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Svetlanka [38]
3 years ago
7

Prior to 2021, John Inc. used sum-of-the-years'-digits depreciation on its store equipment. Beginning in 2021, John Inc. decided

to use straight-line depreciation for these assets. The equipment cost $3 million when it was purchased at the beginning of 2019, had an estimated useful life of five years and no estimated residual value. To account for the change in 2021, John Inc.:_______
Business
1 answer:
TEA [102]3 years ago
4 0

Answer:

Would report depreciation expense of $400,000 in its 2021 income statement

Explanation:

Calculation to determine what John will report as depreciation expense

First step is to calculate the Book value at 1/1/2021

Book value at 1/1/2021= $3,000,000 [(5/15 x $3,000,000) + (4/15 x $3,000,000)

Book value at 1/1/2021= $1,200,000

Now let calculate the New depreciation

New depreciation= $1,200,000 ÷3

New depreciation= $400,000 per year for 2021-2023

Therefore To account for the change in 2021, John Inc.:Would report depreciation expense of $400,000 in its 2021 income statement

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Kenji has had an illness and an accident during the year. His combined out-of-pocket expense for both incidents was $1,000. The
AfilCa [17]

Answer:

b. Deductible

Explanation:

Since in the question it is mentioned that Kenji who had an illness and had an accident during the year also the combined out of pocket expenses is $1,000.

So this $1,000 represent the deductible

hence, the correct option is b.

And the other options are wrong

Therefore the same is to be considered

7 0
3 years ago
Bob, an accountant of xyz, drives his own car to the bank to make a deposit for xyz. bob has an at-fault accident. if xyz carrie
densk [106]
<span>The answer is : No coverage for xyx.  Bob, an accountant of xyz, drives his own car to the bank to make a deposit for xyz. bob has an at-fault accident. if xyz carries $1,000,000 bodily injury/property damage coverage with a symbol 2 for covered autos, and bob carries no insurance, No coverage is applicable for xyz.  </span>
7 0
3 years ago
you make a clay pot for $10 and sell it to a customer for $40. what is your economic surplus associated with the transaction?
Bess [88]

The transaction's surplus in terms of the economy $30

<h3>Which principle states that the next-best choice you must forego in order to have something is its true cost?</h3>

The idea of opportunity cost, which states that the opportunity lost as a result of a decision, determines the true cost of an economic decision, is closely tied to the principle of substitution.

<h3>What is a sunk cost, give an example, and explain why it doesn't matter when deciding what to do in the future?</h3>

Sunk costs are viewed as bygone in economic decision-making and are not taken into account when determining whether to continue an investment project. Spending $5 million to establish a plant that is expected to cost $10 million is an example of a sunk cost.

To Know more about sunk cost

brainly.com/question/20438089

#SPJ9

3 0
1 year ago
Ben bought a local artist's painting for $2,100. Several years later. Ben sold it for $2,700. The year Ben sold the painting. He
slega [8]
The correct answer is C: 28%

to solve you have to subtract the amount of change, so 2700-2100= 600
then you take 600 divide by the original number which is 2100. so your equation is change divided by original, or in this case 600/2100, when you divide the equation you get an answer of 0.28, you then have to move the decimal 2 places to the right, to get an answer of 28%

hope this helped! :)
4 0
3 years ago
Vocabulary Word
77julia77 [94]

Answer:

Explanation:

A tool for organizing important  information about the competition.

competitive matrix

Those most likely to buy your products  and services

target customers

The distribution channel through which  your product or service flows from the  producer to the customer. value chain

A distinct aspect, quality, or characteristic  of a product or service

feature

Something that promotes or enhances the  value of the proctor service to the  customer. benefit

A group of businesses with a common  interest, such as financial services,  computers, retail, or groceries. industry

End-users of the service. Beneficiaries

Working model of a new product.  Describes how you intend to create and

capture value with your business concept. prototype

4 0
3 years ago
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