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Marat540 [252]
3 years ago
9

The jones company has just completed the third year of a​ five-year macrs recovery period for a piece of equipment it originally

purchased for $ 295 comma 000.
a. what is the book value of the​ equipment
Business
1 answer:
tankabanditka [31]3 years ago
7 0
Using the straight line method

Depreciation per year
295,000÷5=59,000

Accumulated depreciation for 3 years
59,000×3=177,000

Book value of the equipment
295,000−177,000
=118,000
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8 0
3 years ago
Which of these factors would be considered when making a location decision at the region/community level?
Delicious77 [7]

Answer: E .

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PERISHABILITY

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8 0
3 years ago
On January 1, 2012, Gucci Brothers Inc. started the year with a $492,000 balance in Retained Earnings and a $605,000 balance in
dsp73

Answer:

option (C) $1,201,300

Explanation:

Data provided in the question:

Balance in retained earnings = $492,000

Balance in Common Stock = $605,000

Net income earned = $92,000

Dividend paid = $15,200

Common stocks issued = $27,500

Now,

Common Stock

= Balance in Common Stock + Common stocks issued

= $605,000 + $27,500

= $632,500

Retained Earnings

= Balance in retained earnings + Net income earned - Dividend paid

= $492,000 + $92,000 - $15,200

= $568,800

Total Stock Holders Equity on Dec 31,2012

= Common Stock + Retained Earnings

= $632,500 + $568,800

= $1,201,300

Hence,

The answer is option (C) $1,201,300

4 0
3 years ago
On October 1, 2022, Sheridan Company places a new asset into service. The cost of the asset is $81000 with an estimated 5-year l
Ahat [919]

Answer:

the depreciation expense for 2022 is $3,000

Explanation:

Straight line method of depreciation charges a fixed amount of depreciation over the period of use of an asset.

Depreciation Expense = (Cost - Residual Value) / Number of useful life

                                      =  ($81000 - $21000) / 5

                                      =  $12,000

The Annual depreciation charge for this machine will be $12,000 for each of the years that it is used in the business.

However since it was paced in use during the year that is 1 October, we have to apportion the Annual charge withe number of months that its has been in use during 2022.

It has been used for 3 months thus depreciation charge is :

Depreciation = 3/ 12 × $12,000

                      = $3,000

8 0
3 years ago
The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor,
postnew [5]

Answer:

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Property taxes are period costs because it is a cost associated with a particular period of time (tax season), and because this cost cannot be capitalized in inventory, fixed assets, or prepaid expenses.

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Memory boards and chips used in assembling computers - direct materials.

The memory boards and chips are direct materials used to assemble the computers, therefore, they are a direct materials cost.

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Depreciation is a period cost because it cannot capitalized in fixed assets, since it actually reduces the value of those.

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Inspectors and supervisors are part of lower-management, and as result, their salaries are also considered period costs.

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The electrical components are used to assemble the computers, therefore, they represent a direct materials cost.

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The assembly line is needed to make the goods, but it is not in itself a part of the good. Besides, the cost of running the assembly line does not depend directly on the number of goods produced. It varies relatively close to that number, but the relation is not exact, and linear. Therefore, these soldering materials are manufacturing overhead.

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7 0
3 years ago
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