Depreciation is a way not only to recognize the lost value over time of an asset, but also a way to recognize the expense of the asset over time. To this end, we want to see the value of the asset get smaller, and a piece of the asset on the the income statement ever period.
The depreciation base is 95,000 -5,000 = 90,000, and the depreciation period is 90,000/15,000 = 6 years.
The journal entry every year will be
Dec. 31
Debit: Depreciation expense 15,0000
Credit: Accumulated Depreciation (15,000)
Accumulated depreciation is a *contra-asset* account on the balance sheet that reduces the value of the the depreciable asset.
A credit union is owned and operated by the people who have accounts in it. In a traditional bank, the bank is run by a president and a board of higher people. In a credit union, all members of the union own a stake of the company and the board is made up of members of the credit union.
Answer:
The answer is a monopolist will hire fewer workers than if the industry were perfectly competitive.
Explanation:
A monopoly is a concept where a supplier has exclusive possession of a market of a product or a service for which there is no substitute.
It is worthy to note that a monopolist prefers pricing that maximizes profits without necessarily increasing the salary of his staff.
The goal of a monopolist is to maximize profits.
The cost of funding human resource is a recurrent expenditure that he manages to ensure cost effectiveness.
Therefore, other thing being equal, the monopolist will hire fewer workers than if the industry were perfectly competitive.
Answer:
The Total Budgeted Sales of May is $944,000
Explanation:
Budgeted sales are those sales which a business estimated in a particular period of time. While budgeting the future value company calculated the sales cost and other expenses to minimize the uncertainty and prepare for the future.
As per given data
In May
Budgeted sales Volume = 3,200 cookwares
Budgeted price per unit = $295
Budgeted Sale value = Budgeted Volume x Budgeted Sales price = 3,200 cookwares x $295 = $944,000
Cash Sales = $944,000 x 25% = $236,000
Credit Sales = $944,000 x 75% = $708,000
Answer
Sheridan should buy because doing so would save it $5900
Explanation
To determine the right course of action we will consider the relevant cost of making and buying
The relevant cost of making $
Variable cost ( 18 × 5,900 106200
Fixed cost (3× 5,900) <u> 17700
</u>
Total cost <u> 123,900</u>
Relevant of buying (20 × 5,900 ) = 118,000
Saving in cost by buying = 123,900 -118,000 =$5900
