the andrews company has just purchased $52,956,000 of plant and equipment that has an estimated useful life of 15 years. the expected salvage value at the end of 15 years is $5,295,600. what will the book value of this purchase (exclude all other plant and equipment) be after its second year of use?
Answers
The purchase's book value will be $3530400.
What does a business purchase mean?A corporation or organization uses the purchasing process to buy products or services in order to achieve its objectives. Although many businesses make an effort to establish standards for the purchasing process, procedures can differ significantly between firms.
Briefing:
Depreciation expenses = Cost - Salvage value / Expected useful life of the plant and equipment
Depreciation expenses = $52,956,000 - $52,956,000 / 15 years
Depreciation expenses = $52,956,000 - $3530400
Depreciation expenses = $49425600
Book value = Cost - Depreciation expenses for first year
Book value = $52,956,000 - $49425600
Book value = $3530400
Thus, the book value of plant and equipment after its first year of use is $3530400.
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Related Questions
explain any four consumer rights as stipulated in the CPA
Answers
It’s a bill that has/says that every person has four basic consumer rights. Which are -“the right to be informed, the right to choose, the right to safety, and the right to be heard. ”
Answer:
The right to be informed, the right to choose, the right to safety, and the right to be heard.
Explanation:
These rights received a lot of attention from the consumer movement, a movement to pass laws protecting consumers from unfair and unsafe business practices.
A refrigerator of width w and height h rests on a rough incline as in Figure P8. 25 (page 268). Find an expression for the maximum value theta can have before the refrigerator tips over. Note, the contact point between the refrigerator and incline shifts as theta increases and treat the refrigerator as a uniform box
Answers
By comparing the torque caused by the weight to the torque caused by the frictional force, the maximum angle at which a refrigerator will topple over on an inclined surface may be calculated.
The forces operating on the refrigerator must be taken into consideration to calculate the maximum angle theta at which a refrigerator will topple over on an inclined surface. As the angle of inclination rises, the weight of the refrigerator will produce a torque near the point of contact with the slope.
The frictional force acting on the refrigerator, which opposes the weight torque, must balance this torque. The maximum value of theta may be calculated by equating these two torques. This equation will depend on the refrigerator's weight, coefficients of friction, and size.
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Why would high start-up costs serve as a barrier to competition?
Answers
True or false? goods-producing organizations are not involved in service activities.
Answers
The given statement that goods-producing organizations are not involved in service activities is fasle.
Do businesses that produce things also engage in services?Organizations that manufacture goods do not engage in service activities. false The majority of systems combine products and services. . Because consumer demand is unpredictable, service operations need more inventory.
Organizations that manufacture goods do not engage in service activities. Because consumer demand is unpredictable, service operations need more inventory. The prices consumers are prepared to pay for goods or services serve as a gauge of the value of outputs.
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Austin Manufacturing manufactures a single product. Cost, sales, and production information for the company and its single product is as follows: Click the icon to view the data.) More info - Sales price per unit $51 - Variable manufacturing costs per unit manufactured (DM, DL and variable MOH)$30 - Variable operating expenses per unit sold $5 - Fixed manufacturing overhead (MOH) in total for the year $150,000 - Fixed operating expenses in total for the year $45,000 - Units manufactured during the year 15,000 units - Units sold during the year 13,000 units Requirements 1. Prepare an income statement for the upcoming year using variable costing. 2. Prepare an income statement for the upcoming year using absorption costing. 3. What causes the difference in income between the two methods?
Answers
1. The income statement for the upcoming year using variable costing shows a net income of $108,000.
2. The income statement for the upcoming year using absorption costing shows a net income of $93,000.
3. The difference in income between the two methods is caused by the treatment of fixed manufacturing overhead costs.
1. To prepare the income statement using variable costing, we consider only the variable costs directly associated with the production and sale of the units. This includes the variable manufacturing costs per unit manufactured ($30) and the variable operating expenses per unit sold ($5). Since 13,000 units were sold during the year, the total variable costs amount to $13,000 * ($30 + $5) = $455,000. Deducting the variable costs from the sales revenue per unit ($51) * 13,000 units, we find the net income to be $108,000.
2. To prepare the income statement using absorption costing, we include both variable costs and a portion of fixed manufacturing overhead costs in the cost of each unit. The fixed manufacturing overhead costs of $150,000 are spread over the 15,000 units manufactured, resulting in a fixed manufacturing overhead cost per unit of $10 ($150,000 / 15,000 units). The total cost per unit under absorption costing is then $30 + $10 = $40. Multiplying this by the units sold (13,000 units) gives us a total cost of $520,000. Subtracting the total cost from the sales revenue, we find the net income to be $93,000.
3. The difference in income between the two methods is caused by the treatment of fixed manufacturing overhead costs. In variable costing, fixed manufacturing overhead costs are not included in the product costs and are treated as period expenses. As a result, the net income under variable costing is higher because it does not allocate a portion of the fixed costs to the units. In contrast, absorption costing allocates fixed manufacturing overhead costs to the units produced, resulting in a lower net income as these costs are spread across a smaller number of units sold.
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How important are signs.symbols and designs in relation to carpentry?if you do not have access to internal.you may answer based on your opinion
Answers
Answer:
Symbols—such as gestures, signs, objects, signals, and words—help people understand that world. They provide clues to understanding experiences by conveying recognizable meanings that are shared by societies.
Explanation:
I HOPE IT HELPS PO...☺️☺️☺️describe two examples of human capital that you have developed
Answers
Two examples of human capital that can be developed are:
Education : by enrolling in school, education is developed. During the process of education, skills needed for the production of goods and services in developed.
Job experience : by undertaking internships and summer jobs, labour is developing their human capital.
What is human capital?
Human capital are qualities that labour posses that are useful in the production of goods and services. Human capital is an an intangible asset. It is the economic value attached to labours' skills and expertise.
Examples human capital are:
Education. experience Mental and emotional well-being. People management. Communication skills.To learn more abut human capital, please check: https://brainly.com/question/7193861
which one of the following would you judge to be the best example of circulation?
Answers
Circulation refers to the movement or flow of a substance, such as blood, air, or water, within a closed system or a specific area.
Some common examples of circulation include:
1. Blood circulation in the human body, where the heart pumps blood to transport oxygen, nutrients, and waste products to and from cells.
2. Atmospheric circulation, which involves the movement of air masses due to temperature differences, leading to the redistribution of heat across the Earth.
3. Ocean circulation, where ocean currents distribute heat, maintain water temperature and regulate climate.
Please review the options you have and compare them to these examples to determine the best example of circulation.
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Select the correct answer.
At which stage of problem solving should you discuss the problem with colleagues?
B. evaluating the information
C. gathering information
D. making a choice
E. taking action
Plato/Edmentum
Answers
Answer:
E or D
Explanation:
D because it doesn't hurt to get a second opinion and see what your colleagues think
E Because your actions or decisions when it comes to a business can affect your colleagues.
Which factor plays the biggest role in motivating economic decisions in a
market economy?
O A. Corruption in the leadership of powerful groups
O B. Commitment to maintaining a traditional lifestyle
O C. Competition between different businesses
D. Cooperation between governments and citizens
Answers
Cooperation between governments and citizens: plays the biggest role in motivating economic decisions in a market economy. Thus, option D is the correct option.
What Is a Market Economy?A market economy is a kind of capitalism in which a nation's companies and residents interact to determine economic policy and the cost of products and services. Although there may be some central planning or government interference, this phrase often denotes a more generally market-oriented economy.
The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand. In a market economy, entrepreneurs are free to pursue profit by producing outputs that are worth more than the inputs they use, or, if they choose not to, to fail and close their doors. The forces of supply and demand are used in market economies to set the right prices and quantities for the majority of products and services.
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7. Jannah is reviewing a report that a new marketing manager put together after assessing her small business. If Jannah wants to learn how familiar a custo
what section of the marketing report should she review?
Answers
To learn how familiar a customer is to the company, Jannah must look at the leads section of the marketing report.
What is a marketing report?It consists of a document through which an organization can visualize its performance over a period of time, through the analysis of data and information about the company's actions and strategies to achieve objectives and goals in the market.
Through qualitative and quantitative reports related to communication and sales, for example, the company is able to make more significant decisions about its strategy, with evaluations and corrections that will contribute to continuous improvement and positioning in the market.
So leads could be the section that Jannah would review to identify a potential customer, as this data significantly demonstrates an individual who engages with the company's business and can be turned into a customer.
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What law requires businesses to communicate more openly about the hazards associated with the materials they use and produce and the wastes they generate
Answers
Answer:
Occupational safety and health act.
Explanation:
Occupational safety and health act is a set of law put together to ensure a standard for a safe and healthy working environment for employees and an assurance of workplace safety .
One of the guidelines to a safe working environment is the requirement that businesses should communicate more openly about associated hazards with the materials they use and produce and the waste they generated as well so that every employee will have a good understanding of related potential hazards and will be careful in complying with the safety measures in place to prevent occurrence.
Suppose the U.S. government levies a tax that requires all people to pay 5% of their income to be used for environmental preservation. What type of tax would this be
Answers
Suppose the U.S. government levies a tax that requires all people to pay 5% of their income to be used for environmental preservation. type of tax would this be Proportional
The primary sources of revenue for state and local governments are sales taxes, property taxes, and federal revenues. State and local governments impose taxes that are levied on businesses.
State and local governments collect tax revenue from her three main sources: income tax, sales tax, and property tax. Income and sales taxes make up the majority of all state tax revenue, and property taxes are the largest source of revenue for local governments, including school districts. Income taxes are paid to both the federal government and most state governments. Learned 50 terms.
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You have decided that you want to be a millionaire when you retire in 45 years.
Requirement 1: If you can earn an annual return of 11.16 percent, how much do you have to invest today? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Investment$
Requirement 2: What if you can earn an annual return of 5.58 percent? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Investment$
Answers
Requirement 1: If you can earn an annual return of 11.16 percent, how much do you have to invest today? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Investment $ The amount of money you have to invest today if you want to be a millionaire when you retire in 45 years, if you can earn an annual return of 11.16 percent is $4,190.25. Requirement 2: What if you can earn an annual return of 5.58 percent? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Investment $ If you can earn an annual return of 5.58 percent, how much do you have to invest today if you want to be a millionaire when you retire in 45 years? The amount of money you need to invest today is $12,331.65. What is the present value of an annuity? The present value of an annuity is the value of a group of future cash flows at the current time. For example, if an investor can expect to receive a set amount of cash for a certain number of years in the future and would like to know what that amount is worth in the present.
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on january 1, 2022, woodstock, inc. purchased a machine costing $40,000. woodstock also paid $1,000 for transportation and installation. the expected useful life of the machine is 6 years and the residual value is $5,000. how much is the annual depreciation expense assuming use of the straight-line depreciation method?
a. $6,100.
b. $6,000.
c. $5,950.
d. $5,750.
Answers
The annual depreciation expense assuming the use of the straight-line depreciation method is $6,000. Option B.
Calculation:
Annual depreciation under SLM:
= (Asset cost-Salvage value) + Useful life of the asset
= ($40,000+$1,000 - $5,000)/6
= $36,000/6
= $6,000
Residual value, also called residual value, is the estimated value of an item of property, plant, and equipment at the end of the lease term or useful life. In a leasing situation, the lessor uses the residual value as one of the primary ways to determine how much the lessee will pay in regular lease payments. Residual value is one of the components of a lease calculation or transaction.
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What is a good reason to contribute to a 401(k) retirement account?
It helps employees pay monthly expenses.
It guarantees the same salary after age 70.
The money in the 401(k) account doubles each year.
The money in the 401(k) account is not taxed until withdrawn.
Answers
Answer:
The money in the 401(k) account is not taxed until withdrawn.
Explanation:
A 401 (k) can be defined as a type of compensation (savings) plan that is being sponsored by a business firm or company (employer) to avail its employees the opportunity to contribute into. As a company-sponsored and defined-contribution retirement savings plan, it offers tax advantages to the employees because it reduces their income tax for the particular year while taxing their withdrawals.
A good reason to contribute to a 401 (k) retirement account is that, the money in the 401 (k) account is not taxed until withdrawn. Thus, the money contributed by an employee to a 401 (k) will maintain its tax-deferred status until he or she withdraws it.
For example, a 401 (k) would be the best retirement savings option for a 50-year old medical doctor whose employer offers a 5% contribution match.
In what way does a deductible help an insurance company?
It adds to the company's pool of funds.
It increases consumers' insurance premiums.
It lowers the payout the company has to make.
It reduces consumers' co-payments.
Answers
Answer:
it lowers the payout the company has to make
Explanation:
Deductible help an insurance company by: It lowers the payout the company has to make.
What is insurance?Insurance can be defined as the coverage that help to cover costs in case of unexpected circumstance.
Insurance companies often makes use of deductibles by making policyholders to pay part of the claims. This help to reduce the money that the insurance company is expected to pay the policyholder in case of unforessen circumstance.
Inconclusion deductible help an insurance company by: It lowers the payout the company has to make.
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Assume the following:
Sales
$ 240,000
Overapplied overhead
$ 8,000
Cost of goods manufactured
$ 180,000
Beginning finished goods inventory
$ 10,000
Ending finished goods inventory
$ 14,000
Answers
The net operating income in this case would be, approximately $30,000 (Option A).
How is this so?To calculate the net operating income,we need to subtract the cost of goods sold and selling and administrative expenses from the sales revenue.
Cost of Goods Sold (COGS) can computed like this.
Beginning Finished Goods Inventory+ Cost of Goods Manufactured - Ending Finished Goods Inventory
COGS = $10,000 + $180,000 - $14,000 = $176,000
Net Operating Income = Sales - COGS - Selling and Administrative Expenses
Net Operating Income = $240,000 - $176,000 - $33,000
= $31,000
Therefore, the net operating income is $31,000. The closes option to this is Option A.
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Full Question:
Although part of your question is missing, you might be referring to this full question:
Assume the following:
Sales
$240,000
overapplied overhead
$ 9,000
Cost of goods manufactured
$180,000
Beginning finished goods inventory
$ 10,000
Ending finished goods inventory
$ 14,000
Sei i ing and administratlve expenses
$ 33,000
What is the net operating income?
Multiple Choice $30,000 $22.000 $16.000
What are the 4 market segmentation variables?
Answers
The four categories or basis for market segmentation are Geographic Market Segmentation, Demographic Market Segmentation, Psychographic Market Segmentation, Behavioral Market Segmentation
What advantages does market segmentation offer?Market segmentation offers a number of advantages and aids in identifying the consumers most likely to buy your good or service. Here are just a few advantages you might encounter: You'll design marketing campaigns that appeal specifically to the target market. You'll keep more of your clients. Your target market will be more devoted to your brand.
What factors ought companies to think about when segmenting their markets?Targeted advertising campaigns, increased brand loyalty, improved product development, and the ability to increase profit margins are all advantages of market segmentation.
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Tamica doesn’t say because she lives with her parents and doesn’t think she needs any savings since they cover most of her bills which of the following is an argument against her thinking
Answers
Answer:
Savings prepare for emergencies
Explanation:
They really do
Savings prepare for emergencies.
How much should you have in your savings account for emergencies?Even as the scale of your emergency fund will vary relying on your lifestyle, costs, profits, and dependents, the rule of thumb is to put away a minimum of three monthly months' nicely really worth of expenses.
What should monthly you save monthly for a catastrophe?Some financial specialists advocate saving for three-6 months well well worth of residing fees, and even though that is without a doubt an intention month-to-month aspire month-to-month, constructing an emergency fund period of this value is a daunting challenge, and as an end result, lots of us throw in the month before even getting started out.
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Suppose the U.S. Treasury announces plans to issue $50 billion of new bonds. Assuming the announcement was not expected, what effect, other things held constant, would that have on bond prices and interest rates?
Answers
Answer:
Prices would decline and interest rates would rise
Explanation:
This is because the market will be flooded with additional 50 billion dollars of bond increasing the supply causing the price to fall. Interest rate are inversely proportional to prices thus interest rate will rise.
What would bill fall under, he applied and acquired for a new credit card and uses it regularly?
Answers
If he applied and acquired for a new credit card and uses it regularly he will fall under: Voluntary.
What is credit card?Credit card can be defined as the card that enables the card holder to carryout transactions such as purchases online in which the holder is expected to payback the amount used for the purchases.
If a obtain a new credit card which he use often or frequently, bill will tend to fall under voluntary because he voluntary applied for the credit card without being comply to do so.
Therefore bill will fall under voluntary.
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What action can you take to provide the most help to a team that has worked together for more than a year and is familiar with the project work
Answers
Answer: Aim should be reemphasized regularly, deadlines set and there should be a reward system.
Explanation:
Over familiarity breeds negligence or lost of steam or enthusiasm in a project. They are things that should be put into place to avoid being to familiar with projects and sleep on them;
- The aim and objective for which the was started should be reemphasized daily or weekly, this would help the team have it in mind that they would need to be on their best
- Deadline should be sets for smaller aspect of the project. The project should be split into phase and deadlines set to meet up each phase
- There should be a reward system. This strengthens the team to do more and make the team know that their value and input is well appreciated
Oceanview Marine Company Audit Program - Accounts Payable (continued) December 31, 2018 AUDIT PROCEDURES INIT W/P COMMENTS BC A Co Ro 30-11 to 30-19 BC 30-20 4. Obtain list of cash disbursements after year-end to perform search for unrecorded liabilities and tests of year-end payables balances: determine scope of testing: select items for testing: trace amounts representing accounts payable at year-end to listing of accounts payable; d.) evaluate and summarize any payments representing potential omissions or misstatements of year-end accounts; evaluate acceptability of the population. BC E Со A Increase due to higher volume and increased inventory. ANALYTICAL PROCEDURES 5. Compare accounts payable and accrued liabilities in the current year to prior years and obtain explanations for significant differences, STATEMENT PRESENTATION 6. Determine if groupings are consistent with previous periods. 7. Reclassify any debit balances. P BC Yes. Consistent. A P BC None 8. Done Verify that accounts payable is classified as a P BC current liability on the balance sheet. Audit Objectives: Accuracy Classification Completeness Cutoff Detail tie-in Presentation and disclosure Rights and obligations Existence
Answers
Thus, the audit program aims to ensure that the accounts payable balance is accurate, complete, and properly classified on the balance sheet, and that all obligations related to accounts payable are disclosed appropriately in the financial statements.
The Oceanview Marine Company Audit Program - Accounts Payable (continued) for December 31, 2018 includes several audit procedures.
One of these procedures is to obtain a list of cash disbursements after year-end to search for any unrecorded liabilities and to test the year-end payables balances. The auditor should determine the scope of testing, select items for testing, and trace amounts representing accounts payable at year-end to the listing of accounts payable. The auditor should also evaluate and summarize any payments that may represent potential omissions or misstatements of year-end accounts and evaluate the acceptability of the population.Another procedure is to perform analytical procedures by comparing accounts payable and accrued liabilities in the current year to prior years and obtaining explanations for any significant differences. The auditor should also determine if the groupings are consistent with previous periods.In terms of statement presentation, the auditor should verify that accounts payable is classified as a current liability on the balance sheet. The audit objectives for this procedure include accuracy, classification, completeness, cutoff, detail tie-in, presentation and disclosure, and rights and obligations.Know more about the Audit Program
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what is the most money you get in a job?
Answers
Answer:
it depends on the job but it is a Anesthesiologists
Answer:
I think being a rapper or being in the NBA OR NFL OR MLB
Explanation:
what objects are necessary for the formation of shadows ?
Answers
Answer:
The following three things are required for a shadow to form:
a source of light.
an opaque object.
a screen or surface behind the object.
25 PTS!!! PLEASE HURRY URGENT!!
a period in economic decline marked by falling GDP and rising unemployment for two quarters in a row is an? A. through B. contraction C . Recession D. depression A_pex
Answers
Answer:
The answer is c
Explanation:
I hope it helped
Answer:
C
Explanation:
the government wants to transfer welfare from buyers to sellers by collecting a $1 tax on a good from buyers and subsidizing sellers $1 for each unit of the good sold. this policy will: a. decrease the equilibrium price b. increase the equilibrium quantity c. increase the equilibrium price d. decrease the equilibrium quantity
Answers
The government policy above will decrease the equilibrium price of the goods. The correct answer to the question above is option A. decreases the equilibrium price.
The equilibrium price is the condition where the demand for goods matches the supply or the condition where the supply and demand are balanced.
In a market in equilibrium condition, the price reflects an exact balance between buyers and sellers. Market equilibrium rarely happens.
There are some types of equilibrium:
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In a bank reconciliation, deposits outstanding are: a. subtracted from the bank balance. b. added to the book balance. c. added to the bank balance. d. subtracted from the book balance.
Answers
In a bank reconciliation, deposits outstanding are b. added to the book balance.
What is book balance?The book balance is the balance of cash in a company's general tally, while the bank balance is the balance of cash in the company's bank account. Deposits outstanding are deposits made by the company that haven't yet been recorded by the bank.
To attune the book balance with the bank balance, outstanding deposits are added to the book balance. This is because the book balance formerly includes the deposits made by the company, while the bank balance doesn't yet reflect those deposits until they're recorded by the bank.
Thus, the correct answer is b. added to the book balance.
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identify which group of accounts may require adjustments at the end of the accounting period.
Answers
Answer:unearned revenue, Supplies, prepaid rent
Explanation: