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3 years ago

1. Do you think the day will come when people no longer use cash? Why, or why not?

1 answer:

5 0

I think now I’m present day that money is now being transferred online and email services I think cash for no longer be used in the future because the rise of technology and how everyone is now getting so used to it and depending on tech

It would be positive it would be more clear to people and for the younger generation to learn about but for the older generation it would be much harder and would be a negative affect on them since they didn’t use technology in their days and a lot of people are still used to cash

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Assume that the total cost of a project is $570,000 and that it is fully depreciable using a straight-line method over 6 years.

Lera25 [3.4K]

Answer:

So the depreciation in year 1 is $95,000

Explanation:

Depreciation is the accounting method that is used to allocate cost of an asset over its useful life. It is assumed that an asset losses values over a period and the salvage or terminal value is the value of the good after its useful life has ended.

Straight line method of depreciation assumes equal allocation of depreciation expense over the useful life of an asset.

In the given the asset value is $570,000 and the terminal value is $0

Using the formula

Depreciation= (Value of asset- Salvage value)/Number of useful years

Depreciation= (570,000-0)/6

Depreciation= $95,000 paid equally for 6 years

So the depreciation in year 1 is $95,000

4 0

4 years ago

Over the last year, Eli has been working very hard and his employer has taken notice by giving him a 6% raise in his salary. Dur

ELEN [110]

Answer:

b increased by 2%.

Explanation:

Increase in real wage = 6% - 4% = 2%

7 0

3 years ago

Janet wants to calculate the real growth rate for the US between 2010 and 2011. She has the follow information: real GDP in 2010

Zina [86]

Answer:

The answer is 3.3%

Explanation:

Percentage growth rate is

New figure - Old figure /old figure x 100%

Real GDP in 2011 is $15.5 trillion

Real GDP in 2010 is $15 trillion

So we have $15.5 - $15/$15 x 100%

$0.5/$15 x 100%

0.033 x 100%

3.3% is the growth rate between 2011 and 2010.

Alternatively, new figure - old figure - 1

$15.5/15 - 1

1.033 - 1

0.033

Expressed as a percentage

0.033 x 100%

3.3%

8 0

4 years ago

"Your customer, age 68, who has an IRA account at your firm valued at $500,000, passes away. The customer leaves the account to

vredina [299]

Answer:

My best advice for the spouse would be to designate herself as the new account owner, and since she is 62, she can start taking regular distributions from it. Any distributions that she takes will be taxed as ordinary income (the same rule would have applied to the late husband).

Explanation:

If she had her own IRA account (which is doubtful since she doesn't work), she could also roll over her late spouse's balance into her own account.

The wife's third option would be to treat herself as a beneficiary, not the owner or spouse, but that would only complicate things and result in higher costs.

5 0

3 years ago

Based on the segment income statement below, Chips, Inc. is considering eliminating its Barbecue Division line. Revenue from Bar

zloy xaker [14]

Answer: Decrease by $70000

Explanation:

Before the Barbecue Division is eliminated, the profit gotten will be:

Revenue from Barbecue Division sales = $510,000

Less: Salaries = $110000

Less: Direct material = $315000

Profit = $70000

Therefore, based on the analysis above, If Barbecue Division were eliminated, profitability would decrease by $70000

7 0

3 years ago