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IceJOKER [234]
2 years ago
14

d Corporation purchased a depreciable asset for $840300 on January 1, 2018. The estimated salvage value is $87000, and the estim

ated total useful life is 9 years. The straight-line method is used for depreciation. In 2021, Concord changed its estimates to a total useful life of 5 years with a salvage value of $146000. What is 2021 depreciation expense
Business
1 answer:
Dominik [7]2 years ago
6 0

Answer:

$221,600

Explanation:

The computation of the depreciation expense for the year 2021 is as follows:

Depreciation expense is

= (Cost - Salvage value) ÷ Useful life

= ($840,300 - $87,000) ÷ 9

= $83,700 per year

Now the book value would be

= $840,300 - ($83,700 × 3 years)

= $589,200

And, finally the revised depreciation is

= ($589,200 - $146,000) ÷ 2

= $221,600

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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During its first year of operations, Silverman Company paid $10,285 for direct materials and $9,800 for production workers' wage
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Answer:

D.$3,950

Explanation:

Production = ($10,285 + $9,800 + $8,800) ÷ 5,450units

=$28,885÷5,450 units

= $5.3per unit

COGS = 3,300 units sold × $5.3 per unit

= $17,490

Net income = Revenue − Cost of goods sold − Selling and administrative expenses

Net income = (3,300 units × $7.80 per unit) − (3,300 units sold × $5.3per unit) − $4,300

=(25,740-17,490)-$4,300

= 8,250-$4300

=$3,950

Therefore Silverman's net income for the first year in operation is $3,950

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Answer:

Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price.

Explanation:

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Because -

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