assets, the cost must be allocated to the individual assets because every individual asset has a different useful life and different depreciation rate. Depreciation is the methodical distribution of an asset's depreciable value over the course of its useful life.

The cost of an asset, or another quantity substituted for cost, less its residual value, is its depreciable amount. Depreciation can take many different forms, including the accelerated and the straight-line depreciation.

An accountant records depreciation for all the capitalized assets that have not yet been fully depreciated at the conclusion of an accounting period.

To learn more about depreciation, click here

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4 0

2 years ago

A company is planning to purchase a machine that will cost $24,000 with a six-year life and no salvage value. The company expect

Artyom0805 [142]

Answer:

The correct option is 4 years

Explanation:

Payback period is the length of time it takes an investment to repay itself.By repaying itself I meant the time horizon taken for the initial capital outlay from a project to be recovered.

Payback period=initial investment /net annual cash inflow

initial investment is the $24,000 spent in acquiring the new machine

net annual cash flow =net income+depreciation

depreciation is added because it is not a cash flow in real sense

net annual cash flow=$2000+$4000=$6000

payback period=$24,000/$6000= 4 years

6 0

3 years ago

Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant ra

Crank

Answer:

0.6

Explanation:

Variable Expense Ratio is calculated by taking Variable Expense and dividing it by Sales. This ratio indicates how much of the variable expense is incurred by company for each $1 Sales.

So, variable expense ratio is .6 or 60% (33,000 / 55,000).

Such questions also require the calculation of Contribution Margin Ratio which is calculated by taking Contribution Margin and Dividing it by Sales. This ratio tells us how much the company generates after covering variables expenses when the sales are $1.

So, Contribution Margin Ratio is .4 or 40% (22,000 / 55,000).

7 0

3 years ago

Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the current calendar year

aalyn [17]

Answer:

Pension Expense = $29,200,000

Explanation:

As per the data given in the question,

1)

Service cost = $25,000,000

Interest cost = $15,000,000

Expected return on the plan assets = $10,800,000

( 12% × $90,000,000)

Pension Expense = $29,200,000

($25,000,000 + $15,000,000 - $10,800,000)

2)

Journal entries to record the pension expense :

Pension expense A/c Dr. $29,200,000

To accrued pension cost A/c $6,200,000

To Cash A/c $23,000,000

($29,200,000 - $6,200,000)

3 0

3 years ago

Merchandise accounts and computations LO C2. Kleiner Merchandising Company Accumulated depreciation $700 Beginning inventory 11,

Assoli18 [71]

Answer:

(A) Kleiner Merchandising Company:

Goods available for sale = $24,500

Cost of goods sold = $17,900

Gross profit = $3,600

Net income = $1,550

(B) Krug Service Company:

Net income = $16,300

Explanation:

(A) Kleiner Merchandising Company:

Goods available for sale:

= Beginning inventory + Net purchases

= $11,000 + $13,500

= $24,500

Cost of goods sold:

= Goods available for sale - Ending inventory

= $24,500 - $6,600

= $17,900

Gross profit = Net sales - Cost of goods sold

= $21,500 - $17,900

= $3,600

(b) Kleiner Merchandising Company:

Gross profit = $3,600

Net income = Gross profit - Expenses

= $3,600 - 2,050

= $1,550

Krug Service Company:

Net income = Revenues - Expenses

= $26,000 - $9,700

= $16,300

4 0

3 years ago