Answer:
The answer is $192,000
Explanation:
Double-declining-balance method is doubling the rate used.
To find the rate:
100percent÷5years
= 20%.
Doubling the rate:
20% x 2
=40%
Depreciation for December 31, 2020 is:
0.4 x $800,000
=$320,000.
Net book value of the asset at the beginning of January 1, 2021 is:
$800,000 - $320,000
$480,000.
Therefore, depreciation for December 31, 2021 is:
$480,000 x 0.4
=$192,000.
Therefore depreciation for December 31, 2021 is $192,000
By personal characteristics
Answer:
The major difference between job shadowing and an internship is that you perform more duties as an intern than as a job shadow participant. Interns are hired for temporary positions, and they can be paid or unpaid. When you have. a job you are bing paid and normally have more responsibilities.
<u>Solution and Explanation:</u>
<u>The following steps should be undertaken:
</u>
1. She should create extensive records of receipts, expenses, and other business dealings to demonstrate her profit intent which will give strength to fact that her activity is a business endeavor rather than hobby.
2. Secondly, she should keep ready a written and well-documented business plan clearly outlining the steps she would be taking to cut down losses and start earning profit.
3. She should demonstrate that she depends on her business endeavor for her livelihood to repel notion of it being a hobby.
Answer:
B) $30,500
Explanation:
Calculation for Kapanga's work in process inventory balance at the end of October
First step is to calculate the Variable Overheads
Variable Overheads = 150% × $5,000
Variable Overheads = $75,000
Now let calculate work in process inventory balance using this formula
Work in process inventory balance = Direct Material + Direct Labor + Variable Overheads
Let plug in the formula
Work in process inventory balance= $ 18,000 + $ 5,000 + $ 7,500 = $ 30,5000
Work in process inventory balance= $30,500
Therefore Kapanga's work in process inventory balance at the end of October will be $30,500
