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ehidna [41]
3 years ago
12

Slotkin Products purchased a machine for $65,000 on July 1, 2017. The company intends to depreciate it over 8 years using the do

uble-declining balance method. Salvage value is $5,000. Depreciation for 2017 is A) $8,125 B) $15,000 C) $32,500 D) $14,219
Business
1 answer:
frez [133]3 years ago
7 0

Answer:

A) $8,125

Explanation:

Note Slotkin Products uses the double-declining balance method. Under the double-declining balance method depreciation expense is calculated as :

Annual depreciation expense = 2 x SLDP x BVSLDP

where,

SLDP = 100 ÷ Useful life

         = 12.5 %

and

BVSLDP = Cost in first year or Book Value for other succeeding years =

therefore,

Annual Depreciation expense = 2 x 12.50 % x $65,000 = $16,250

thus,

Partial depreciation from July 1, 2017 to Dec 31, 2017 - 6 months will be :

Depreciation expense = $16,250 x 6/12 = $8,125

Conclusion :

Depreciation for 2017 is $8,125

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Gray argues that national cultural values affect accounting values. If Country X ranks low on uncertainty avoidance, which of th
antoniya [11.8K]

Answer:

d. the country would rank low on the accounting values of conservatism

Explanation:

Gray's accounting framework postulates that the 4 accounting values of professionalism, conservatism, secrecy, and uniformity can be used to predict differences in accounting systems internationally.

Uncertainty avoidance is the degree to which cultures tolerate unpredictability.

Counties with high uncertainty avoidance are more conservative for example Japan.

While countries that have low uncertainty avoidance are less conservative. They are flexible to change and more willing to take risks.

7 0
3 years ago
Silicon Valley in California is the world center for the computer and semiconductor industry and has many of the world's major c
laila [671]

Answer:

The correct answer is D. externalities.

Explanation:

An externality is defined as that situation or group of situations that determine that a service good is not reflected at its real market price. In this example, the computer industry is so close that they do not know for sure the benefits they have when offering their goods, and it becomes an advantage in the sense that due to its close location it is possible to establish agreements to manage prices and not enter into direct market competition.

7 0
3 years ago
Which of the following is a compound sentence?
ZanzabumX [31]
A. Raymond applied for the position, and he was called for an interview two days later.

(This sentence has more than one subject and a predicate, hence is a compound sentence)


6 0
3 years ago
Meric Mining Inc. recently reported $15,000 of sales, $7,500 of operating costs other than depreciation, and $1,200 of depreciat
fomenos

Answer:

final net income = $3830.9375

Explanation:

GIVEN DATA:

sales = $15000

DEPRECIATION = $1200

interest rate = 6.25%

federal+state income tax rate -  35%

OPERATING COST EXCLUDING DEPRECIATION = $7500

total  operating cost = 7500+ 1200 = $8700

interest given = 6500*0.0625=406.25

net income with tax= 15000-8700-406.25 = 5893.75

final net income = 5893.75*(1-0.35)=3830.9375

4 0
3 years ago
A corporation is a distinct ______ entity and as such can have a name and take advantage of the legal powers of natural persons
r-ruslan [8.4K]

Answer:

Legal

Explanation:

A corporation is a business that is owned by shareholders. The corporation is a separate legal entity and so it can sue and be sued, pay taxes and own assets.

Advantages of a corporation include :

  1. they have unlimited liabilities
  2. they have unlimited life. the business doesn't end even after the death of the owners unlike a sole proprietorship
  3. they have more access to capital

Disadvantages of a corporation include :

high cost of setting up

Earnings to shareholders are taxed twice

4 0
3 years ago
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