1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Salsk061 [2.6K]
3 years ago
10

Albatross Company purchased a piece of machinery for $60,000 on January 1, 2019, and has been depreciating the machine using the

double-declining-balance method based on a five-year estimated useful life and no salvage value. On January 1, 2021, Albatross decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life did not change. Ignore income taxes.
Required:
a. What type of accounting change is this, and how should it be handled?
b. Prepare the journal entry to record depreciation for 2017. Show all calculations clearly.
Business
2 answers:
elena-14-01-66 [18.8K]3 years ago
7 0

rkslirs

itss

irslursu..zurxru

d

natita [175]3 years ago
3 0

Answer:

Currently, the income statement for company reflects a total period cost for depreciation of $7,876,000

You might be interested in
In March 2018, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF p
kiruha [24]

Answer:

The rate of return is 7.20%

Explanation:

a)  Assuming you purchased the bond for $880, in order to calculate the rate of return you earn if you held the bond for 25 years until it matured with a value $5,000 we would have to calculate the following formula:

Rate of Return = [FV/PV]1/n - 1

Rate of Return= [$5,000 / $880]1/25 - 1 = [5.6818]0.04 - 1 = 1.0720 - 1 = 0.0720, or 7.20%

Rate of Return= [5.6818]0.04 - 1

Rate of Return= 1.0720 - 1

Rate of Return=0.0720, or 7.20%

The rate of return is 7.20%

5 0
2 years ago
Your manager has asked you to recommend which one of two new types of digital camera to buy for your company's publications depa
Cerrena [4.2K]

Answer:

website

Explanation:

Based on the information provided within the question it can be said that the best source of information for this scenario would be a website. Any website that provides information regarding the specs and abilities of the cameras that you are considering purchasing would provide the most helpful information in your decision buying process.

7 0
3 years ago
Imagine that you are a management coach and one of your clients, a new manager, says, "I’ve heard that about two thirds of manag
Schach [20]

Answer:

I think 1 and 3

Explanation:

8 0
3 years ago
An organization characterized by direct two-way lines of responsibility and communication running from the top of the organizati
Anarel [89]

Answer:

Line

Explanation:

The line organization is the organization structure in which the authority and responsibility are communicated from the top to bottom level of management so that the proper coordination could be done at each level of management i.e top, middle and lower.

Moreover, it is a two ways lines of responsibility i.e to be communicated from high to low level of management. Plus it would be reported to one supervisor only

6 0
3 years ago
2. Liquidity Consider the relative liquidity of the following assets: Assets 1. The funds in a savings account 2. A bond issued
Alina [70]

Answer:

The answer is,

Asset

Most Liquid :  $5 bill

Second-Most Liquid : The funds in a savings account

Third-Most Liquid :  A bond issued by a publicly traded company

Least Liquid : Your house

The liquidity simply measures the ability to turn in to cash in a relatively short period of time. Cash at hand is the most liquid while property and other movable and immovable assets tends to be a bit difficult to be turned into cash quickly.

Explanation:

6 0
3 years ago
Other questions:
  • A company that produces a popular brand of pasta decides against increasing product price. instead, the management decides to de
    7·1 answer
  • The use of communication technologies such as videoconferencing and networks has enabled increased
    14·2 answers
  • Data for Hugh’s Corporation is provided below. Hugh’s recently acquired some risky assets that caused its beta to increase by 30
    5·1 answer
  • You are a sales director for a company and have noticed employees are showing up towork dressed inappropriately. customers have
    10·1 answer
  • Joshua borrowed $500 on January 1, 2017, and paid $25 in interest. The bank charged him a service charge of $15. He paid it all
    14·1 answer
  • Today's most successful companies are including _____ directly in the product and service development process.
    7·1 answer
  • A company has the opportunity to take over a redevelopment project in an industrial area of a city. No immediate investment is r
    5·1 answer
  • А.
    9·2 answers
  • Management generally resists allowing employees to manage their own workflow because it decreases their motiviation. please sele
    15·2 answers
  • Grocery stores are likely to hold ______ inventory of candies to meet the extra demand during halloween.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!