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IgorC [24]
3 years ago
6

The finance and accounting teams in most businesses actually have almost nothing to do

Business
2 answers:
vlabodo [156]3 years ago
8 0

I may be wrong but I believe it’s false

Alexeev081 [22]3 years ago
3 0

Answer:

O False i guess

Explanation:

The shift to a remote work paradigm makes an assumption: that finance organizations have already digitized financial data and have highly automated finance and accounting processes. In some industries, that assumption may be wrong. Accenture recently assessed that up to 80% of the traditional elements of finance, such as accounting, reporting, analysis, transacting, and compliance can presently be automated

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A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage
Mandarinka [93]

The amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.

<h3>What is depreciation expense?</h3>
  • Depreciation expense is the cost of a depreciated asset for a specific period, and it reveals how much of the asset's value was used up in that year.
  • Accumulated depreciation is the entire amount of depreciation expense given to an asset since it was placed in service.
  • A business spends $84,000 on new display racks with a useful life of 7 years (84 months) and no residual value.
  • The corporation would most likely choose a straight-line depreciation technique, which would result in a $1,000 monthly depreciation expenditure ($84,000/84 months = $1,000 per month).

The straight-line technique of calculating depreciation expense is given below:

  • = (Original cost - salvage value) ÷ (useful life)
  • = ($173,000 - $8,600) ÷ (10 years)
  • = ($164,400,000) ÷ (10 years)  
  • = $16,440

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

Now for the 7 months, the depreciation expense would be:

  • = $16,440 × 7 months÷ 12 months
  • = $9,590

Therefore, the amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.

Know more about depreciation expenses here:

brainly.com/question/25785586

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The correct question is given below:

A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021, is ______.

(A) $16440.

(B)$9590.

(C)$8220.

(D)$6850.

7 0
1 year ago
The general description of the job of HR manager includes Multiple Choice providing high-level administrative support by conduct
marin [14]

Answer:

maintaining functions such as employee compensation, recruitment, and personnel policies

Explanation:

5 0
3 years ago
A(n) ________ is a system based on a dominant ideology involving the widely shared belief that all people have an equal chance o
sammy [17]

Meritocracy is a system based on a dominant ideology involving the widely shared belief that all people have an equal chance of succeeding economically or a political philosophy stating that power should be vested in individuals based on their hard work and skills.

 





5 0
3 years ago
During its first year of operations, Silverman Company paid $15,085 for direct materials and $10,200 for production workers' wag
elena-s [515]

Answer:

$4,550

Explanation:

First, we need to calculate the product cost per unit

Product cost per unit = Total production costs / Units produced

= ($15,085 + $10,200 + $9,200) / 6,050 units

= $5.7 per unit

Cost of goods sold = $5.7 × 3,700 units

= $21,090

Net income = Sales - Cost of goods sold - Operating expenses

= ($8.2 × 3,700) - $21,090 - $4,700

= $30,340 - $21,090 - $4,700

= $4,550

6 0
2 years ago
Stretch goals" can be described as
inn [45]
You can describe stretch goals as goals placed above the ones you need or strive to achieve, as a secondary objective. Think of achieving a stretch goal as doing even better than expected.
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3 years ago
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