The depreciation for 2018 should be $5,625. The correct answer is $5,625.
Let's go through the process of calculating the depreciation for 2018 using the straight-line depreciation method and the updated residual value.
1. Initial cost of the machine: $55,000
2. Original residual value: $5,000
3. Service life: 10 years
4. Original annual depreciation: ($55,000 - $5,000) / 10 = $5,000
Now, let's consider the revision of the residual value in 2018:
5. Revised residual value: $0
6. Remaining service life in 2018: 10 years - 2 years (2016 and 2017) = 8 years
First, we need to calculate the book value of the machine at the end of 2017:
7. Book value at the end of 2017: Initial cost - (Original annual depreciation × 2 years) = $55,000 - ($5,000 × 2) = $45,000
Now, we can calculate the revised annual depreciation for the remaining service life:
8. Revised annual depreciation: (Book value at the end of 2017 - Revised residual value) / Remaining service life = ($45,000 - $0) / 8 years = $5,625
The correct answer is $5,625.
The complete question is:
on january 1, 2016, the holloran corporation purchased a machine at a cost of $55,000. the machine was expected to have a service life of 10 years and a $5,000 residual value. the straight-line depreciation method was used. in 2018 the estimate of residual value was revised from $5,000 to zero. depreciation for 2018 should be:
Multiple Choice
$4,500
$5,500
$5,625
$5,000
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Answer:
300
Explanation:
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Answer: Occupation or exploitation
Explanation:
Foreign business would find it differently difficult to break into the local market of a particular environment. One of the ways they can break into such market is by exploitation. They have to exploit the market by carrying out extraordinary deeds in what their products offer or how they intend selling their product to the local market they are approaching. They need to be creative with their plan and seek ways to capture the fancy of these market.
Answer:
Some of the characteristics of successful leaders are that they must be able to direct, guide and commit their employees. In this example, Barbara is just doing that, she is telling her employees what will be done in a way that they both agree upon and believe it is a good option.
She was able to stop an argument that could eventually lead to more serious problems within the organization and provided a solution that satisfied both parties.
b) Independent professional services that report on specific written management assertions
c) Independent professional services that improve the quality of information for decision makers
d) Independent professional services that improve the operations of the client
Answer: Option B
Explanation: Assurance service is an autonomous professional service, generally provided by Chartered or Certified Public Accountants or Chartered Certified Accountants, with the purpose of improving details or information context to enable judgement call-makers to make more knowledgeable judgments.
Auditing by independent third party is the prime example of assurance services. Hence from the above we can conclude that the correct option is B.