1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Irina18 [472]
2 years ago
14

On November 1, 2021, Sandhill Co. places a new asset into service. The cost of the asset is $84000 with an estimated 10-year lif

e and $12000 salvage value at the end of its useful life. What is the depreciation expense for 2022 if Sandhill Co. uses the straight-line method of depreciation
Business
1 answer:
Aneli [31]2 years ago
7 0

Answer:

$7,200

Explanation:

According to the scenario, computation of the given data are as follows,

Total cost = $84,000

Salvage value = $12,000

Estimated life = 10 years

So, we can calculate depreciation expense by using following formula,

Depreciation yearly = (Total cost - Salvage value) ÷ Estimated life

= ($84,000 - $12,000) ÷ 10

= $72,000 ÷ 10

= $7,200

You might be interested in
Costly Corporation is considering a new preferred stock issue. The preferred would have a par value of $1000 with an annual divi
shutvik [7]

Answer:

28.63%

Explanation:

The computation of the cost of preferred stock is shown below:

Cost of the preferred stock = Dividend ÷ Price of the stock

where,

Dividend is

= $1,000 × $15%

= $150

And, the price of the stock is

= Market value of the stock - flotation cost

= $576 - $52

= $524

So, the cost of preferred stock is

= $150 ÷ $524

= 28.63%

We ignored the marginal tax rate i.e 40%

3 0
2 years ago
Lisa Smith has her age listed on her driver's license as being three years younger than it actually is. This is also how old she
Lubov Fominskaja [6]

Answer:

Misstatement of age

Explanation:

If the insurance company knows that a person has intentionally lied about his/her age, they will adjust the insurance amount and premium to match the correct age of the insured. E.g. in this case, Lisa will probably be required to pay a higher premium on her policy, and depending on her age, the insurance amount might be lower.

4 0
3 years ago
Suppose that $2500 is placed in a savings account at an annual rate of 5%, compounded quarterly. Assuming that no withdrawals ar
babymother [125]

Answer:

number of periods = 8 years.

Explanation:

We know,

Future Value = Present value × (1 + r)^{n}

Here,

Present value = PV = $2,500

Future value = FV = $3,500

Interest rate (Compounding) = 5% = 0.05

We have to determine how many years (Periods) it will take, n = ?

Putting the values into the above formula,

$3,500 = $2,500 × (1 + 0.05)^{n}

or, (1 + 0.05)^{n} = $3,500 ÷ $2,500

or, n log 1.05 = 1.4

or, n × 0.17609 = 1.4

or, n =  1.4 ÷ 0.17609

Therefore, number of years = 7.95 or 8 years.

5 0
3 years ago
On January 1, 2017 the City of Graf pays $85,500 fora work of art to display in the local library. The city will take appropriat
Nookie1986 [14]

Answer:

Explanation:

The journal entries are shown below:

a. Artwork A/c Dr $85,500

        To Cash A/c                                       $85,500

(Being work is reported on the government-wide financial statements)

Depreciation Expense A/c Dr $5,700

        To Accumulated Depreciation A/c $5,700

(Being depreciation expense is recorded)

The depreciation expense is shown below:

= Original cost ÷ useful life

= $85,500 ÷ 15 years

= $5,700

b. Artwork expenditure A/c Dr  $85,500

           To Cash A/c  $85,500

(Being  work is reported on the fund financial statements

5 0
3 years ago
A good group decision-making approach when the objective is to make sure that every person’s idea is heard is:
Dimas [21]

Answer:

Nominal group technique which is sometimes denoted as NGT is type of decision making approach that first step include identification of problems and then resolve them.

Explanation:

Nominal group technique which is sometimes denoted as NGT is type of decision making approach that first step include identification of problems and then resolve them.

This type of approach want every single member involvement and their ideas to be share among the present group. The  main advantage of this approach is that it include every individual participation, chaos or noise between the discussion is less.

3 0
3 years ago
Other questions:
  • What is consideration​
    8·1 answer
  • As the level of activity increases, how will a mixed cost in total and per unit behave? In Tota Per UnitA) Increase DecreaseB) I
    7·1 answer
  • The current period statement of cash flows includes the flowing: Cash balance at the beginning of the period $310,000 Cash provi
    14·1 answer
  • U get payed 10$ a hour and you work on average 30hours/week you deposit 250& because ur offering 2.2% . How much interest wi
    8·1 answer
  • At the end of 2021, Havana contributed $696 thousand to the pension fund and benefit payments of $624 thousand were made to reti
    5·1 answer
  • You are saving for retirement. To live​ comfortably, you decide you will need to save $ 4 million by the time you are 65. Today
    8·1 answer
  • Rojas Corporation’s comparative balance sheets are presented below.
    15·1 answer
  • What concept of scarcity refers to what idea​
    6·1 answer
  • Billy has received a mediocre evaluation for the second year in a row. He knows that he has made improvements, but his superviso
    15·1 answer
  • Consider the economies of Hermes and Gobbledigook, both of which produce gaggles of gop using only tools and workers. Suppose th
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!