Answer:
a. Straight-Line method:
Year depreciation = (Cost - Residual value) / useful life
= (130,000 - 10,000) / 6
= $20,000
2019 = $20,000 2020 = $20,000
b. Double declining.
= Twice the rate of straight-line.
= 1 / 6 * 2
= 33%
2019 2020
= 130,000 * 33% = (130,000 - 42,900) * 33%
= $42,900 = $28,743
c. Units of Production:
Rate per unit = (Cost - residual) / Number of units in lifetime
= (130,000 - 10,000) / 1,000,000
= $0.12 per unit
2019 2020
= 180,000 * 0.12 = 140,000 * 0.12
= $21,600 = $16,800
Answer:
a. Structural unemployment
b. Seasonal unemployment
c. Cyclical unemployment
d. Seasonal unemployment
Explanation:
The unemployment George is involved in is structural because the perceived value and skills George possess is no more needed in the steel industry where he works and at Chicago land area where he moved to since there are now newer skills that could make work more efficient within the steel firms.
Leo in his case is battling with a seasonal unemployment as there are industries that operates in certain season(Time) of the year and not others. in January, when the winter is intense, construction work might not be feasible due to the high rate of snow fall in the period.
Kim suffered from a cyclical unemployment because there is a need to prioritize some things above the other due to the recession in the country. people will focus more on how to solve their immediate problem such as putting food on the table and clothe as well as housing, The need for the purchase of computers will drastically drop at this point in time.
Lastly, Becky, a recent graduate from college is also suffering from a seasonal unemployment because of the time she graduated from college.
Answer:
Income = $8,200
Less:
Federal tax 10% = -$820
State tax at 5.5% = -$451
FICA at 7.65% = -$627.30
Total deduction = -$1,898.30
Net pay = $6,301.70
Answer:
Depreciation (debit) $1,230
Accumulated Depreciation - Riding Mower (credit) $1,230
Explanation:
Straight Line Method of Depreciation, charges the same amount of depreciation over the useful life of the asset.
Depreciation Charge = (Cost - Residual Value)/ Useful Life
<em><u>2017</u></em>
Depreciation Charge = ($15,200 - $2,900)/ 10-years
= $1,230
<em>Recognize the depreciation expense to Profit and Loss and Accumulate the Depreciation Charge in Financial Statement through Accumulate Depreciation Account.</em>
Depreciation (debit) $1,230
Accumulated Depreciation - Riding Mower (credit) $1,230
