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
ozzi
2 years ago
11

A Kubota tractor acquired on January 8 at a cost of $315,000 has an estimated useful life of 10 years. Assuming that it will hav

e no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 31,500 $fill in the blank 2 31,500 b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar.
Business
1 answer:
grandymaker [24]2 years ago
8 0

Answer:

A. Year 2 $31,500

Year 2 $31,500

B. Year 1 = 63,000

Book Value of Tractor $252,000

Year 2 $ 50,400

Book Value of Tractor $201,600

Explanation:

a. Calculation to Determine the depreciation for each of the first two years by the straight-line method

Year 1 = $315,000 / 10

Year 1 = $31,500

Year 2 = $315,000 / 10

Year 2= $31,500

B) Calculation to determine the depreciation for each of the first two years by the double-declining-balance method

Based on the information given we are first going to calculate the percentage of depreciation using straight line method and then double it

Percentage = $ 315,000 *10%

Percentage=$31,500

Now let depreciation the book value each year by 20% Using the double-declining-balance method method

Year 1=20% of $ 315,000

Year 1= 63,000

Book Value=$315,000 - $63,000

Book Value= $ 252,000

Year 2= 20% of 252,000

Year 2 = $ 50,400

Book Value=$ 252,000 -$50,400

Book Value= $201,600

You might be interested in
Which of the following is an external driver of change? A. talent shortages B. budget changes C. top management D. deregulation
matrenka [14]

answer.

the answer is b.budget changes.because the external driver of changes is something that drives changes to business.

3 0
3 years ago
A business organization needs to make up a 5 member fund-raising committee. The organization has 10 accounting majors and 8 fina
miss Akunina [59]

Answer:

The fund raising committee can be organized in 3,276 different ways.

Explanation:

The committee can have the following structures:

Accounting majors            Finance majors

        0                                          5

        1                                           4

        2                                          3

C(10,0) x C(8,5) = (10! / 10!) x (8! / 3!5!) = 1 x 56 = 56

C(10,1) x C(8,4) = (10! / 9!1!) x (8! / 4!4!) = 10 x 70 = 700

C(10,2) x C(8,3) = (10! / 8!2!) x (8! / 5!3!) = 45 x 56 = 2,520

total possibilities = 2,520 + 700 + 56 = 3,276

                               

6 0
3 years ago
The failure to record which transaction has no effect on the quality of inventory?
zimovet [89]

Do not record transactions that do not affect inventory quality. A recorded inventory transaction has actually taken place.

Records of inventory purchases made during the accounting period. The purchase account is increased by direct debit. The manufacturing costs of the goods sold are overestimated by the same amount. An overstatement of cost of goods sold will result in an understatement of net income and retained earnings by the original margin of error.

If the auditor is dissatisfied with the accuracy of the closing balance sheet and may be materially increase.

Inventory write-downs affect both the income statement and the balance sheet. Write-offs are treated as expenses. This means your net income and tax liability will be reduced. Therefore, a decrease in net income will reduce a company's retained earnings and reduce shareholders' equity on the balance sheet.

Learn more about inventory at

brainly.com/question/25887081

#SPJ4

4 0
2 years ago
As Lily files her taxes, she learns that her federal total tax due ends up being $206. According to her Federal income tax withh
adoni [48]

The tax refund that Lily can expect to get back from the tax authorities will be $15.80.

<h3>What is a tax?</h3>

A tax simply means the compulsory levy that's paid by the people and companies to the government.

In this case, the tax refund that Lily can expect back will be:

= 7.65% × $206

= $15.80

In conclusion, the correct option is $15.80.

Learn more about tax on:

brainly.com/question/25783927

8 0
2 years ago
The points are only for ppl who have 12 to 20 points
icang [17]
Omg you’re the best thank you so much lol I have questions on my account if u wanna help bahah
4 0
3 years ago
Read 2 more answers
Other questions:
  • Because the demand for wheat tends to be inelastic. True or False
    13·1 answer
  • The current U.S. dollar-yen spot rate is 125¥/$. If the 90-day forward exchange rate is 127 ¥/$ then the yen is selling forward
    7·2 answers
  • William pays his $500 premium every 6 months for automobile insurance with collision coverage. His deductible is $750. William c
    13·2 answers
  • An opportunity has the following four essential qualities: ________.
    5·1 answer
  • State and explain the law of diminishing marginal return
    9·1 answer
  • _____________ is when your company makes an effort to actively control and shape your brand image with your target market.
    5·1 answer
  • Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had ap
    15·1 answer
  • The future of work is characterized by (choose all that apply):
    11·1 answer
  • Question 9 of 10
    12·1 answer
  • Nation Beta employing all its available resources nation alpha can produce either 800 units of chemicals or 1,600 units of cloth
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!