1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
krek1111 [17]
2 years ago
5

On January 1, 2022, the Ivanhoe Company ledger shows Equipment $48,300 and Accumulated Depreciation $17,720. The depreciation re

sulted from using the straight-line method with a useful life of 10 years and a salvage value of $4,000. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value. Compute the revised annual depreciation.
Business
1 answer:
Cerrena [4.2K]2 years ago
8 0

Answer:

$13,290

Explanation:

Straight line depreciation expense = (book value of asset - salvage value ) / useful  life

Book value of the asset = $48,300 - $17,720 = $30,580

($30,580  - $4,000) / 2 = $13,290

You might be interested in
Assuming Digby’s current market share for its Drat product remains the same, how many units of Drat should Digby expect to sell
marshall27 [118]

Available Options Are:

A. 401 units

B. 294 units

C. 441 units

D. 305 units

Answer:

Option C. 441 Units

Explanation:

The first thing would be to analyze the situation. It is crystal clear in the Accessibility Elite table that the accessibility of Digby products are 2nd largest among the rival companies.

Now we will look at whether the company has taken advantage of its second largest accessibility position or not. This can be seen in Actual Vs Potential Market Share table. The units produced were sold in the year which means that the accessibility of the product is even more than its rivals as the market share captured in the year by Digby is above 40%. This means that their is an increased demand for Digby's Product. This can also be seen by segment growth rate in the Elite Statistics (Top Left Corner) which is anticipated to be at 16%.

All these things says that Digby must produce as much as possible, hence quantity would be a greater number.

3 0
3 years ago
This information relates to Monty Real Estate Agency.
kotykmax [81]

Answer:

                                 Journal Entries

Date        Account Titles and Explanation      Debit       Credit

Oct. 1       Cash                                                  $34,040

                     Common Stock                                           $34,040

              (To record the cash is invested in the business)  

Oct. 2 No Journal Entry                               $0

Oct. 3      Office Furniture                                  $4,110

                    Accounts Payable                                         $4,110

               (To record the purchase of office furniture on account)  

Oct. 6      Accounts Receivable                          $10,780

                       Service Revenue                                         $10,780

                 (To record the services provided but cash is not yet collected)

Oct. 10      Cash                                                    $165

                      Service Revenue                                           $165

                (To record the services provided by cash)  

Oct. 27      Accounts Payable                              $690

                        Cash                                                             $690

                 (To record the payment made on accounts payable

                  relating to office furniture)  

Oct. 30      Salaries Expense                                 $2,740

                         Cash                                                           $2,740

                  (To record the payment of salaries to the assistant)

3 0
3 years ago
Definition of economic costs manuel lives in san diego and runs a business that sells guitars. in an average year, he re
Mice21 [21]
What was the question?
8 0
3 years ago
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on
daser333 [38]

Answer:

1. Determine the total compensation cost pertaining to the restricted stock.

  • 30 million x $14 = $420 million

2. Prepare the appropriate journal entries

December 31, Year 1:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 2:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 3:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 4:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

January 1, Year 4, the stocks are handed out:

Dr Additional paid in capital - restricted stock 420,000,000

    Cr Common stock 420,000,000

6 0
3 years ago
North Airline Company is considering expanding its territory. The company has the opportunity to purchase one of two different u
-Dominant- [34]

Answer:

First Airplane Payback Period = 3 years

Second Airplane Payback Period = 4 years

Since, First Airplane is going to repay the Original Cost of the Airplane in shorter amount of time as compared to Second Airplane. Therefore, if the the decision is based on the payback approach the North should accept First Airplane.

Explanation:

NORTH AIRLINE COMPANY

<u>First Airplane:</u>                

Payback Period = Original Cost of the Asset / Annual Cash Inflow

Payback Period = $12,000,000 / $4,000,000

Payback Period = 3 years

<u>Second Airplane:</u>

Payback Period = Original Cost of the Asset / Annual Cash Inflow

Payback Period = $24,000,000 / $6,000,000

Payback Period = 4 years

3 0
3 years ago
Read 2 more answers
Other questions:
  • Turnbull Corp. is in the process of constructing a new plant at a cost of $30 million. It expects the project to generate cash f
    13·2 answers
  • Mister Plow has contracted to perform snow removal services for the city of Springfield. Record snowfall has more than doubled t
    7·1 answer
  • Consider the following production and cost data for two products, Q and P: Product Q Product P Contribution margin per unit $35
    9·1 answer
  • In a task assignment situation, in how many different ways can five jobs be assigned to five machines if each job must be assign
    10·1 answer
  • Carver Packing Company reports total contribution margin of $72,000 and pretax net income of $24,000 for the current month. In t
    15·1 answer
  • katie, a salesperson for so1 computers, is faced with an objection from one of her prospects. the prospect says that the fraphic
    6·1 answer
  • The following legal claims exist for Huprey Co. Identify the accounting treatment for each claim as either (a) a liability that
    12·1 answer
  • Using the following accounts and an overhead rate of 80% of direct labor cost, determine the amount of applied overhead. Work in
    9·1 answer
  • The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies
    14·1 answer
  • What significance is hiring the right candidate to a bussines success?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!