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Helen [10]
3 years ago
9

Clayton, inc. purchased a van on january 1, 2016, for $850,000. estimated life of the van was five years, and its estimated resi

dual value was $91,000. clayton uses the straight-line method of depreciation. at the beginning of 2018, the company revised the total estimated life of the asset from five years to four years. the estimated residual value remained the same as estimated earlier. calculate the depreciation expense for 2018.
a.$227,700
b.$113,850
c.$136,600
d.$273,200
Business
1 answer:
Lilit [14]3 years ago
3 0
A) 227,700
Depreciation per year = (Cost - Residual value) / Useful life
Depreciation per year = ($850,000 - $91,000 ) / 5 = $151,800
Depreciation provided in the books = $151,800 Ãâ€" 2 years = $303,600
<span>Revised depreciation for the year 2018 = ($850,000 - $303,600 - $91,000 ) / 2 = $227,700</span>
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b. both firms will reduce their price.

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2 years ago
Four basic steps are used in an abc system. list the proper order of these​ steps, which are currently scrambled​ below:
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First Identity the primary activities
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3 years ago
Check my work Check My Work button is not enabled Item 4 Item 4 1 points Item Skipped The following data from the just completed
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Answer:

Instructions are listed below

Explanation:

Giving the following information:

Sales $ 660,000

Direct labor cost $ 86,000

Raw material purchases $ 135,000

Selling expenses $ 109,000

Administrative expenses $ 46,000

Manufacturing overhead applied to work in process $ 205,000 Actual manufacturing overhead costs $ 225,000

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Work in process $ 5,000 $ 20,600

Finished goods $ 74,000 $ 25,900

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Ending inventories Raw materials $ 10,800  (-)

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Ending Work in process $ 20,600 (-)

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Ending finished goods $ 25,900 (-)

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6 0
2 years ago
Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The two companies are exactly alike
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Quick ratio is 1.47.

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Learn more about quick Ratio here

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