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Feliz [49]
3 years ago
11

Equipment was purchased for $94700 on January 1, 2021. Freight charges amounted to $3800 and there was a cost of $12000 for buil

ding a foundation and installing the equipment. It is estimated that the equipment will have a $25000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2022 if the straight-line method of depreciation is used
Business
1 answer:
musickatia [10]3 years ago
3 0

Answer:

$34,200

Explanation:

Step 1 : Cost of Equipment

<em>Cost of Equipment include Purchase Price plus other costs directly incurred to put the asset in location and condition intended for use by management</em>

Cost of Equipment = $110,500

Step 2 : Depreciation

Depreciation = (Cost - Residual Value)/ Useful Life

                       = $17,100

Step 3 : Accumulated Depreciation

Accumulated Depreciation =  $17,100 x 2 = $34,200

Therefore,

the amount of accumulated depreciation at December 31, 2022 is $34,200

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An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case,
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A. Inelastic

B. a less than 10% increase in quantity supplied

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A supply is inelastic if the price elascitiy is less than 1.

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Which type of store has high sales volume, little service, and prices 20-40 percent lower than supermarkets?
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A realtor is trying to predict the selling price of houses in Greenville (in thousands of dollars) as a function of size (measur
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a. The estimated coefficient for size is approximately <u>13.81</u>.

b. In the regression, two predictors are used. These two predictors are size and fireplace (FP).

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a. The estimated coefficient for size is approximately _____.

Estimated coefficient for size = Standard Error of size * t-Stat of size =  1.2072436 * 11.439 = 13.81

Therefore, the estimated coefficient for size is approximately <u>13.81</u>.

b. How many predictors (independent variables) were used in the regression?

Independent variables can be described as variables that are changed or manipulated in order to measure the effect of their changes on the dependent variable. Independent variables are therefore also called predictors because they employed to predict the dependent variable.

In the regression, two predictors are used. These two predictors are size and fireplace (FP).

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Which of the following theorems explains the relationship between interest rates and bond prices? For a given change in interest
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Answer:

For a given change in interest rates, the prices of long-term bonds will change more drastically than the prices of short-term bonds.

Explanation:

A bond can be defined as a fixed income instrument that firms use as a source of longer-term funding or loans.

The par value of a bond is its face value and it comprises of its total dollar amount as well as its maturity value. Also, the par value of a bond gives the basis on which periodic interest is paid. Thus, a bond is issued at par value when the market rate of interest is the same as the contract rate of interest. This simply means that, a bond would be issued at par (face) value when the bond's stated rated is significantly equal to the effective or market interest rate on the specific date it was issued.

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Generally, bond price is inversely proportional to its interest rate, thus, when interest rates are high, bond prices would be low and when interest rates are low, bond prices are high.

The theorem that best explains the relationship between interest rates and bond prices is that for a given change in interest rates, the prices of long-term bonds will change more drastically than the prices of short-term bonds because long-term bondholders are liable to higher rate of interest rate risks than the short-term bondholders.

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