Accountants must have strong ___ to visualize, communicate, and solve

Pina Colada Corp bought equipment on January 1, 2017. The equipment cost $490000 and had an expected salvage value of $70000. Th

Olenka [21]

Answer:

$322,000

Explanation:

For computing the book value at the beginning of the third year first we have to determine the depreciation expense using the straight-line method which is shown below:

= (Original cost of equipment - expected salvage value) ÷ (estimated life)

= ($490,000 - $70,000) ÷ (5 years)

= ($20,000) ÷ (5 years)

= $84,000

In this method, the depreciation is same for all the remaining useful life

For two years, the accumulated depreciation is

= $84,000 × 2

= $168,000

So, the book value is

= $490,000 - $168,000

= $322,000

This is the answer but the same is not provided in the given options

7 0

3 years ago

Wiki Wiki Company has determined that the variable overhead rate is $4.50 per direct labor hour in the Fabrication Department. T

Phantasy [73]

Answer:

a. <u>Monthly Factory Overhead Cost Budget Fabrication Department</u>

Direct Labor Hours 9,000 10,000 11,000

Variable Factory Overhead $40,500 $45,000 $49,500

Cost at $4.50 per hour

Fixed Factory Overhead Costs $60,000 $60,000 $60,000

Total Factory Overheads $100,500 $105,000 $109,500

b. Normal Production = 10,000 Units

Total Factory Overheads = $105,000

Factory Overhead Cost per unit = $105,000 / 10,000 Units

Factory Overhead Cost per unit = $10.5 per unit

Factory Overhead Cost absorbed when 9,000 hours used in the department:

= 9,000 Hours * $10.5 per Unit

= $94,500

3 0

3 years ago

You have 2500 square feet for selling space. You want to reserve at least 125 square feet for each product category you will car

stira [4]

You first need to find out how much usable floor space you will have.

You have 2500 feet of total space, but 30% of the space is unusable because the aisle. So you would multiply 2500 X 70%

Then you would need to figure out how many categories you can have so you would take the number of usable feet you just calculated divided by 125 (the amount of square feet each product category requires.)

5 0

4 years ago

Match the following terms:1. The mix of accounts/itAsset Structure 2. The mix of all accounts/items on the right hand side of th

Vesnalui [34]

Answer:

Matching terms:

1. The mix of accounts/Asset Structure

D. Asset Structure

2. The mix of all accounts/items on the right hand side of the balance sheet

C. Financial Structure

3. The mix of longer term items on the right side of the balance sheet explicitly used to fund the corporation:

B. Capital Structure

4. The ratio of debt to total assets:

A. Leverage

Explanation:

Options and definitions:

A. Leverage: the amount of debt a firm uses to finance its assets.

B. Capital Structure: the combination of long-term debt and equity.

C. Financial Structure: the mix of all of a company's liabilities and its equities.

D. Asset Structure: the distribution of a firm's asset base in different asset categories, like buildings, plant, and equipment.

8 0

3 years ago

What two elements normally must exist before a person can be held liable for a crime

Greeley [361]

1 - performed an illegal act (actus reus)
2-while performing the act , had the required intent or specific state of mind ( mens rea)

3 0

3 years ago

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