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Ulleksa [173]
3 years ago
13

A refrigerator used by a wholesale warehouse has a cost of $64,000, an estimated residual value of $5,200, and an estimated usef

ul life of 12 years. What is the amount of the annual depreciation computed by the straight-line method
Business
1 answer:
PilotLPTM [1.2K]3 years ago
3 0

Answer:

(64,000- 5,200 = 58,800).

Explanation:

Subtract your originial cost from the residual value. (64,000- 5,200 = 58,800).

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The most important fundamental component of an entity's internal control is:
rosijanka [135]

Answer:

b) People who operate and function within the control system.

Explanation:

Internal controls are the process and mechanisms that an organization puts in place to ensure the integrity of its accounting and financial information. Internal control helps a business achieve operational efficiency and effectiveness. It ensures that a company financial reporting complies with the relevant laws, policies, and regulations.

The people working in internal control determines whether the mechanisms will succeed or fail.  Employees assigned in internal control must be of high integrity and be able to discharge their duties without fear or favor.  Internal control protects company resources from theft, wastage, or misuse. For internal control to achieve its purpose, the Individuals in that department must not comprise in any situation.

6 0
3 years ago
The following data relate to direct labor costs for August: actual costs for 5,500 hours at $24.00 per hour and standard costs f
Marianna [84]

Answer: c. $1,650 unfavorable

Explanation:

The direct labor rate variance shows the difference between the cost of direct labor that the company thought it would incur vs what it actually incurs for the period.

Formula is:

Direct labor rate variance = Actual cost of direct labor - Standard cost of actual hours of direct labor

= Actual hours * (Actual cost - Standard cost)

= 5,500 * (24 - 23.70)

= $1,650 unfavorable

Unfavorable because the actual cost incurred was more than the cost anticipated.

7 0
3 years ago
1. Under a shipment contract, the seller is required only to the goods into the hands of a carrier and title passes to the buyer
taurus [48]

Answer:

<h2>1) The answer is option a) or True.</h2><h2>2) Generally all contracts are assumed to be <u>Shipment </u> contracts if nothing to the contrary is stated in the contract.</h2><h2>3) The seller is required to deliver the goods to a particular destination in a destination contract,usually directly to the <u>buyer</u><u>.</u></h2><h2>4) The answer is option a) or True.</h2><h2 />

Explanation:

  1. A shipment contract mandates that the seller of any good or service is obligated to deliver the specified shipment to a common carrier for delivery to the buyer but not directly to the buyer's destination.Under  the shipment contracts,the seller is not responsible for the condition of the shipment or package during the delivery point and time to the buyer.
  2. If nothing is specifically mentioned in the contract regarding the delivery of the shipment,it assumably qualifies as a shipment contract and the seller is only liable to dispatch the shipment to the transportation carrier and not obligated to send it directly to the buyer's destination.
  3. Under a destination contract,the seller is officially obligated to dispatch the concerned goods or shipment directly to the buyer's actual destination.Hence,the seller's obligation is incomplete until the shipment subsequently reaches the buyer's destination.
  4. For destination contract,at the point of delivery,the burden of risk and title associated with the condition and ownership of the specified shipment is passed onto the buyer and seller is not officially or legally liable regarding the same.
3 0
3 years ago
At the beginning of the current year, Sandy Brewer had a zero basis in her 38 shares of stock in Lindlee, an S corporation, a ze
Alona [7]

Answer:

As in her worthless note,Sandy has a zero adjusted basis. Her bad debt deduction is Nil according to Section 166 (b).

Section 166(g)(1) states that her capital loss realized on the deemed sale of this stoke is also nil because of zero adjusted basis in her worthless stock.

According to Reg. Sec.1.1366-2(a)(5) if all of her stock is disposed by an S corporation shareholder and loss carryforward attributable to the Section 1366 (d) basis. Limitaitons are permanently disaalowed.

Hence, her $7,400 ordinary loss carryforward can never be deducted by Sandy.

Sandy has no 2012 tax consequences from worthlessness of her Lindlee investments

7 0
3 years ago
Read 2 more answers
A popular soft drink is sold in 2​-liter ​(​2000-milliliter) bottles. Because of variation in the filling​ process, bottles have
saul85 [17]

Answer:

The answer is below.

Explanation:

The z score is a used in statistics to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:

z=\frac{x-\mu}{\sigma}\\\\where\ x=raw\ score, \mu=mean,\sigma=standard\ deviation\\\\For\ a\ sample\ size(n):\\\\z=\frac{x-\mu}{\sigma/\sqrt{n} }

a) Given that n = 100, μ = 2000, σ = 18

For x < 1995 millimeters:

z=\frac{x-\mu}{\sigma/\sqrt{n} }=\frac{1995-2000}{18/\sqrt{100} }  =-2.78

From the normal distribution table, P(x < 1995) = P(z < -2.78) = 0.0027

b) P(z > z*)  = 10% = 0.1

P(z < z*) = 1 - 0.1 = 0.9

z* = 1.28

z*=\frac{x-\mu}{\sigma/\sqrt{n} }\\\\1.28=\frac{x-2000}{18/\sqrt{100} }\\\\x-2000  =-2.304\\\\x=2002.3\ ml\\\\

From the normal distribution table, P(z < z

6 0
3 years ago
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