A standardized language used to manipulate data is

Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased at a cost of $

Nostrana [21]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased for $43,000 on October 1. The equipment has an estimated residual value of $3,000 and an estimated useful life of five years or 20,000 hours.

Assume the equipment was used for 1,000 hours from October 1 to December 31.

A) Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (43,000 - 3,000)/5=8,000

Year 1 depreciation= 8,000/12*3= 2,000

B) Annual depreciation= 2*[(original cost - residual value)/estimated life (years)]

Year 1= 16,000/12*3= 4,000

C) Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= 40,000/20,000= 2

Year 1= 2*1000hs= 2,000

4 0

4 years ago

Clarence is purchasing a $142,000 home with a 15-year mortgage. He will

Dominik [7]

Answer:

prime mortgage insurance (PMI) is an insurance that mortgage lenders require when borrowers make a down payment of less than 20% of the purchase price of the house.

We are not given any table, so I looked in the internet to find one that can be used as an example:

outstanding principal = $142,000 - 17% = $117,860

mortgage term equal or less than 15 years
base loan amount is less than $625,000
loan to value ratio = 1 - down payment = 83%, which means it is ≤ 90%
bps = 45

total yearly premium = principal x bps = $117,860 x 0.0045 = $530.47

monthly PMI payment = $530.47 / 12 months = $44.20

8 0

3 years ago

Which of the following statements is true regarding 401(k) accounts? A. Employers are not allowed to match employee contribution

Eva8 [605]

I think it's <span>D. Workers can save for retirement and defer income taxes on the savings</span>

8 0

3 years ago

Read 2 more answers

Atlantis Fisheries issues zero coupon bonds on the market at a price of $489 per bond. These are callable in 6 years at a call p

nataly862011 [7]

Answer:

the yield to call for these bonds is 5.7705 %

Explanation:

In this question, we are required to find the yield to call on the bonds

The Information we have is as follows :

PV = 489

PMT = 0

FV = $580

N = 6

P/YR = 2 ( semiannual compounding )

YTC = ?

Using a Financial Calculator and inputting the appropriate values as above, the yield to call is 5.7705 %

8 0

3 years ago

What is the difference between financial and managerial accounting ?

horrorfan [7]

Answer:

Financial accounting refer to the financial statement while, managerial is more focus into internal reports

In details, the most difference are as follows:

Aggregation.

Financing reports on the complete firm. While Managerial; at product, division or customer level.

Proven information.

Financing require certain criteria to ensure precision. It need to prove correct to third parties. While Managerial uses budget, forecast and estimated values.

Reporting focus.

Financial accounting is oriented toward outside

Managerial accounting analysis stays within a company.

Legislation:

Financial accounting faces the GAAP, IFRS and heavy legislation.

Managerial accounting doesn't

Time period.

Financial accounting has a historical orientation their reports are resumes of past transactions and operations.

Managerial accounting has a future orientation.

Timing.

Financial Statement are done at end of an accounting period.

Managerial accounting issues on demand of the board or supervisor.

8 0

4 years ago