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Ludmilka [50]
2 years ago
10

Mink Corporation purchases new office furniture for $7,200,000 on January 1, 2022. Mink estimates that the furniture has a $400,

000 residual value and a useful life of 8 years. Mink uses the straight-line method to record depreciation. Assume that on January 1, 2026, after 4 years, Mink realizes that the machine remaining useful life is 10 years and residual value is $200,000. A depreciation schedule would show ________ depreciation expense for 2026.
Business
1 answer:
TiliK225 [7]2 years ago
3 0

In 2026, the deprecation schedule would show a depreciation expense of $360,000.

<h3>What would be the deprecation expense for 2026?</h3>

The first step is to determine the accumulated deprecation up until 2026.

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($7,200,000 - $400,000) / 8 = $850,000

Accumulated depreciation = $850,000 x 4 = $3,400,000

Book value at the beginning of 2026 = $7,200,000 - $3,400,000 = $3,800,000

Deprecation expense = ($3,800,000 - $200,000) / 10 = $360,000

To learn more about straight line depreciation, please check: brainly.com/question/6982430

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La Famiglia Pizzeria provided the following information for the month of October:
Dennis_Churaev [7]

Answer:

a

The cash receipts in October are as follows:

Cash Sales:

85% of $157,000

= 0.85 * $157,000

= $133,450

Payments on September credit sales:

$181,500 * 28% * (80 - 75)%

= $181,500 *0.28 * 15%

= $181,500 * 0.28 * 0.15

= $7,623

Payments on October credit sales** 16,485

$157,000 * 70% * (85 - 70)%

$157,000 * 0.7 * 15%

= $157,000 * 0.7 * 0.15

= $16,485

Total cash expected = $133,450 + $7,623 + $16,485 = $157,558

b.

Payments for food purchases is as follows:

September

($130,000 × 0.75) = $97,500

October

($116,000 × 0.25) = 29,000

Total cash needed for June = $97,500 + $29,000 = $126,500

c.

The inventory is as follows:

Beginning balance $2,147

Cash receipts $157,558

Cash available $159,705

The following items will be subtracted:

Food purchases $126,500

Shareholder's Dividend $6,000

Workers’ wages in September $730 ---- 10% of $7,300

Workers’ wages re: October $6,570 --- 90% of $7,300

Utilities $5,590

Insurance $1,200

Rent $4,100

Total disbursements $150,690

Ending balance

= $159,705 - $150,690

= $9,015

8 0
3 years ago
The following information is taken from the income statement of Olympic, Inc.: Depreciation Expense $ 90,000 Amortization Expens
Lina20 [59]

Answer:

The correct option is D,$402,000.

Explanation:

In determining the cash flow provided by operating activities,we need to adjust the net income for effects of non cash items reported.It is important  to note that the reverse of the earlier treatment of the items is what is required now.For instance depreciation and amortization  were deducted in  income statement,for cash flow purposes we need to add both to net income.

Net income                          $315,000

add depreciation                $90,000

amortization                         $15,000

loss on sale of equipment  $9,000

less gain on sale of building($27000)

Cash flow from operations  $402,000

The cash flow from operating activities as adjusted is $402,000.

6 0
2 years ago
A firm can effectively use its operations function to yield competitive advantage through all of the following except
ira [324]

Answer:

The correct answer is b.setting equipment utilization goals below industry average.

Explanation:

A firm cannot achieve competitive advantage by setting its equipment utilization goals as this will not retain its customers.

If a firm wants to achieve competitive advantage it can achieve it by;

Addressing its customers concerns and customizes the products according to their needs.  

Providing customers their ordered products earlier than other companies lead time, which means increase in speed of delivery and shortens the delivery time.

Bring improvement and advancements in its products by using new technology.

Maintain a variety of different product options to cater the needs of its various customers. Offering them a wide range of products will probably reduce chances of customer switch.

4 0
3 years ago
compensating differences in wages, pay workers for: group of answer choices differences in the nonmonetary characteristics of jo
Ksivusya [100]

compensating differences in wages, pay workers for:  differences in the nonmonetary characteristics of jobs.

Non-monetary job characteristics incorporate job security, the kind disposition of colleagues, the degree of regard given by one's chief, etc. While non-monetary job characteristics have worth, they might be troublesome or difficult to evaluate.

Non-monetary Factors:

1. Status:

A worker is spurred by better status and assignment. Associations ought to extend employment opportunity titles that convey the significance of the position.

2. Appreciation and acknowledgment:

Representatives should be valued and sensibly made up for every one of their accomplishments and commitments.

3. Balance between fun and serious activities:

Representatives ought to be in a situation to adjust the two significant fragments of their life — work and life. This equilibrium causes them to guarantee the nature of work and life. A decent worker is a propelled representative.

4. Assignment:

Assignment of power advances devotion and responsibility among workers. Workers are fulfilled that their boss has confidence in them and this rouses them to perform better.

5. Working circumstances:

Sound working circumstances, for example, appropriate ventilation, legitimate lighting and appropriate sterilization further develop the work execution of representatives.

6. Job improvement:

This gives workers additional difficult undertakings and obligations. The job of the representative turns out to be more significant and fulfilling.

7. Job security:

This advances worker association and better execution. A worker ought not be saved on a transitory reason for an extensive stretch.

to know more about job security click here:

brainly.com/question/29339822

#SPJ4

6 0
1 year ago
Which of the following is not true of credit scores?
Irina-Kira [14]
The one that is not true of Credit scores is :
A. only the Credit Bureaus truly know Credit scores are calculated.
They indeed have several benchmark that could be used to calculate it, but with enough information, everyone can predict the score
7 0
3 years ago
Read 2 more answers
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