A company purchased new furniture at a cost of $17,000 on September 30. The furniture is estimated to have a useful life of 5 years and a salvage value of $2,300. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31
Answers
Answer:
The correct answer is $735
Explanation:
Solution
Given that:
Now,
The first step is to find How much depreciation expense will be recorded for the furniture for the first year ended December 31.
Thus,
The depreciation for a complete year under the method called straight line is given as follows:
The depreciation for a complete year under the method called straight line =(Cost -Salvage Value)/ Useful life
=($17,000 -$2,300) /5
=$14700/5
= $2940 per year
However,
Because the furniture was purchased on September 30, the depreciation will be computed from October to December (three months)
The depreciation for three months is shown below:
Depreciation = Yearly deprecation * 3/12
= $2940 * 3 /12
= $8820/12
=$735
Related Questions
Which of the following statements about Productivity are FALSE.
(a) It is the ratio of outputs divided by inputs.
(b) If a company improves productivity it means improvements in efficiency.
(c) Productivity can be increased by increasing the output with the same inputs.
(d) Productivity cannot be calculated for companies like Hospitals or Schools.
a and d
cand d
only c
only d
Answers
Answer:
hmmmmmmmmmmmmmmmmmmmmmmmm
The statement which is false about productivity is "Productivity cannot be calculated for companies like Hospitals or Schools". Thus, option 'D' is the correct option.
What is productivity?Productivity is a measure of how effectively commodities or services are produced. Productivity is sometimes represented as a ratio of the whole output to a single input or the total input utilized in a manufacturing process, or output per unit of input, usually over a predetermined time period.
The most typical illustration is the (aggregate) measure of labor productivity, where GDP per worker is one example. The selection of a productivity definition (including ones that do not refer to ratios of output to input) relies on the goal of the productivity assessment and/or the availability of data. Productivity has a key role in how well businesses and countries produce.
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Nora is interested in a career in human resource management. She expected her first job to focus on giving employees access to information and enrollment forms for training, benefits, and other programs. However, she has since learned that HR employees spend less time doing that kind of work. Which trend is behind that change
Answers
Answer:
employees can now get such information through self-service
Explanation:
The trend behind this change is that, employees can now get such information through self-service. Human resource Employees spend less time doing such work now because such information is readily available on the internet and can be accessed by any employee at anytime that they want to do so on their own.
At the end of its first month of operations, a company reported Revenue of $37,000. It also reported Wages Expense, $6,000; Rent Expense, $5,000; and Utilities Expense, $1,000. Calculate net income reported on the income statement at month-end.
Answers
Answer:
25,000
Explanation:
The net income reported on the income statement at the end of the month is $25,000.
At the end of its first month of operations, the company reported a Revenue of $37,000. Alongside this, it disclosed various expenses, including Wages Expense of $6,000, Rent Expense of $5,000, and Utilities Expense of $1,000. To calculate the net income reported on the income statement at the month-end, we need to subtract the total expenses from the revenue.
Total Expenses = Wages Expense + Rent Expense + Utilities Expense
Total Expenses = $6,000 + $5,000 + $1,000
Total Expenses = $12,000
Net Income = Revenue - Total Expenses
Net Income = $37,000 - $12,000
Net Income = $25,000
Therefore, the net income reported on the income statement at the end of the month is $25,000.
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b) Upscale hotels in the United States recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. A survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the Internet and the telephone, to transact business. Assume a company’s budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. Graphically illustrate how a 20 percent decline in the price of business travel would impact this company’s budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. Suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. Is the company allocating resources efficiently? Explain
Answers
It is to be noted that the company is not allocating resources efficiently. See the attached image for the Graphically illustration required.
What is allocation of resources?This is simply the ability to efficiently distribute resources across all aspects of production.
What is the proof that the company is misappropriating resources?MRS is the gradient of the budget line is defined by the change in the Y axis divided by the change in the x axis.
In other words, MRS is the number of units of x that a customer is ready to give up in exchange for units of y.
Note that
the MRS fo the budget line is:
-dy/dx
= -10.6/6.25
= -1.6, that is media 1.6 units of media is given for every unit of business travel.
However, the corporation claims that the MRS is -1, which indicates that for every unit of business trip, they give away one unit of media. In other words, they are paying a price equal to the cost of business travel, resulting in a resource misappropriation.
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A cellular company purchased $28,800 in cell phones on September 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650.
(a)
What is the net amount due (in $) if the cellular company sends the manufacturer a partial payment of $4,000 on October 20? (Round your answer to the nearest cent.)
$
Answers
To calculate the net amount due, we need to deduct the partial payment and any returns from the total amount of the purchase.
Given:
Purchase amount: $28,800
Returned goods: $650
Partial payment: $4,000
Net amount due = Purchase amount - Returned goods - Partial payment
Net amount due = $28,800 - $650 - $4,000
Net amount due = $28,150 - $4,000
Net amount due = $24,150
Therefore, the net amount due, after deducting the partial payment, is $24,150.
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What happens when the price of a good increases
Answers
Answer:
the value of good increases (goes up)
Which of the following demographic descriptors is used at the microsegmentation the process of segmentation of industrial markets?
A)Age of the firm
B)Size of the firm
C)Industry affiliation
D)Sex of the decider
Answers
The age of the business is a demographic description used in the process of segmenting industrial markets known as micro-segmentation.
How Should Industrial Markets be Segmented?Industrial marketers are not alone in believing that segmentation is a challenging task for them. Not only has there been little published on the issue as it pertains to industrial markets, but such analysis is also more sophisticated than that of consumer markets. The challenge is determining the optimal factors for segmenting industrial markets.
While segmenting consumer markets is challenging, it is considerably simpler and easier than segmenting industrial markets. Several distinct industrial items can be employed in the same application; similarly, the same industrial product can have several uses.
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What are the three main forms of legal ownership of a business
Answers
N 1: BUSINESS SECTORS Complete the table by referring to the companies/ profession and classify each under the correct business sector. Khulamini farming, Makwakwa Attorneys. Cape Timber & Mo Shoprite, Anglo platinum, Eskom. Thanda Construction (Pty) L PRIMARY SECTOR SECONDARY SECTOR TERTIARY SEC Advise businesses on the purpose (importance) of the private sector
Answers
Makwakwa Attorneys SECONDARY
Cape Timber & Mo SECONDARY
Shoprite SECONDARY
Anglo platinum SECONDARY
Eskom SECONDARY
What is the purpose and importance of the private sector?The private sector plays a crucial role in the economy by driving innovation, creating jobs and contributing to economic growth. It encompasses businesses and organizations that are privately owned and operated, rather than being under government control.
The private sector includes various industries such as agriculture, manufacturing, services, finance and more. Its purpose is to generate profit and provide goods and services to meet the demands of consumers. By operating independently, the private sector promotes competition, efficiency and entrepreneurship leading to economic development and increased prosperity.
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briefly explain which of the four organizational structures is appropriate for each of the four multinational enterprise (mne) strategic choices.
Answers
Each of the four multinational enterprise (mne) strategic choices—international, multi-domestic, global, and transnational—is appropriate for one of the four organizational structures.
Which organizational structure would be best?The majority of businesses, especially smaller ones that don't necessarily have a large number of departments or need for a lot of links in the chain of command or communication, should really start with a typical line organizational structure.
What is the MNE's structural layout?Structure inside an organization establishes the channels of authority, responsibility, and accountability. The organizational structure outlines the company's reporting links, policies, checks, and authorities, as well as its decision-making processes.
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You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year. How
much will you owe on the maturity date?
Answers
Answer:
$3,088.80
Explanation:
Note that the loan is meant for 120days , however, the interest rate quoted is on an annual basis, hence, the interest for 120 days is 2.96% ( 9%*120/365).
It is equally important to note that at maturity the loan principal and the interest accrued thus far for 120 days are repayable to the lender as computed below:
total repayment=$3000+($3000*2.96% )
total repayment=$3000+$88.80
total repayment=$3,088.80
I am not a very adventurous person on the job.
Answers
The adjective in your statement is "adventurous." It depicts the sort of individual you are, showing that you are not leaned to face challenges or search out new encounters in your work.
A Adjectives is a word that depicts or changes a thing or pronoun. It gives extra data about the thing or pronoun by giving insights regarding its quality, size, shape, variety, and so forth. Modifiers can be utilized to improve depictions and give more clear and explicit implications.
Adjectives are utilized to give more data about things or pronouns in a sentence. Generally, descriptive words assume a vital part in adding profundity, explicitness, and subtlety to our language, permitting us to communicate an extensive variety of data about our general surroundings.
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Your question is incomplete, probably the complete question is-
I am not a very adventurous person on the job. What is the adjective here?
Describe the depth of intervention theory?
Answers
The depth of intervention theory: to become involved just as deeply as is necessary to provide lasting answers. This is further explained below.
What is the depth of intervention theory?Generally, one should become involved just as deeply as is necessary to provide lasting answers to the issues at hand
In conclusion, Getting as deeply engaged as is required to find sustainable solutions; this is the idea behind "the depth of intervention hypothesis."
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The most important reason for today’s managers to study the history of management is so they can
A) avoid the mistakes of the past
B) reject all practices of earlier eras
C) develop their own theories
D) earn more money
Answers
The major reason why managers need to study the history of management is to A) avoid the mistakes of the past.
Importance of management history. Shows the types of management in the past. Shows their various successes and failures.From the successes and failures, a person is able to see the mistake that were made when using past management styles. This then allows them to avoid those same mistakes in the present.
In conclusion, option A is correct.
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Owing to his impulsive buying habits, Ronnie's unpaid credit card balances pile up to $9,000. As Ronnie does not have enough money to clear his bills, he is in a deep financial crisis. In this scenario, the first step that Ronnie should take is to:
Answers
In case of financial crisis where Ronnie is under debt is advised to avoid further usage of his credit card.
What is financial crisis?Financial crisis for an individual is when he is under huge debt and lacks money to clear his dues towards the creditors. In the above case, Ronnie is under financial crisis due to a credit card bill of $9000.
Ronnie lacks money to repay the amount of debt, and thus he is advised to stop using his credit card so that his debts do not pile up more. Also, he is advised to take financial help from a friend, so he can pay the bill, and avoid reducing his credit rating.
Hence, the steps to be taken by Ronnie during the condition of financial crisis are as aforementioned.
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The company is dedicated to developing high-quality housing projects that meet the needs of families and individuals, with a focus on affordability, sustainability, and innovation.
Answers
The focus of the company's housing projects is to provide affordable and sustainable housing solutions.
The focus of the company's housing projects is to address the global issue of housing affordability and sustainability. The company aims to provide cost-effective and eco-friendly housing solutions that cater to the needs of different income groups. They use sustainable building materials and technologies that reduce energy consumption, minimize waste, and lower carbon emissions.
In addition, the company works with local communities to understand their housing requirements and preferences, and designs housing projects that align with their needs. Overall, the company's focus on affordable and sustainable housing solutions contributes to the social, economic, and environmental well-being of the communities they serve.
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--The complete question is, What is the focus of the company's housing projects?--
The ledger of Sunland Rental Agency on March 31 of the current year includes the following selected accounts, before adjusting entries have been prepared.
Prepaid Insurance
Supplies
Equipment
Accumulated Depreciation-Equipment
Notes Payable
Unearned Rent Revenue
Rent Revenue
Interest Expense
Salaries and Wages Expense
Debit
$ 1,200
3,500
18,750
Credit
$ 8,370
25,000
9,000
62,000
17,000
An analysis of the accounts shows the following.
The equipment depreciates $465 per month.
One-third of the unearned rent revenue was earned during the quarter.
Interest of $625 should be accrued on the notes payable.
Answers
yes it should 625% of interest
The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year, while in Korea over the same period it was 4.2%. Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. Assume the growth rates for each country remain the same.
Compute the doubling time for France’s per capita real GDP.
Compute the doubling time for Korea’s per capita real GDP.
What will France’s per capita real GDP be in 2045?
What will Korea’s per capita real GDP be in 2045?
Answers
Answer:
Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. Assume the growth rates for each country remain the same. 1. Compute the doubling ... remain the same. 2. For Korea, the doubling time will be 72 ÷ 4.2 = 17.1years 3. ... Same with the above, there are 42yrs between 2003 and 2045.
Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. We use the rule of 70. The doubling time for France’s per capita real GDP is 70/1.9 = 36.8 years, so France's GDP will double in 2040. Explanation:
What is the purpose of the statement of cost of goods manufactured?
Answers
- to determine the ending materials inventory
- to determine the ending work in process inventory
- to determine the amounts transferred to finished goods
Explanation:
________is the interest that the bank pays you on the principal plus on the_________ that you earned the preceding year.
Answers
Answer:
Compound interest; interest.
Explanation:
Compound interest can be defined as the interest that the bank pays you on the principal plus on the interest that you earned the preceding year. Thus, it is simply calculated by adding an interest to the initial principal i.e compounding the interest rather than withdrawal.
Mathematically, compound interest is given by the formula;
\( A = P(1 + \frac{r}{n})^{nt}\)
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
Answer:
its compound interest and interest
Replenishing the Petty Cash Fund
illustration: On March 15 Zhu Ltd's petty cash custodian
requests a check for NT$2,610. The fund contains NT$390
cash and petty cash receipts for postage NT$1,320, freight-out
NT$1,140, and miscellaneous expenses NT$150. The journal
entry is:
Answers
Answer:
Explanation:
Postage expense. 1320
freight out. 1140
miscellaneous exp. 150
Cash. 2610
to replenish petty cash account
note that pettty cash is only debited or credited when you are increasing Or decreasing the petty cash fund. This entry appears to be only replenishing the petty cash account.
Let’s say Bob wants to offer an insurance package to his employees that will cover any outpatient surgery charges, tooth sealants, and glasses. His total annual cost for providing these insurance plans will be $
per employee for the year.
Let’s assume that Schmidt wants to cover his employees’ expenses in case of disability. He also wants to ensure that the family of an employee is provided for in the event of an employee’s loss of life. The total annual cost for providing these insurance plans will be $
per employee.
Answers
Answer: its 480$ per person
Explanation:
just got 100
Which investment bank underwrote the most bonds in 2013 and 2014?
Answers
The investment bank that underwrote the most bonds in 2013 and 2014 is: J.P. Morgan.
What is investment bank?
Investment bank is a financial institution that render various types of investment services to their clients or customers. Investment tend to deals in buying and selling of shares to investors.
J.P. Morgan was an investment bank that offers various investment services to investors and was known as the investment bank that underwrote the most bonds in the year 2013 and year 2014.
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Answer the following questions on the basis of the monopolist's situation is illustrated in the following graph.
a. At what output rate and price does the monopolist operate?
b. In the equilibrium, approximately what is the firm's total cost and total revenue?
c. What is the firm's economic profit or loss in equilibrium?
Answers
The following answers are based on a monopoly economy.
The output rate and the price at which the monopolist operates based on the graph is 100 quantities at $10.In the market equilibrium, the firm's total cost and total revenues are $750 and $1000 respectively. The firm's economic profit in the equilibrium is $250.What is a monopoly?A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product.
To arrive at answer a, we need to recall that the equilibrium of a monopolist is when the Marginal Cost equals the Marginal Revenue and the Marginal Cost Curve (MC) cuts the Marginal Revenue Curve (MR ) from below.
At this point, the equilibrium output is 100, and the equilibrium price is $ 10 for every unit of production.
For the answer is b, given that the firm is producing 100 units of goods at an average total cost of $7.5 (derived from the point that aligns with MR = MC), therefore,
Total Cost = Equilibrium Output * ATC (Average Total Cost)
= 7.5 * 100
= $750
To arrive at answer c,
Recall that Economic profit is the difference between the money collected from the sale of a product and the expenses of all inputs utilized, as well as any opportunity costs, is the economic profit or loss.
Hence, Economic Profit = Total Revenue (TR) Less Total Cost (TC)
= $1000 - $ 750
= $250
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You are assigned to promote the new products offered by the department store where you are working. What will you say ?
Answers
some things you can do:
- advocate the product(s)
- Share a personal Story or positive experience using the products
- use data (logos) to back up your claims and statistics (percentages) that can help convince and interest consumers
- share a story of a famous person (ethos) using your products
- explain how your product is made (is it organic? Vegan? Animal cruelty free? Gluten free? - if applicable) this provides full transparency and establishes trust with consumers
- try before your buy (offer samples)
- create discounts And Deals to lure customers
- create ads and advertise in places where your Target market will see them (for example if you were marketing weighted gloves you could Display the ad in a gym)
Oak wholly owns a material subsidiary, Birch. Birch has a material 30% interest in Willow. Oak also owns 40% of Beech, which is
material to Oak. Birch is an IESBA Public Interest Entity audit client.
Which of the following would be restricted entities?
Oak, Birch, and Willow
Birch and Willow
Oak, Birch, Willow and Beech
Birch, Willow and Beech
Confirm
Answers
According to IESBA Public Interest Entity audit client rules, the restricted entities are D. Birch, Willow, and Beech.
What is an IESBA Public Interest Entity audit client?According to the IESBA Public Interest Entity audit client guidelines, the restricted entities included Birch, Willow, and Beech.
The restricted entities have income that exceeds 10% of the consolidated incomes of the auditing firm, and they are legally related entities.
Data of Ownership Interests:Oak in Birch = 100%
Birch in Williow = 30%
Oak in Beech = 40%
Thus, the restricted entities, according to IESBA Public Interest Entity audit client rules, are D. Birch, Willow, and Beech.
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What is the easiest virtual learning program? (I’m tryna change programs)
Answers
Answer:
Udacity.com
Explanation:
I love using this its so easy and assemble come try it out!
Answer:
Khan Academy.
Khan Academy provides many courses you can study in, ranging from math to technology.I hope this helped at all.
Question 1: Ron Knuckle set up a business selling keep fit equipment, trading under the name of Buy Your Biceps Shop. He put $7.000 of his own money into a business bank account (transaction A) and in his first period of trading, the following transactions occurred. Transactions:
B: Paid rent of shop for the period: $3.500.
C: Purchased equipment (inventories) on credit: $5.000.
D: Raised loan from bank: $1.000.
E: Purchase of shop fittings (for cash): $2.000.
F: Sales of equipment cash: $10.000.
G: Sales of equipment, on credit: $2.500.
H: Payments for trade accounts payable: $5.000.
I: Payments from trade accounts receivable: $2.500.
J: Interest on loan (paid): $100.
Required: Identify the debit, the credit entries and the amount in the above transactions
Answers
Answer:
Explanation: YOU WOULD GET 300,000
how to gain competitive advantage
Answers
Answer:
I know ur answer.
Explanation:
1. become the low-cost supplier
2. develop differentiated, innovative products and services
3. target a niche: geography, industry, product/service
4. employ differentiated business methods and approaches.
Answer:
Gaining a competitive advantage can be challenging, but there are several strategies businesses can adopt to achieve this goal. Here are some recommendations to improve your business's competitiveness:
1. Differentiation: One way to gain a competitive advantage is to differentiate your product or service from those of competitors. You can stand out by focusing on a unique feature or benefit that none of your competitors offer.
2. Cost Leadership: Another approach is to lower your costs and offer lower prices than your competitors. This helps attract price-sensitive consumers who value cost savings while still making a profit.
3. Innovation: Building new and innovative products or services can help you stand out in the market, attract customers who like new trends, and establish a competitive advantage in the industry.
4. Quality products and services: Offering high-quality products or services can increase customer satisfaction and loyalty that can set a business apart from competitors.
5. Customer focus: Focusing on customer satisfaction by regularly evaluating customer needs and concerns, improving service or product quality, and striving to exceed customer expectations can create a competitive advantage for your business.
In summary, businesses can gain competitive advantage by offering unique features or benefits, lowering cost, innovating, providing high-quality goods and services, and focusing on outstanding customer service.
Hector received three A’s and one b in his college course. What is his grade point average? Assume each course is three credits. A=4.0, b=3.0, c=2.0, d=1.0
Answers
Answer:
I think it is A id don't know