Your boss has told you to hire four more people to help you keep track of inventory. What kind of need is this

Kansas Enterprises purchased equipment for $73,000 on January 1, 2021. The equipment is expected to have a five-year service lif

Margaret [11]

Answer:

Depreciation expense = $13,130

Book value = $46,740

Explanation:

Depreciation is a method of expensing the cost of an asset.

Depreciation expense using the straight line method = (Cost of asset - salvage value) / useful life

($73,000 - $7,350) / 5 = $13,130

The depreciation expense each year would be $13,130.

Book value = Cost of asset - Depreciation expense

In December 2021, the book value would be = $73,000 - $13,130 = $59,870

In December 2022, the book value would be = $59,870 - $13,130 = $46,740

I hope my answer helps you

4 0

3 years ago

In a periodic inventory system, which of the following accounts may be closed by debiting Cost of Goods Sold? a) Sales, Inventor

Svetradugi [14.3K]

Answer:

c) Inventory (beginning) and Purchases.

Explanation:

When you use perpetual inventory system, you must record cost of goods sold every time you make a sale. But when you use a periodic inventory system, you close cost of goods sold with merchandise inventory account at the end of the period.

beginning inventory + purchases - ending inventory = cost of goods sold

6 0

2 years ago

find the accumulated amount at the end of 9 months on an $800 deposit in a bank paying simple interest at a rate of 6% per year.

Valentin [98]

As per the given figure, after calculating the accumulated amount, the figure that has been arrived is $1,232.

<h3>What is the accumulated amount?</h3>

Accumulated value or accumulated amount, both are synonyms. It is used to refer to the cash value. Basically, this means there is an easy way of calculating the accumulated value.

All one has to do is to find the total or the sum of the initial investment and, in that addition, the interest which has been earned till date will be added. Formula for calculating the simple interest is

Accumulated amount =Principal amount (1+rate * time)

Here Principal amount = $800, rate= 0.06, time=9 months

Accumulated amount = 800 (1+(0.06*9) = 800 (1+ 0.54 ) = $1,232.

Thus, the accumulated amount for the given data is $1,232.

Learn more about accumulated amount from here:

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7 0

1 year ago

In preschool one day, 5 children decided to help each other build a fort with the items that were available to them. each child

Marina CMI [18]

This is an example of associative play.
It means that the children are in the same location, but not necessarily close to each other or playing together. Each of these kids has their own plan and agenda of how to bring the plan to fruition, and they are not really cooperating in order to build the fort.

5 0

3 years ago

A hospital reports the following cost and revenue data: Variable cost per inpatient day of $250 Revenue per inpatient day of $10

REY [17]

Answer:

Expected profit at a volume of 25,000 inpatient days = $3,750,000.00

Explanation:

The expected profit is calculated as follows:

Step 1

Total contribution per inpatient from 25,000 inpatients

contribution = (revenue - variable cost) per patient

= $(1000-250)

= $750 per inpatient day

Total contribution for 25,000 inpatient days

$750 × 25000 = $18,750,000.00

Step 2

Calculate Profit 

Profit = Total contribution - Fixed cost

=$18,750,000.00 -$15,000,000

= $3,750,000.00

Expected profit at a volume of 25,000 inpatient days = $3,750,000.00

4 0

3 years ago