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Leya [2.2K]
2 years ago
12

Suppose a manufacturing plant purchased a new heating system in December, 2015 and, after installing and testing the equipment,

it was put into service on January 1, 2016. The total cost to put the equipment into service was $55,000; it is expected to have a useful life of 5 years and a salvage value of $5,000.
Required:
Using the straight-line method of depreciation, what will the entry be to record depreciation for the 6 months ending June 30, 2016?
Business
1 answer:
Andreas93 [3]2 years ago
3 0

Answer:

Depreciation for 6 months ending June 30, 2016 is $ 5,000 and the accounting entry to record the transaction is:

Depreciation Expense  - Debit                    $ 5,000

Allowance for Depreciation  - Credit           $ 5,000  

Explanation:

pls branliest! :)

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An initial time study was done on a process with the following results​ (in minutes). Based on the data obtained so​ far, assumi
kiruha [24]

Answer: 24.60 minutes (2dp)

Explanation:

The question is essentially asking that we find the Standard Time it takes to serve a customer.

To do this we would have to calculate the averages of the different elements and then use this to find the normal time which we can then use to find the Standard Time.

Element 1

= (3 + 4 + 4 + 3 + 3)/5

= 3.4

Element 2

= ( 9 + 8 + 10 + 11 + 10)/5

= 9.6

Element 3

= ( 7 + 8 + 6 + 7 + 8)/5

= 7.2

We then calculate the normal times by multiplying each of the individual means with their performance ratings.

That would be,

Element A

= 3.4 * 70%

= 2.38

Element B

= 9.6 * 110%

= 10.56

Element C

= 7.2 * 120%

= 8.64

We then add up the normal times to get the total normal time

= 2.38 + 10.56 + 8.64

= 21.58 minutes

Now we can solve for the standard time using this formula,

Standard time = Normal time (1+Allowance factor)

= 21.58 ( 1 + 0.14)

= 24.6012 minutes

= 24.60 minutes (2dp)

The time per unit customer served is 24.60 minutes.

If you need any clarification please do comment. Cheers.

6 0
3 years ago
During its first year of operations, Silverman Company paid $12,385 for direct materials and $10,600 for production workers' wag
Bingel [31]

Answer:

Finished goods inventory final balance= 12, 495

Explanation:

PRODUCTION COST COMPONENTS

  • Direct materials 12,385  
  • Direct work 10,600  
  • Lease and utilities 9,600

TOTAL PRODUCTION COST = 32,585

TOTAL UNITS PRODUCED = 6,650

UNIT COST= (Total Production Cost / Total Units Produced) = 32,585 / 6,650 = 4.9  

FINAL GOODS INVENTORY = (Total Units Produced – Total Units Sales) = 6,650 – 4,100 = 2,250

FINAL GOODS INVENTORY AMOUNT = (Final goods Inventory * Unit Cost) = 2,250 * 4.9 = 12,495

4 0
3 years ago
econ One year a country has negative net exports. The next year it still has negative net exports and imports have risen more th
Vesnalui [34]

Answer:

its trade deficit rose

Explanation:

Trade deficit occurs when the imports of a country are higher than the exports. It is called the trade deficit. It means the country is importing more value of goods from other countries and exporting less. When Imports grows higher than the growth in exports, the trade deficit eventually rises.

8 0
3 years ago
The tangible assets of an organization include
Sloan [31]

Answer:

a. company reputation

Explanation:

yan po and tamang sagot...god luck po. ..

3 0
2 years ago
Many in the advertising industry are calling for a new way to measure a commercial’s effectiveness, _____________, an accountabi
Vsevolod [243]

ROI is the answer to this question. ROI or Return of Investment is when the capital is now gained back and the business computes the amount of profit during the time the investment was returned. Return of investment is computed by dividing the benefit of investment over the cost of investment. 

6 0
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