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Montano1993 [528]
3 years ago
6

Sorter Company purchased equipment for $330,000 on January 2, 2019. The equipment has an estimated service life of 8 years and a

n estimated residual value of $33,000 . Required: Compute the depreciation expense for 2019 under each of the following methods: Straight-line: $ fill in the blank 1 Sum-of-the-years'-digits: $ fill in the blank 2 Double-declining-balance: $
Business
1 answer:
Makovka662 [10]3 years ago
5 0

Answer:

1. Depreciation expense for 2019(Straight-line)= (Cost of the assets - Salvage value) / life of the assets

= ($330000 - $33000)/8

= $37,125

2. Sum-of-the-years'-digits = 1+2+3+4+5+6+7+8 = 36

Depreciation Expense for 2019(Sum-of-the-years'-digits method)

= ($330000 - $33000)*8/36

= $66,000

3. Double-declining-balance depreciation rate = (100/8 years)*2 = 25%

Depreciation Expense for 2019 = 330000*25% = $82,500

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Ugo [173]

Answer:

The answer is option (A) Dr 4,800

Explanation:

Solution

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When it is brought forward to next year, this GH₵ 2,400 has to be cancelled once by debiting to suspense account.

Also. it want 2400 to credit the balance in prepaid insurance ledger, it need or require to be credited and debited to suspense account with 2400 balance.

Now, this combined debit to suspense account will result to 4800 (2400 +2400).

8 0
3 years ago
Jack, Jill and Maritza are employed as sales persons for Deuce Hardware Supplies. None was hired for a definite period and each
Natali [406]

Answer:

Jack has claim while Jill didn't have.

Explanation:

Jack has claim against Deuce Hardware because his performance is tremendous and make more sales for the company. He done his work very well so he can claim against Deuce Hardware Supplies while on the other hand, Jill has no claim against Deuce Hardware because he commit a crime on the basis of which the company has the authority to terminate him from the job. He works very well in the company but his crime is big enough to terminate him.

5 0
3 years ago
Carla has $10,000 that she would like to save for retirement.
coldgirl [10]

Answer:

higher, stocks, flunctuates, risk, bonds, interest

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Stocks belong to the owners of an organisation and as such, they are only entitled to interest after the interests of bond owners and preference stock holders have been settled. Meaning, despite the higher rates of interest offered, it is riskier to be a stock holder than a bond holder

Bond on the other hand, are not equity or company ownership units, they represent debts that the company must pay fixed interest rates on. Although we have the convertible to stock and the non-convertible bonds. However, bonds may be safer due to the fixed interest rates that must be paid but interests are lesser than stocks and irrespective of a company's profitability, a bond holder is only entitled to the fixed interest rate unlike the stock holder who enjoys higher dividends as a result of improved profitability.

4 0
3 years ago
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Lina20 [59]

Answer:

[C] Strike price minus the premium

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Put Buyer's profit is expressed as;

= Strike price -  Option premium paid - Current market price upon expiry

Thus, his NET sales proceeds are equal to his Strike Price as reduced by Option premium paid.

6 0
3 years ago
DESCRIPTION OF THE LAW OF DEMAND
slamgirl [31]

Answer:

The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded

7 0
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