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Daniel [21]
3 years ago
10

On January 1, Year 1, Parker Company purchased an asset costing $20,000. The asset had an expected five-year life and a $2,000 s

alvage value. The company uses the straight-line method. What are the amounts of depreciation expense and accumulated depreciation, respectively, that will be reported in the Year 2 financial statements
Business
1 answer:
SOVA2 [1]3 years ago
3 0

Answer:

3600

7200

Explanation:

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The _____ is a production period long enough for the firm to adjust the
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Answer:

long run, productive resources

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3 years ago
Crane Company reports: Cash provided by operating activities $ 310000 Cash used by investing activities 120000 Cash provided by
KengaRu [80]

Answer:

$437,000

Explanation:

We first, find the net cash flow for the current period, and then, add the cash balance for the period immediately before.

Net cash flow for current period:

Cash provided by operating activities $310,000

Cash used by investing activities ($120,000) - we substract this because the cash was "used", that is to say, it was spent.

Cash provided by financing activities $149,000

Net cash flow: $339,000

Ending cash balance = Net cash flow + beginning cash balance

                                   = $339,000 + 98,000

                                   = $437,000

8 0
3 years ago
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posledela
The danger temperature zone is a range between 40°F and 140°F. My guess would be 41°F
6 0
3 years ago
Mosh, a sole proprietor, uses the cash basis of accounting. At the beginning of the current year, accounts receivable were $25,0
Dahasolnce [82]

Answer:

b. $100,000

Explanation:

Provided information

Beginning balance of account receivable = $25,000

Collection from customers = $100,000

Ending balance of account receivable = $15,000

Since we have to find out the gross taxable income, so we considered only the collection from customers as this is the amount which is received and therefore, it has come under the gross taxable income i.e $100,000.

8 0
3 years ago
yle Co. has $1.1 million of debt, $3 million of preferred stock, and $1.2 million of common equity. What would be its weight on
Virty [35]

Answer:

0.22

Explanation:

Calculation for the weight on common equity

Using this formula

Weight of Common equity = Common Equity/(Debt + Preferred Equity+Common Equity)

Where,

Common Equity=1.2

Debt =1.1

Preferred Equity=3

Let plug in the formula

Weight of common equity = 1.2/(1.1+ 3+ 1.2)

Weight of common equity=1.2/5.3

Weight of Common Equity=0.22

Therefore the weight on common equity will be 0.22

3 0
3 years ago
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