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3 years ago

Straight-line, declining-balance, and activity-based refer to methods commonly used to.

Business

2 answers:

Ray Of Light [21]3 years ago

8 0

Answer:

depreciate

Explanation:

Straight-line, declining-balance, and activity-based refer to methods commonly used to <u>_depreciate_</u> property, plant, and equipment.

Darina [25.2K]3 years ago

7 0

Answer:

depreciate

Explanation:

Straight-line, declining-balance, and activity-based refer to methods commonly used to .... depreciate... property, plant, and equipment.

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Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a u

aliina [53]

Answer:

Great Adventures

Journal Entries on July 1, 2022:

Debit Equipment Account with $12,000

Credit Cash Account with $12,000

To record the purchase of a used Suburban.

Debit Vehicle Insurance with $1,800

Credit Cash Account with $1,800

To record payment of one year vehicle insurance.

Debit Equipment Account with $3,000

Credit Cash Account with $3,000

To record the payment for repainting and placing logo.

Debit Equipment Account with $2,000

Credit Cash Account with $2,000

To record deluxe roof rack and trailer hitch on the vehicle.

Maintenance on October 22:

No Journal Entry Required in July.

Explanation:

a) The initial amount spent to purchase the vehicle is capitalized, i.e. recognized in the asset's account (Equipment Account).

b) Vehicle insurance is not capitalized. It is a period cost that should be recognized in the income statement.

c) Repainting and putting logo on the vehicle is capitalized because it adds to the value and brings the vehicle to its use. All expenditure that helps to bring an asset to its use and increases the future value is capitalized.

d) The deluxe roof rack and trailer hitch is also capitalized since they increase the future benefits of the vehicle.

7 0

3 years ago

Hawley company makes decorative wedding cakes. The company is considering buying the cakes rather than baking them, which will a

worty [1.4K]

Answer:

1. Continue to Make the Cakes. Because the Cost of Outsourcing is greater that the cost of making by $1,150.

2. C. Qualitative factors include quality and on-time delivery.

Explanation:

<u>Analysis of the Make or Buy Decision</u>

Make Outsource Difference

Cake costs cakes cakes

Variable costs:

Direct materials $550 $0 $550

Direct labor $950 $0 $950

Variable manufacturing overhead $150 $0 $150

Fixed manufacturing overhead $1,125 $1,125 $0

Purchase cost $0 $2,800 ($2,800)

Total differential cost of cakes $2,275 $3,925 ($1,150)

<u>Qualitative Factors.</u>

Are non-monetary factors that need to be considered in decision making.

8 0

3 years ago

Sales prices of baseball cards from the 1960s are known to possess a right skewed distribution with a mean sale price of $5.25 a

VMariaS [17]

Answer:

option b is correct

Normal with a mean of $5.25 and a standard error of $0.28

Explanation:

Given data

mean = $5.25

standard deviation SD = $2.80

sample n = 100

to find out

sampling distribution

solution

we will find here first mean error that is

standard error = SD/ √n

put here value n and SD

standard error = 2.80 /√100

standard error = 0.28

and we know here that by central limit theorem that is state that sample distribution of sample mean is approximate normally distribute with Standard error and mean so

mean with normal is 5.25

Hence

option b is correct here

Normal with a mean of $5.25 and a standard error of $0.28

7 0

3 years ago

Ironwood company had assets of $248,000 and liabilities of $160,000. during 2022, assets increased $28,000 and liabilities incre

Reptile [31]

$340,000. stockholders' equity on December 31, 2022

$280,000 + ($375,000 - $285,000) - $30,000 = $340,000

Total Assets = Penalties + Owner's Equity

<h3>How to Calculate Current Liabilities. </h3>

The equation must counteract because everything the firm owns must be purchased from debt (liabilities) and assets (Owner or stockholders equity). The owner's equity is computed by adding up all of the business assets and removing all of its liabilities.

To calculate current liabilities, you ought to add together all the money you owe lenders within the next year (within 12 months or less). Current liabilities contain current payments on long-term loans (like mortgages) and client deposits.

To learn more about Current Liabilities visit the link

brainly.com/question/13076734

#SPJ4

4 0

2 years ago

A trader sold short a cotton futures contract @ 76.98 cents per pound. Contract size is 50,000 pounds. How much does the trader

shutvik [7]

Answer:

$6360

Explanation:

Contract value when the trader sold short = 76.98c * 50000 = $38,490

Contract value when he closed out his contract = 64.26c * 50000 = $32,130

Since the trader had sold short, he is speculating that the price of the futures contract will go down. The value of the contract did go down (in the traders favor) so the difference in value when he sold short and when he closed out his contract will be the profit gained in dollars. Please note that the initial futures prices are quoted in cents and would need to be converted to dollars by dividing by 100c i.e. 3,213,000c = $32,130

Therefore the profit made by the trader in dollars is $38,490 - $32.130 = $6360

3 0

3 years ago