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loris [4]
2 years ago
8

Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, Year 1: Purchase

price $ 71,000 Delivery cost $ 3,000 Installation charge $ 2,000 Estimated life 5 years Estimated units 146,000 Salvage estimate $ 3,000 During Year 1, the machine produced 42,000 units and during Year 2, it produced 44,000 units. Required Determine the amount of depreciation expense for Year 1 and Year 2 using each of the following methods:
Business
1 answer:
ioda2 years ago
7 0

Answer: See Explanation

Explanation:

You didn't give the methods to use but let me use 2 main methods.

First, let's use the Straight line Depreciation. This will be:

= ($71000 + $3000 + $2000 - $3000) / 5

= $73000/5

= $14600

Year 1 Depreciation = $14600

Year 2 depreciation = $14600

Secondly, let's use the double declining method of Depreciation will be:

= 1/5 × 2

= 0.2 × 2

= 0.4

= 40%

Year 1 depreciation will be:

= 76000 × 40%

= 76000 × 0.4

= $30400

Year 2 Depreciation will be:

= ($76000 - $30400) × 40%

= $45600 × 40/100

= $45600 × 0.4

= $18240

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Explanation:

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poornima gupta is retiring soon, so she is concerned about her investments providing her steady income every year. she is aware
pshichka [43]

In a case whereby poornima gupta is retiring soon, so she is concerned about her investments providing her steady income every year, the risk is poornima most concerned about protecting against is interest reinvestment risk.

<h3>What is interest reinvestment risk?</h3>

Reinvestment rate risk  can be described as the risk that should be considered in the case whereby the investor  have the reason to carry out  reinvestment in regards with the future cash flows  which could come inform of a  lower return  as a result of the interest rate declines.

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4 0
1 year ago
Stock may be described as:_________
nydimaria [60]

Answer:

a. an ownership interest in the corporation.

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5 0
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gtnhenbr [62]

Answer:

A. Carol, Capital is debited for $4,500

Explanation:

The question says to determine amount to be included in the journal entry to record Ronald's withdrawal from the partnership

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First premise: Ronald's Capital in the Partnership = $77,000

However, Ronald received a payment of $86,000 meaning that there is an excess of $86,000-$77,000= $9,000

Since the agreement is equal profit and loss sharing, it means each of Ross and Carol will contribute 1/2 of the $9,000.

The journal entry to record this transaction is as follows:

Particulars                                          Debit                     Credit

Carol Capital Account                      $4,500

Ross Capital Account                       $4,500

Ronald Capital Account                                                  $9,000

Being the equal contribution of excess amount paid to Ronald on exit from the partnership by Carol and Ross.

Based on the multiple choices, the correct answer is Carol, Capital is debited for $4,500

4 0
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