BUSINESS HIGH SCHOOL

An asset having a four-year service life and a salvage value of $6,000 was acquired for $50,000 cash on April 5. Using straight-line depreciation, what will be the depreciation expense at the end of the first year, December 31?

Answers

Answer 1

Answer:

Answer:

the depreciation expense at the end of the first year, December 31 is $ 8,250

Explanation:

Straight line Method of Depreciation Charges the same amount of depreciation over the useful life of the asset.

Depreciation Charge = (Cost - Salvage Value) / Useful Life

Depreciation Charge = ($50,000-$6,000) / 4 years

= $11,000

Apportionment of Depreciation Charge

From April 5 to December 13 there are 9 months

Therefore depreciation for the year is apportioned as follows :

Depreciation Charge = 9/12× $11,000

= $ 8,250

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The slope of a curve is defined as the upper delta upper yδy divided by the upper delta upper xδx . (assume the y values are on the vertical axis and the x values are on the horizontal axis) suppose your business operates a machine at a cost of $250250 per day whether it is used or not plus $5050 for each hour it is used. use the line drawing tool to draw the daily cost curve for this machine assuming an 8 hour day. label the curve 'cost'.

Answers

Explanation:

The cost function for this industry is given by,

$TC = FC + VC*Q$

$TC = $250 + $50(Number of hours used)$

When it is used for full 8 hours, total cost is

$TC= 250 + 50(8) = 250 + 400 = $650$

When it is used for 7 hours, TC is $600.

When it is used for 6 hours, TC is $550

When it is used for 5 hours, TC is $500.

When it is used for 4 hours, TC is $450.

When it is used for 3 hours, TC is $400.

When it is used for 2 hours, TC is $350.

When it is used for 1 hours, TC is $300.

When it is used for 0 hours, TC is $250.

Thus, the cost curve will look like the diagram given below.

The amount of a good that must be given up to produce another good is the concept of:a.
scarcity.
b.
specialization.
c.
trade.
d.
efficiency.
e.
opportunity cost.

Answers

e.) Opportunity cost is the cost associated with giving up one opportunity for the benefit earned by another.

A low credit score can lead to A. lower monthly loan payments. B. denial of credit or loans. C. a more favorable interest rate. D. access to incentives.

Answers

The answer should be B

Answer:

Explanation:

Right on edge :))

You are opening up a brand new retail strip mall. You presently have more potential retail outlets wanting to locate in your mall than you have space available. What is the most appropriate tool to use if you are trying to determine the optimal allocation of your retail space?

Answers

Answer:

A) Profitability index.

Explanation:

Based on the scenario being it can be said that the most appropriate tool to use in this specific situation would be a Profitability index. This is a ratio that weighs the payoff to the investment of a specific project. It is allows individuals to rank projects on the amount of value that they will be getting from them. Thus allowing you to choose the most optimal projects in situations such as this one.

Oriole Company sells office equipment on July 31, 2017, for $21,900 cash. The office equipment originally cost $76,780 and as of January 1, 2017, had accumulated depreciation of $36,270. Depreciation for the first 7 months of 2017 is $4,070. Prepare the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Answers

Explanation:

The journal entries are shown below:

a. Depreciation expense A/c Dr $4,070

To Accumulated Depreciation - Equipment A/c $4,070

(Being depreciation expense is recorded)

b. Cash A/c Dr $21,900

Accumulated Depreciation - Equipment A/c $40,340

Loss on sale of an equipment $14,540

To Equipment $76,780

(Being sale of equipment is recorded and the remaining balance is debited to the loss on sale of an equipment)

The accumulated depreciation is computed below:

= $36,270 + $4,070

= $40,340

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Answers

Answer:

Explanation:

The journal entry is shown below:

Wages and Salaries Expenses A/c Dr $90,000

To Wages and Salaries payable $90,000

(Being salary are paid to the employees)

In the given question, cash transaction is not involved so we credited to the wages and salaries payable and since salary is paid so it is an expense that's why we debited it.

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