Answer:
The depreciation expense for the first two years is $72,000.
Explanation:
Under straight-line method, depreciation expense is (Cost - Residual value) / No of years = ($400,000 - $40,000) / 10 years = $36,000 yearly depreciation expense.
Using this method, the depreciation expense for the first two years is $36,000 x 2 years = $72,000. This amount is regarded as the accumulated depreciation at the end of Year 2 while the net book value would be $400,000 - $72,000 = $328,000.
Answer:
$885,000
Explanation:
How you are going to report the assets depends on whether you want to use the current rate method or the temporal (historic) method. Under the temporal method, you should use the historical rates, therefore, the total amount reported on the balance sheet is $885,000. if you want to use the current rate method, you should report the assets at $755,000, but you must also report an unrealized loss = $885,000 - $755,000 = $130,000 in the cumulative translation adjustment account. The total amount reported will not change, only the way you report it will change.
Answer:
a. is liable to purchasers as a manufacturer/seller of toys.
Explanation:
Mattel is the producer of the toys even if it was it's manufacturer in China that made the toys. Using lead paint can lead to poisoning of children. So the toys produced can be considered to be harmful and defective.
The manufacturer of a product has a product liability on every good delivered to the consumer. Product liability is that borne by the manufacturer of a good for putting defective product in the hand of the consumer.
So for any damage or health issues that come up as a result of use of the toys, Mattel is liable.
The answer is 52500 for 25% from 42000 = 10500 so 42000+10500=52500
