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N76 [4]
3 years ago
5

Is the owner or any bots or a co-owner on here i need to talkIf you are not DO not REPLY

Business
2 answers:
Nata [24]3 years ago
6 0
There should be a way to contact them.. they won’t respond over answering!

good luck though !
timama [110]3 years ago
4 0
What exactly do you need to talk about… but hey i’m here lol
You might be interested in
Determine the price in period 1 (the future) if 30 units of oil are consumed in period 0 (the present).
Dovator [93]

Answer:

$16.50

Explanation:

Note: The complete question is attached as picture below

We know that there is a total of 90 units of oil and 30 units is consumed in period 0.

So, in period 1, the consumption amount will be = 90-30=60 units.

So, Q1 = 192 - 8P

For 60 units, the price will be 60 = 192 - 8P

8P = 192 - 60

8P = 132

P = 132 / 8

P = 16.5

So, the price in period 1 is $16.50

8 0
2 years ago
Suppose Frank owns a vintage Porsche in mint condition. He agrees to sell it to Smith, but the night before the parties are to e
Korvikt [17]

Answer:

This is a situation arising from objective impossibility.

Explanation:

The contract was made for mint condition of car. The car damaged while it was with Frank. Thus, parties are thus discharged from their obligations under the contract.

6 0
3 years ago
Read 2 more answers
Sanborn Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100,000 for the year.
Nana76 [90]

Answer:

d) 34.17

Explanation:

we must first calculate the total overhead expenses = $120,000 (ordering and receiving) + $297,000 (machine setup) + $1,500,000 (machining) + $1,200,000 (assembly parts) + $300,000 (inspection) = $3,417,000

since overhead is applied based on direct labor hours, then the predetermined overhead rate = total overhead expenses / total direct labor hours = $3,417,000 / 100,000 labor hours = $34.17 per labor hour

8 0
3 years ago
Babcock Company purchased a piece of machinery for $36,000 on January 1, 2019, and has been depreciating the machine using the s
pogonyaev

Answer:

<u>Requirement 1:</u>

Dr Accumulated Depreciation $9,600

Cr Retained Earnings  Account      $9,600

<u>Requirement 2:</u>

Dr Depreciation Expense $6,000

Cr Accumulated Depreciation $6,000

Explanation:

Year  Remaining Life of machine  Depreciation fraction

1                               5                                           5/15

2                              4                                           4/15

3                              3                                           3/15

4                              2                                           2/15

5                          <u>    1     </u>                                       1/15

Total                       15  

Now here, the depreciation formula is as under:

Depreciation expense = (Cost - Salvage Value) * Fraction value

<u>Year 2019:</u>

The sum of years digit fraction would be 5/15 and the cost of the machinery is $36,000. So

Depreciation Expense = ($36,000 - 0) * 5/15  = $12,000

<u>Year 2020:</u>

The sum of years digit fraction would be 5/15 and the cost of the machinery is $36,000. So

Depreciation Expense = ($36,000 - 0) * 4/15  = $9,600

<u>Year 2021:</u>

Now in this year the there is change in estimate and a switch in the use of the depreciation method, which is now straight line method. The change in estimate only includes the useful life of the asset which is 6 years from the date of purchase.

So for straight-line depreciation:

Depreciation Expense = (Cost - Salvage Value)  / Useful Life

By simply putting values, we have:

Depreciation Expense = $36,000 / 6 years = $6,000 per year

So this means, according to change in accounting policy, the excess depreciation charged must be eliminated from the previous years. The depreciation charge for the previous 2 years must be $12,000 and the excess depreciation charge is calculated as under:

Carrying value of the asset = $21,600 - $12,000  = $9,600

<u>Requirement 1:</u>

The double entry according to the US GAAP, for the excess depreciation charge in the previous years would be the waiving off of retained earnings with the excess depreciation amount calculated above.

Dr Accumulated Depreciation $9,600

Cr Retained Earnings  Account      $9,600

<u></u>

<u>Requirement 2:</u>

The depreciation expense for the year 2021, would be recorded as under:

Dr Depreciation Expense $6,000

Cr Accumulated Depreciation $6,000

3 0
3 years ago
ENETEAU CORPORATION
4vir4ik [10]

Answer:

See below

Explanation:

Statement of cash flows for the year ended December 31, 2020 using the indirect method.

Cash flow from operating activities:

Net loss = $12,000

Adjustment to reconcile net loss with cash flows from operating activities:

Depreciation = ($20,000 + $10,000 - $13,000) = $7,000

Loss on sale of land = $2,000

Increase in accounts receivable = ($20,000)

Increase in prepaid expense = ($5,000)

Increase in accounts payable = $6,000

Net cash used in operating activities = ($12,000)

Cash flow from investing activities

Sale of land = ($40,000 - $18,000 - $2,000) = $20,000

Sale of equipment = $5,000

Net cash generated by investing activities = $25,000

Cash flow from financing activities

Retirement of bond = ($12,000)

Proceeds from issuance of bonds = $20,000

Net cash used by financing activities = $8,000

Net increase in cash = $6,000

Add: beginning cash balance = $31,000

Ending cash balance = $37,000

Workings

• Calculation of depreciation

The accumulated depreciation at the end of the year 2020 = ($20,000)

Hence;

Accumulated depreciation at the end of the year 2020 = ($13,000)

Increase in accumulated depreciation during 2020 = $20,000 - $13,000 = $7,000

Add: accumulated depreciation on equipment sold during 2017 = $10,000

Total depreciation expense for 2020 = $7,000 + $10,000 = $17,000

• Calculation of proceeds from sale of land:

Cost of land = $40,000 - $18,000 = $22,000

Loss on sale of land = $2,000

Therefore,

Proceeds from sale of land = cost of land sold - loss on sale of land

= $22,000 - $2,000

= $20,000

• Calculation of issuance of bonds payable during 2020

The bonds payable at the end of year 2019 = $19,000

Hence,

Bonds payable at the end of year 2020 = $27,000

Retirement of bonds during year 2020 = $12,000

Therefore,

Bonds issued during 2020 = $27,000 + $12,000 - $19,000 = $20,000

4 0
2 years ago
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