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RoseWind [281]
3 years ago
6

Norwood, Inc. purchased a crane at a cost of $80,000. The crane has an estimated residual value of $5,000 and an estimated life

of eight years, or 12,500 hours of operation. The crane was purchased on January 1, 2017, and was used 2,700 hours in 2017 and 2,600 hours in 2018. Refer to the information for Norwood, Inc. If Norwood uses the straight-line depreciation method, what is the book value at December 31, 2019
Business
1 answer:
qwelly [4]3 years ago
8 0

Answer:

Book value= $51,875

Explanation:

Giving the following information:

Purchase price= $80,000

Salvage value= $5,000

Useful life= 8 years

<u>First, we need to calculate the annual depreciation under the straight-line method:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (80,000 - 5,000) / 8

Annual depreciation= $9,375

<u>Now, we can determine the book value at the end of 2019:</u>

Book value= purchase price - accumulated depreciation

Book value= 80,000 - (9,375*3)

Book value= $51,875

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Taylor is a procurement specialist for Hillside Corporation. He is reviewing contracts, and notices a pattern between three part
aleksandr82 [10.1K]

Answer:

B

Explanation:

Bid rotation is when contractors collude and  take turns in winning a bid. Colluding contractors submit bids but take turns being the low bidder.

Bid-tailoring is when an employee in collusion with a contractor tailors bid specifications to give an unfair advantage to a certain contractor.

Complementary bids are bids intended only to give the appearance of a genuine bid. Colluding  bidders submit higher priced or deliberately defective bids to in order to ensure the selection of the designated winner at inflated prices.  

Phantom bids are fake bids

7 0
3 years ago
Ms. Liu shares her web data with you, which shows that she has an average of 500 daily page views during the weekdays, and an av
irakobra [83]

Answer:

1,250 on weekdays and 800 on weekends

Explanation:

During weekdays, each visitor views Ms. Liu's page twice, so the total number of visitors per day = 500 daily views / 2 views per visitor = 250 visitors per day. To calculate the total number of visitors for the five weekdays = 250 visitors per day x 5 days = 1,250 visitors

During weekends, each visitor views Ms. Liu's page three times, so the total number of visitors per weekend day = 1,200 daily views / 3 views per visitor = 400 visitors per day. To calculate the total number of visitors for the two weekend days = 400 visitors per day x 2 days = 800 visitors

6 0
3 years ago
P13–11 EPS calculations Southland Industries has $60,000 of 6% (annual interest) bonds outstanding, 1,500 shares of preferred st
777dan777 [17]

Answer:

$1.28

Explanation:

The computation of the earning per share is shown below:

As we know that

Earning per share = Net income ÷ Number of shares outstanding

where,

Net income is

Earning before interest and taxes      $24,600

Less: Interest

($60,000 × 6%)                                      - $3,600

Income before tax                                  $21,000

Less: tax for 40%                                    - $8,400

Earning after tax                                     $12,600

Less: Preference dividend

(1,500 shares × $5)                                  -$7,500

Income available                                       $5,100

So the earning per share is

= $5,100 ÷ $4,000

= $1.28

3 0
3 years ago
Identify the landlord’s responsibilities and the renter’s responsibilities in a home rental agreement. working appliances basic
stiks02 [169]

Answer:

landlord´s responsibilities:

  • working appliances: repair or replace broken appliances, unless tenant is responsible because they didn't use them properly
  • removal of bedbugs: the owner must provide warranty of habitability, so any type of bedbugs, or other insect or animal infestation should be eliminated.  
  • fixing locks and windows: repair or replace broken locks or windows, unless tenant is responsible because they didn't use them properly

tenant's responsibilities: (besides paying the rent)

  • working appliances: the tenant must operate appliances in a reasonable manner
  • basic housecleaning: the tenant is responsible for keeping the house clean and removing garbage
  • fixing locks and windows: the tenant must use them in a reasonable manner

8 0
3 years ago
Read 2 more answers
When a company needs funds to finance the expansion of its operations, which of the following is not an advantage of issuing bon
rosijanka [135]

Answer:

The dates for the interest and maturity payments are fixed.

Explanation:

When a company issues bonds instead of stock, one of the disadvantages of doing so is that they have to pay the coupons or the full face value of the bonds at specific dates. Either they pay coupons annually or semiannually,  and the face value is paid at maturity.

Since the dates are set beforehand, the company has to have the funds for these payments set aside. Instead, if the company would have issued stock, it would have greater freedom in deciding when and how much it should pay as dividends.

7 0
3 years ago
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