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brilliants [131]
3 years ago
11

Assume that an asset costing $72,000 is expected to produce 500,000 units and have a salvage value of $6,000. The first year, 90

,000 units are produced; the second year, 82,000 units are produced; the third year, 94,000 units are produced. Using the units-of-production method, complete the following:
Year Depreciation Expense Book Value
0 — $72,000
1 fill in the blank 1 fill in the blank 2
2 fill in the blank 3 fill in the blank 4
3 fill in the blank 5 fill in the blank 6
Business
1 answer:
anyanavicka [17]3 years ago
3 0

Answer:

depreciable value = $72,000 - $6,000 = $66.000

depreciation expense per unit produced = $66,000 / 500,000 units = $0.132 per unit

depreciation expense year 1 = 90,000 x $0.132 = $11,880

depreciation expense year 2 = 82,000 x $0.132 = $10,824

depreciation expense year 3 = 94,000 x $0.132 = $12,408

Year          Depreciation expense          Book value

0                              $0                             $72,000

1                          $11,880                          $60,120

2                         $10,824                         $49,296

3                         $12,408                         $36,888

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An owner withdrawal of $20,000 would_______.
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An owner who withdraws an amount of $20000 would lead to decrease in the assets and the owner's equity by $20000.

Answer: Option D.

<u>Explanation:</u>

Assets are the things which are owned by the owner of the organisation and provide economic benefits. Liabilities are things which are the obligation on the owner of the company that he has to pay off. Equity is the share of the share holder of the company.

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During the fiscal year ended 2016, a company had revenues of $520,000, cost of goods sold of $375,000, and an income tax rate of
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Answer:

the net income is $92,800

Explanation:

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8 0
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Answer:

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RRR = 0.0829 = 8.29%

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