Answer:
$27,400 and $59,600
Explanation:
The computation of the depreciation expense and the book value using the sum of-the-years'-digits method is shown below:
Depreciation expense is
= (Purchase cost - residual value) × useful life ÷ sum of years
= ($87,000 - $4,800) × 5 years ÷ (5 + 4 + 3 + 2 + 1)
= $27,400
And, the book value is
= Purchase cost - depreciation expense
= $87,000 - $27,400
= $59,600
I saw on quizlet.com that the answer to this question is $199,000 and that number appears to be one of your choices. If I were you I would choice C.
Answer:
Hmm.
Explanation:
- Why should you memorize your social security number rather than carry your social security card in your wallet?
One big reason why you should NOT carry your social security number on you is that you could get robbed at ANY moment. And if someone has your Social security number, then they could slander your name.
- Explain why you will need to provide your social security number to employers.
You will need to provide your social security number to employers because they need to make sure that you are you.
<em>'Why do employers need my social security number? If an employer decides to extend you an offer, they will eventually need your social security number to verify your identity and work authorization and perhaps to complete a background check. However, they don't need it in the initial hiring phase.'</em>
Answer:
A decrease in the price of domestically produced industrial robots will be reflected in the GDP deflator but not in the consumer price index.
<u>Explanation:</u>
Although from the outset, CPI and GDP Deflator might measure something very similar, there are a couple of key contrasts. The first is that GDP Deflator incorporates just local merchandise and nothing that is imported. This is diverse because the CPI includes anything purchased by buyers, including remote merchandise.
The subsequent contrast is that the GDP Deflator is a proportion of the costs all things considered and benefits while the CPI is a proportion of just merchandise purchased by shoppers.
Answer:
a. Journal entry to record the issue of notes
Date Account Title & Explanation Debit $ Credit $
Jan 1 Cash 350,000
Notes Payable 350,000
(To record the issue of notes payable)
b. Calculation of Interest Expenses
Particulars Amount $
Beginning balance of loan payment 350,000
Annual interest rate 4%
Interest expenses 14,000
Hence the interest expenses = $14,000
Principal amount is calculated as the difference between the annual payment and the interest expenses as seen below
Particulars Amount $
Annual payment 96,590
Less: Interest expenses 14,000
Principal Payment 82,590
Hence, the principal payment =$82,590
