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3 years ago

On January 1, 2020, Snitchy Company purchased a tractor-trailer rig for $188,000.

Business

1 answer:

olasank [31]3 years ago

6 0

Answer:a

Explanation:

Cost of Trailer - $188,000

Salvage value $28,000

Useful life: 8 years

Depreciable amount - $160,000

Expected miles coverage - 352,000

Mileage in 2020 = 44,500

Mileage in 2021 = 41480

Depreciation rate = 1/8*100 = 12.5%

Straight line :

160,000/8 = 20,000 2020 2021

20000 20000

Units of production (44500/352000*160000) (41480/352000*160000)

20,227.27 18,854.54

Double declining 25%*188000 25%*141000

balance 47000 35250

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Beginning Work in Process Inventory was 10,000 units that were 20% complete and 40,000 units started, with ending Work in Proces

lesya692 [45]

Answer:

Material EUP = 5000

Conversion Costs EUP = 51,200

Explanation:

Under weighted average method

Beginning Work in Process Inventory 10,000

Units Started = 40,000

Units to account for 50,000

In the Work In Process for Conversion Costs

Beginning Work In Process (10,000*20 %) = 2000 were complete

Work done on beginning inventory = 10,000- 2,000= 8,000

Units Started = 40,000

Add Ending Inventory (8000*40%) 3200

Units to account for = 51,200

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3 years ago

Franklin, an employee of XYZ Publishing Company, hired Torrez, a freelance artist, to design the cover of a book, written by Che

MArishka [77]

Answer:

XYZ Publishing Company is the owner of the cover design.

Explanation:

When a business or even an individual hires someone to work for a specific job, the outcome of that job belongs to the employer.

For example, if I hire a carpenter and ask him to manufacture a specific type of chair that I like. Even f the carpenter contributed to the design of the chair, the chair and its design belong to me since I paid for it. Even if for some reason a lot of people like my chars and they ask the carpenter to manufacture more chairs, he would need my authorization to do it.

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2 years ago

Effective corporate governance is essential in large corporations because corporate ownership (by shareholders) is separated fro

nalin [4]

Answer:

False

Explanation:

Outside directors are members of the board of directors that are not employees of the corporation. While an inside director is a member of the board that is also employed by the corporation, e.g. CEO.

Corporations are separate entities form their stockholders, that is why limited liability applies to them. The board of directors doesn't have to include stockholders or employees, they usually do, but it is not required by law. Outside directors should very experienced and capable individuals that possess certain expertise that can help the corporation. Also, the board should control and supervise upper management, but if only inside directors were admitted into it, then who would control them?

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2 years ago

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Regardless of the inventory costing system used, cost of goods available for sale must be allocated at the end of the period bet

MaRussiya [10]

Answer:

The correct answer is ending inventory and cost of goods sold

Explanation:

Cost of goods available for sale is defined as the maximum amount of the inventory or the goods which the company could possibly sell during the fiscal or accounting period.

The cost of goods which are available for sale need to be allocated among the cost of goods sold and the ending inventory at the end of the year, where the cost of goods equals to the cost of goods available for sale subtract the ending inventory.

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2 years ago

Anna employs Mark to purchase for her a suitable site for a roller rink. Mark owns a huge site himself and sells it to Anna at f

mylen [45]

Answer:

Fiduciary

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A fiduciary is a person that is appointed to protect the interests of his principal.

He should ensure that all transactions favor his principal maximally. It also entails full disclosure.

In this case, Mark was going to be the beneficiary of the sale. Even if the site was sold at fair market value, Mark has responsibility to fully disclose the source of the transaction to Anna.

Conflict of duty is when the fiduciary benefits from his position. This is not allowed.

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3 years ago