On January 2, Year 1, Jones Corporation purchased a truck for $39,000. The truck has a 5-year estimated life and a $4,000 estimated salvage value. Jones expects to drive the truck 100,000 miles during its useful life. Prepare the depreciation schedule for Year 1 through Year 5 using each of the following depreciation methods; Straight-line method, 200 declining balance method, and Sum-of-years-digits method. You have to construct the depreciation schedules to answer this question. Make sure that all of your calculations should be done on the excel formula bar to show how you obtained your answers.
Answers
Answer:
Straight-line method:
depreciation expense year 1 = ($39,000 - $4,000) / 5 = $7,000depreciation expense year 2 = $7,000depreciation expense year 3 = $7,000depreciation expense year 4 = $7,000depreciation expense year 5 = $7,000200 declining balance method:
depreciation expense year 1 = 2 x 1/5 x $39,000 = $15,600depreciation expense year 2 = 2 x 1/5 x $23,400 = $9,360depreciation expense year 3 = 2 x 1/5 x $14,040 = $5,616depreciation expense year 4 = 2 x 1/5 x $8,424 = $3,369.60depreciation expense year 5 = $5,054.40 - $4,000 = $1,054.40Sum-of-years-digits method:
depreciation expense year 1 = 5/15 x $35,000 = $11,666.67depreciation expense year 2 = 4/15 x $35,000 = $9,333.33depreciation expense year 3 = 3/15 x $35,000 = $7,000depreciation expense year 4 = 2/15 x $35,000 = $4,666.67depreciation expense year 5 = 1/15 x $35,000 = $2,333.33Related Questions
Based on your risk tolerance, which strategy do you think you would use--dollar-cost averaging or
lump sum investing? Explain your reasoning.
Answers
Dollar-Cost Averaging is less risky than Lump-Sum Investing but with lower returns. A person who has a low tolerance for risk will opt for Dollar-Cost averaging.
What Is Dollar-Cost Averaging?This refers to an investment strategy that involves dividing up the total amount to be invested across periodic purchases of a particular asset. This serves to reduce the impact of volatility.
What is Lump-Sum Investing?As the name implies, this means that investor puts all or a huge bulk of their money into the market all at once.
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Silver Star, a construction company, uses a distinctive seven-pointed star that is part of its brand. This star is an example of a
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A construction company called Silver Star employs a striking seven-pointed star as part of its branding. An illustration of an abstract logo is this star.
What is an abstract logo?Marketing experts claim that businesses employ brand names to help potential buyers remember their names. However, a marketing logos campaign that helps clients recall the companies' names is successful.
A geometrically complex shape that conceptually represents your company instead of an identifiable symbol or image is known as an abstract logo. More crucially, abstract logos can add more meaning to an image, turning yours into a distinctive, lively brand.
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The law in your state allows an employer to create an
enforceable agreement that restricts an employee's
postemployment activities as long as the restriction is
reasonable in terms of purpose, geographic area, and
duration. Your employer is a dominant force in the
technology industry, an industry that is ever changing at
a rapid pace. As a result, top employees want the flex-
ibility to move from company to company. Of course,
having and keeping top employees is a competitive
advantage. Assume that you are an executive charged
with determining whether your firm will embrace a
postemployment restriction within its contracts of
employment. If you adopt a justice theory approach,
what result might you adopt, and why? If you adopt a
utilitarianism approach, what result might you adopt,
and why?
Answers
Utilitarian theory respects all persons equally without particular regard and assists people in making moral decisions. The utilitarian theory provides a basic technique. According to utilitarian philosophy, humans value all moral terms such as self-sacrifice, justice, and honesty.
There are various philosophies of justice, including utilitarianism, justice as fairness, and libertarianism. Utilitarians were those who supported utilitarian doctrine. With utilitarian theory being one of the theories of justice, the researcher was compelled to investigate how the theory provides justice to people, how it impacts human behaviour, and the issues the theory faces in the present world. Act utilitarians argue that their theory gives compelling grounds to reject many conventional moral statements and substitute them with moral perspectives based on the consequences of actions. People who are persuaded by act utilitarianism's critics may decide to abandon utilitarianism outright and adopt another form of moral theory.
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The journal entry to record a credit sale is:______.a) cash; service revenue.
b) accounts receivable: sales.
C) accounts receivable: sales return and allowances.
d) cash; sales.
Answers
Answer:
b) accounts receivable: sales.
Explanation:
When sales are made on credit, no cash is received, hence, the appropriate entries would be to record expectation of future cash receipt by debiting accounts receivable while sales revenue is credited because sales are recorded when entity has delivered goods to the customer and not necessarily when cash in respect of the sales has been received
If the sales tax rate is 7.25% in New York State, then how much sales tax would you pay in Albany for a $34 pair of pants?
Answers
Answer:
2.51
Explanation: youre welcome
What basic business principle does the author of your reading material state that automakers ignored in recent years, leading to the need for an industry bailout?
Answers
A sustainable financial model that is adaptable to changing market conditions is what was ignored
The principle that was ignoredThe core concept that industry titans overlooked, eventually necessitating a bailout, was constructing and sustaining a pliable monetary ploy attuned to shifting market conditions.
Prior to the aid package, auto-manufacturers homed in on sales of high fuel-consumption SUVs and trucks which were appealing due to inexpensive gas costs combined with easily accessible credit.
The dismayingly tardy adaptation to changing patron likes for more fuel-thrifty and environment friendly motorsides - along with mounting rivalry from overseas powerhouses - drove automakers into a perilous condition, where they ultimately felt the blow of 2008’s global fiscal crunch, harshly diminshing productivity as well as profits.
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A___ offers support or guidance to a less experienced person.
O mentor
O mentee
O friend
O supervisor
Answers
Answer: Mentor
Explanation:
A mentee is the person being supported and guided.
A friend could support ad guide, but they are not always more experienced.
A supervisor could support and guide, but their job is to supervise.
Culture clashes frequently happen when ________ within an organization interpret rules differently based on their levels within the organization
Answers
Based on sociological research study, culture clashes frequently happen when subcultures within an organization interpret rules differently based on their levels within the organization.
This is because subculture is a term that is used to describe a group of individuals within a large group, usually within an organization, who share the same characters such as problems and experience that is peculiar to them.
Culture clashes occur when this group of people with similar identity or functions interpret rules or objectives differently based on their statuses within the organization.
Hence, in this case, it is concluded that the correct answer is "Subculture."
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Which is a disadvantage of enrolling in a debt-settlement program?
A. The details of the program are fixed and cannot be changed.
B. Your credit report can be negatively impacted.
C. Payment options are limited and require fees.
D. It is difficult to prove that the debt has been satisfied when it is
paid off.
Answers
Answer:
Debt Settlement Program Disadvantages
A debt settlement program requires you to stop paying your creditors, which will add a significant amount to your debt because of late charges and the interest applied. ... Debt settlement is a gamble. If your creditors refuse to settle, you'll be in an even worse financial situation.
A disadvantage of enrolling in a debt-settlement program is the details of the program are fixed and cannot be changed. Thus, the correct answer is option A.
What is debt?Debt is an obligation that requires one party, the debtor, to pay another party, the creditor, money or other agreed-upon value. Debt is a delayed payment, or series of payments, as opposed to an immediate purchase.
Debt settlement firms, also known as "debt relief" or "debt adjusting" firms, frequently claim they can negotiate with our creditors to reduce the amount we owe. For-profit companies offer debt settlement programmes, which involve the company negotiating with your creditors to allow you to pay a "settlement" to resolve your debt. The settlement is another term for a lump sum payment that is less than the total amount owed.
Therefore, the details of the debt settlement program are fixed and cannot be changed.
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Given the company’s concerns, what should you focus on first?
a. End-user education
b. Physical security
c. Business continuity
Answers
As per the company's concerns, the focus is first on the physical security of the business. Hence option B is correct.
What is a business?A business is a regular occupation or a activity that one engages to make a living. The business is a form of activity that is carried out to meet the needs and satisfaction of the people want and needs.
In general, the company in order to be in a business needs to have physical security so that its assets and resources don't get wasted or destroyed.
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3. Mr. and Mrs. Howard want to buy a home valued at $280,000. If they have 15% of this amount saved for a down payment, how much have they saved?
Answers
Answer:
they have 42,000 saved I hope I'm right
1. A person risks losing most or all of his or her money in (a) a savings account (b) an elective savings program (c) a speculative investment (d) a conservative investment
Answers
Advantages of supermarkets?
Answers
Answer:
you can buy and get stuff in physical form.
Explanation:
Answer:
You get to see what your buying
Explanation:
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Based on its growth prospects, a private investor values a local bakery at $750,000. She believes that cost savings having a present value of $50,000 can be achieved by changing staffing levels and store hours. Based on recent empirical studies, she believes the appropriate liquidity discount is 20 percent. A recent transaction in the same city required the buyer to pay a 5 percent premium to the asking price to gain a controlling interest in a similar business. What is the most she should be willing to pay for a 50.1 percent stake in the bakery
Answers
Answer:
the maximum that paid to acquire bakery is $336,672.
Explanation:
The computation is shown below;
= (Value of local bakery + Present value of cost savings) × (1 - discount) × ( 1 + premium) × willing stake of bakery
= ($750,000 + $50,000) × (1 - 0.20) × (1 + 0.05) × 0.501
= $336,672
Therefore, the maximum that paid to acquire bakery is $336,672.
We simply applied the above formula
Felch was employed as a member of the faculty of
Findlay College under a contract that permitted dis-
missal only for cause. He was dismissed by action of the
President and Board of Trustees, which did not comply
with a contractual provision for dismissal that requires
a hearing. Felch requested the court to grant specific per-
formance of the contract and require Findlay College to
continue Felch as a member of the faculty and to pay
him the salary agreed upon. Is Felch entitled to specific
performance? Explain.
Answers
Whether Felch is entitled to specific performance of his contract with Findlay College will depend on the specific terms of the contract and the circumstances surrounding his dismissal.
What is a contract?A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of a particular transaction or relationship. It establishes the rights and obligations of each party involved and provides a framework for the exchange of goods, services, or money. Contracts can be written or verbal, but written contracts are generally preferred as they offer a clear and unambiguous record of the agreement. They typically include information such as the identities of the parties involved, the subject matter of the contract, payment terms, deadlines, and dispute resolution mechanisms. Breaching a contract can have legal consequences, including monetary damages or other remedies specified in the contract.
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The night manager of Dixie Transportation Service, who had no accounting background, preparcd
the following balance sheet for the company at February 28, 2009.The dollar amounts were taken
directly from the company's accounting records and are correct. However, the balance shect con-tains a number of errors in its headings, format, and the classification of assets, liabilities, and owners equity.
Answers
To create an accurate and informative balance sheet, the night manager of Dixie Transportation Service should correct the headings, reformat the statement to present assets, liabilities, and owner's equity vertically, and classify the items correctly according to their nature and duration.
The provided balance sheet contains several errors in its headings, format, and classification of assets, liabilities, and owner's equity.
The balance sheet is a financial statement that reports a company's financial position at a specific point in time. However, the given balance sheet has a number of issues that need to be addressed.
Firstly, the balance sheet lacks proper headings, such as the company name, date, and the title "Balance Sheet." These headings are essential to provide context and clarity to the financial statement.
Secondly, the format of the balance sheet needs improvement. Assets, liabilities, and owner's equity should be presented in a vertical format, with assets listed first, followed by liabilities and owner's equity. The current presentation mixes these categories, making it difficult to distinguish between them.
Thirdly, the classification of assets, liabilities, and owner's equity is incorrect. The balance sheet fails to differentiate between current and non-current assets and liabilities.
Moreover, it does not provide separate categories for long-term liabilities and owner's equity components like common stock and retained earnings.
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Which of the following best describes the supporting schedule used in a financial model?
Answers
The supporting schedule used in the financial model summarizes the company's profit and loss.
The choice is D. Financial models are employed when attempting to value a company or when contrasting one company with others in the same sector. numerous models that could lead to various outcomes.
A supporting schedule is a thorough itemization of an account's contents. When conducting an audit of a client's financial statements, auditors frequently use it as part of their examination of the client's accounting records.
Supporting schedules provide additional information about entries made as supplements to the balance sheet. They assist in providing a more thorough breakdown of broad categories of assets and liabilities.
The complete question is:
Which of the following best describes the analysis of financial statements and financial reporting?
A) The terms "financial reporting" and "financial analysis" both refer to how businesses present their financial performance.
B) Financial reports analyze an organization's historical performance to make predictions about its capacity to produce cash and profits in the future.
C) The goal of financial analysis is to give users all types of information about an entity's financial situation that they can use.
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Help
Sove & Exit
Submit
For the current fiscal year, Purchases were $350,000, Purchases Returns and Allowances were $5,000 and Freight In was $29,000. If the
beginning merchandise inventory was $210,000 and the ending merchandise inventory was 595,000, the Cost of Goods Sold is:
Answers
Answer:
212,000
Explanation:
FILL IN THE BLANK. Company X allocated a large budget for web-based communication to promote its products. To determine the effectiveness of these communications, it should use ________ to measure how much time viewers spend on particular web pages, the number of pages they view, how many times users click banner ads, which website they came from, and so on.
Answers
To determine the effectiveness of these communications, Company X should use web-tracking software to measure how much time viewers spend on particular web pages, the number of pages they view, how many times users click banner ads, which website they came from, and so on.
Web-tracking software is a tool that track, measure, and report website activity and visitor behaviors such as traffic, performance, and the user clicks. Its objective is to show the user what is happening on their website so they can optimize the website according to their goals.
Several web-tracking software that can be used are:
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5.6 Last month Quick Industries produced 900 units. This month they produced 1,264 units. What is the rate of change in production? a. 29.8% b. 32.8% c. 40.4% d. 60%
Answers
Answer: C. 40.4%
Explanation:
To find the rate of change in production, we can use the following formula:
Rate of change = (New value - Old value) / Old value * 100
Where,
Old value = Production of last month = 900
New value = Production of this month = 1264
Substituting the values in the formula,
Rate of change = (1264 - 900) / 900 * 100= 364 / 900 * 100= 0.404 * 100= 40.4%
Therefore, the rate of change in production is 40.4%, which is an option (c). I hope that this answer has helped you!
Answer:
The correct answer is C.
Explanation:
The rate of change in production is: (1264 - 900) / 900 = 0.404 or 40.4%. So, the correct answer is c. 40.4%
What describes the relationship between edge computing
and Cloud computing?
Answers
The relationship between Edge computing and cloud computing is a that edge computing is a subsection of cloud computing. Cloud computing is about hosting applications in a core data centre whlie edge computing is about hosting applications closer to end users either in smaller edge data centres.
What is computing?Computing can be defined as the use of a computer to process data or perform calculations. Computing may encompass the design and development of software and hardware systems for a broad range of purposes often structuring processing and managing any kind of information
Therefore edge computing is a subsection of cloud computing
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Many unethical behaviors lead to the passage of legislation that makes those
behaviors legal.
TRUE OR FALSE
Answers
These unethical behavior examples help identify what is not considered These are just some of the many different examples of unethical behavior that could occur. Double standard which makes it unethical and causes a black eye to law .In verse 14 it says Truth has fallen in the public squares (KJ says streets. So true
Hope this helps have a great day :)
Rowan is interested in becoming a florist. Her mother’s best friend works at the local flower shop and has agreed to let Rowan observe what she does after school for a week. This is an example of _____.
a. an internship
b. job shadowing
c. vocational education
d. volunteer work
Answers
Answer:
B: Job Shadowing
Explanation:
on edgen
Answer:
pretty sure its b
Explanation:
sorry if im wrong
Due to the politicization of epidemic prevention and control by American politicians, the issue of whether to wear masks in American society is still polarized, which seriously affects the epidemic prevention and control.
Answers
The issue of whether to wear masks in American society is still polarized, which seriously affects the epidemic prevention and control due to the political undertone.
Why is the epidemic prevention and control about whether to wear masks in American society is still polarized?The epidemic prevention and control about whether to wear masks in American society is still polarized because of the political undertone which implies it was politicized and this very dangerous for the society.
Hence, The issue of whether to wear masks in American society is still polarized, which seriously affects the epidemic prevention and control due to the political undertone.
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U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $7,790. Assume that the average amount spent on a debit card is normally distributed with a standard deviation of $500.
Required:
A consumer advocate comments that the majority of consumers spend over $8,000 on a debit card. Find a flaw in this statement. (Round your final answer to 4 decimal places.)
Answers
About 33.72% of the consumers spend over $8,000 on a debit card.
What is z score?The z score is used to determine by how many standard deviations the raw score is above or below the mean. It is given by:
z = (raw score - mean) / standard deviation
Given that:
Mean = $7790, standard deviation = $500, for > $8000:
z = (8000 - 7790)/500 = 0.42
P(z > 0.42) = 1 - P(z < 0.42) = 1 - 0.6628 = 0.3372
About 33.72% of the consumers spend over $8,000 on a debit card.
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i need help please and thanks
Answers
What are the steps to create a new estimate in QuickBooks Online?
Answers
...
Select Acceptedfrom the Status drop-down arrow.
When you see, The Transaction you are editing is linked to others. ...
Select Save and close.
Add the estimate to a new invoice.
Answer:
Sales>all sales>New Transaction>Estimate
Explanation:
from the quiz
Ned's Natural Foods sells unshelled peanuts by the pound Historically, Ned has observed that daily demand is normally distributed with a mean of 80 pounds and a standard deviation of 10 pounds Lead time also appears normally distributed with a mean of eight days and a standard deviation of one day. Use Table What ROP would provide a stock out risk of 10 percent during lead time? (Round your answer to the nearest whole number.) rope units What is the expected number of units (pounds) short per cycle? (Round your answer to 3 decimal places.) Expected number of units
Answers
Answer:
a) 749
b) 4.073
Explanation:
Given:
Mean = demand = 80 pounds
Standard deviation of demand = 10 pounds
Lead time = 8 days
Standard deviation of lead time = 1 day
a) What ROP would provide a stock out risk of 10 percent during lead time.
To find this re-order point (ROP) quantity, take the formula:
\( ROP = d(LT) + z \sqrt{ LT \sigma_d ^2 + LT^2 \sigma_L_T ^2} \)
Here, service level = 100%-10% = 90%,
Thus z at 90% = ±1.28
\( ROP = 80(8) + 1.28 \sqrt{8* 10^2 + (8)^2*(1)^2} \)
\( ROP = 640 + 1.28\sqrt{800 + 64} \)
= 640 + 1.28* 84.85
= 748.61
≈ 749 units
b) What is the expected number of units (pounds) short per cycle.
Find the number of units shorts per cycle. Take the formula:
\( E(n) = E(z) * \sigma d_L_T \)
[
Where E(z) = standardized number of shorts = 0.048
\( \sigma d_L_T \) = standard deviation of lead time demand = 84.85
Therefore,
E(n) = 0.048 * 84.85
= 4.073
Match each term in column A with it’s definition in column B Column A 1. barter 2. money 3. currency 4. monetary unit 5. depositor 6. Bureau of the Mint 7. electronic funds transfer (EFT) 8. Federal Revenue System Column B a. The use of computers to receive and make payments. b. The standard unit of value of a country’s currency. c. A person who places money in an account in a bank for safety and earnings. d. Anything generally excepted in payment for goods and services. e. Money that is easy to carry because it is paper. g. An organization that regulates the nations banks and its money supply. h. An organization that manufactures US coins.
Answers
Matching each monetary term in Colum A with its definition in Column B is as follows:
Column A Column B
(Monetary Terms) (Definitions of the monetary terms)
1. Barter f. the exchange of goods for goods.
2. Money d. Anything generally excepted in
payment for goods and services.
3. Currency e. Money that is easy to carry because it
is paper.
4. Monetary unit b. The standard unit of value of a
country’s currency.
5. Depositor c. A person who places money in an
account in a bank for safety and earnings.
6. Bureau of the Mint h. An organization that manufactures the
US coins.
7. Electronic funds transfer (EFT) a. The use of computers to receive and
make payments.
8. Federal Revenue System g. An organization that regulates the
nation's banks and its money supply.
What is a monetary term?A monetary term is a description of economic knowledge or activity involving the use of money.
Examples of other monetary terms are:
InflationPriceTime value of moneyPurchasing powerProfitWages.Thus, the monetary terms have been matched correctly with their definitions.
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1. The level of prices and the value of money Suppose the price level reflects the number of doliars needed to buy a basket of goods containing one energy drink, one egg sandwich, and one bike rental. In year one, the basket costs
$15.00
. In year two, the price of the same basket is
$14.00
. From year one to year two, there is at an annual rate of In year one,
$120.00
will buy baskets, and in year two,
$120.00
will buy baskets. This example illustrates that, as the price level falls, the value of money Continue without saving
Answers
This means that the purchasing power of money increased by 100% from year one to year two.
The example illustrates that a decrease in the price level leads to an increase in the purchasing power of money. Mathematically, the rate of change in the purchasing power of money is equal to the inverse of the rate of change in the price level.
Thus, the rate of change in the purchasing power of money from year one to year two is equal to the inverse of the rate of change in the price level,
i.e., 1/($15.00–$14.00) = 1/1.00 = 100%.
This means that the purchasing power of money increased by 100% from year one to year two.
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