What is the book value of an asset at the beginning of year 8 if its FC is P2 500 000 and with economic life of 12 years using double declining balance method? O B729716 O P728501 O P673321 O P697704
Q: Prepare the following: Balance Sheet and Closing Entries
A: In Closing entries, accounts (Revenue and Expense) are closed using Income summary account. The…
Q: In October 2021, United Corporation obtained a loan amounting to US $ 120,000 for the purchase of…
A: The question is based on the concept of financial accounting.
Q: 2- For the above Shoe Store please construct a Balance Sheet on the first day of 2020, at 9am with…
A: A balance sheet is the statement which shows about the financial status in terms of the strength…
Q: A simple trust has the following receipts and expenditures for the current year. The trust…
A: Taxable income is the total of all incomes earned by the taxpayer during the relevant year. Tax…
Q: b. Sammy issues a 3% GH¢ 200,000 two-year convertible bond at par. The effective rate of interest of…
A: The bonds are the long-term liabilities because the bonds are generally paid beyond 12 months. A…
Q: December 31, 2021 $57.000 Accounts payable $26,125 58,425 Interest payable 4,750 10,640 Bonds…
A: An income statement refers to the financial statement of a company that reflects the income…
Q: escribe two exceptions to this generalization. What is the essential characteristic of the…
A: A cash flow statement refers to the statement that provides accurate data which are related to…
Q: s were completed during
A: The cash flow statement as,
Q: Asap Impact of the Financial Accounting Standard Board
A: The Financial Accounting Standards Board was formed to develop reporting standards. It is one of the…
Q: orting entity remai ed company's perfo d in the parent's fin
A: To find the correct option as,
Q: The cost to operate a clothes dryer for a year is $80.25. If the rate for electrical energy is…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: How much gain should be reported for tax purposes?
A: Meaning : The profit which arrives from the sale of Capital Assets is known a Capital Gains. The…
Q: REQUIRED: Record any necessary Journal entries to account for the following transaction. Jan 31"…
A: As given The firm is selling one refrigerator (initial cost: $12,000) for $21,600 with a two-year…
Q: Markie is employed by Holy Cross as an ambulance driver with a salary of Php. 20,000 a month. In…
A: Income is defined differently depending on the situation, such as for taxation or analysis.…
Q: Milton Company reported inventory of $60,000 at the beginning of 2014. During the year, it purchased…
A: Cost of Goods Sold: The term "cost of goods sold" (COGS) refers to the direct expenses that are…
Q: The Wildcat Oil Company is trying to decide whether to lease or buy a new computer- assisted…
A: Cost of Equipment = $9100000Life (In years) = 5Residual value = Salvage value = $950,000Tax rate =…
Q: A small gift shop has a beginning inventory that is valued at $9,400. If the additional inventory…
A: COST OF GOODS SOLD : = BEGINNING INVENTORY + PURCHASES DURING THE YEAR - ENDING INVENTORY
Q: Which of the following adjusting entries are mandatorily reversed in the succeeding accounting…
A: Reversing entries are made at the beginning of the new accounting period to enable a smoother…
Q: 5. What is the value of the total cost? A company makes a single product with a total capacity of…
A: Total Cost of Production: You may determine the cost of production, also known as the cost price or…
Q: Heg Se & Ea Bue Cab Company had 67,000 shares of common stock outstanding on January 1, 2021. On…
A: Diluted earnings per share (EPS) is a metric used to analyze the quality of a company's EPS after…
Q: %24 %24 %24 %24 %24 geNOWv2 | Online teachin X…
A: Formula: Interest = Principal x Interest rate x Time / 360 days
Q: Christopher, a staff auditor of the Sycip, Gomez, Velayo & Co. took and passed the examination for…
A: Residency in the countries are applicable when an individual fulfils the conditions given by the…
Q: Pierce, a single taxpayer, sold his home this year. He had owned and lived in the house for 10…
A: A recognized gain occurs when an investment or item is sold for a higher price than it was…
Q: What information do we get from the income statement?
A: Income statement is a financial statement which is prepared on periodical basis along with Balance…
Q: On October 1, 2020, Mertag Company (a U.S.-based company) receives an order from a customer in…
A: Forward contract: Forward contract can be defined as the agreement between two parties i.e. buyer…
Q: Required information [The following information applies to the questions displayed below] Precision…
A:
Q: QUESTION 1 Below are the statements of Financial Position for Grace Ltd as at 31 December, 2009 and…
A: Cash Flow Statement- A cash flow statement is an important component of the company's financial…
Q: 3. Consider the abbreviated financial statements below for 2015 and 2016 Arch Enterprises 2015 &…
A: Owners Equity = Current Assets + Net Fixed Assets - Current Liabilities - Long Term Debt
Q: 6. A capital investment has a net present value of $1 000 at a rate of return of 10 percent. At a 12…
A: Net Present Value (NPV): When doing an analysis of the profitability of a project or investment,…
Q: news service, has used communication 2. Agence France Press, facilities to send its news to its head…
A: The communication tax is levied on every conversation from Country P to another overseas country.…
Q: Will Inc. accounts for inventory using the dollar-value LIFO method. The following information is…
A: Ending inventory refers to the value of stock lying with the entity at the end of the reporting…
Q: uses 34,000 rolls annually in the production of deli sandwiches. The costs to make the rolls are:…
A: Introduction:- The following basic information as follows under:- Currently total cost to make the…
Q: Problem no. 1 ABC Corporation has the following transactions throughout the year of 2020: Jan ABC…
A: The amount received or fair value of asset (tangible or intagible) above the face value of issued…
Q: On January 1, 2019, Villanueva Company classified noncurrent assets as held for sale that had a…
A: Here discuss about the fact to use the non current assets which are held for use and not use for…
Q: ompany's performanc the parent's financial
A: To find the correct option as,
Q: d. Cash Receipts…
A: Jan Feb Mar Total Sales Value 90,000 1,10,000 1,20,000 Sale in…
Q: 1. Citibank pays 9% ordinary simple interest on a 30-day time deposit. How much money will the…
A: Future Value: A present asset's future value, abbreviated as FV, is the value that asset is expected…
Q: What is the difference between book value accounting and market value accounting? How do interest…
A: The answer is stated below:
Q: Computing and Analyzing a LIFO Liquidation Chide’s storage facility was shut down due to a strike…
A: When a company liquidates its inventory, the most recently bought inventory is sold first. When a…
Q: elyx Manufacturing produces concrete garden border sections. At the beginning of the process, all…
A: Process costing: process costing is a costing method used by companies which produce homogeneous…
Q: Journalize the entries to record the liquidation outlined below, using “Assets” as the account title…
A:
Q: 1. The Villa Pawnshop charges 24% simple interest on the loan of all items pawned to them. If Rose…
A: Introduction: When you payment on a simple interest loan, the first portion of the payment is…
Q: Nena invested real property in the year 2017 amounting to P 2,000,000. In 2018, the value of the…
A: Answer:- Income meaning:- Individuals and businesses get money, property, and other transfers of…
Q: 1. J. Santos promoted featuring Manny amounted tO P3,000,000 and additional receipts from TV…
A: For the purpose of the amusement tax, the term "gross receipts" embraces all the receipts of the…
Q: please help me solve this question!
A: Statement of profit and loss shows how much net income has been earned in the business during the…
Q: Perez Company is considering an investment of $30,485 that provides net cash flows of $9,000…
A: Internal rate of return is the rate at which the present value of cash inflows is equal to the…
Q: 16. The primary goal of managerial accounting is to provide information to: a. creditors b.…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: nare of IBM stock for a share of C hs stock rip mall in upstate new York for
A: To find the correct option as,
Q: JenStar's blu-ray disc segment was held for sale at year end. There is a formal plan in place to…
A: It is the income left after incurring all expenditure from revenue. Net income is determined by…
Q: Should the Federal Reserve take the decision to introduce its own digital currency into circulation,…
A: Efficient policymaking: Because a digital dollar would be issued and managed entirely by the Fed, it…
ENGINEERING ECONOMY
Step by step
Solved in 2 steps
- 7) Consider the following information: Asset Cost $56,000Salvage value 1,000Life 10 yearsDepreciation method Straight Line a. What is the depreciation in year 3? b. What would the depreciation in year 4 be if at the beginning of the year we think that the total asset life will be only 8 years instead of 10 years?Using DBM, when is the t year with a book value of P5,653 if the asset is bought at a price of P19,044.00 and a salvage value of P2,193.00? The economic life is expected within 7 years.Approximately. what is the value of the total Present worth (where Ptotal= PA + PG) if G (arithmetic gradient) =40, n=9 years, A340 and i 8% per year? Select one: Oa 2487 Ob.4015 Oc 2996 Od 3596
- If the annual deposit into depletion reserve is $ 1000 and annual interest on capital investment is $ 125, then find annual net income- -- Select one: O a. $ 1125 b. $ 875 c. $ 1025 d. $ 97515. Given the following table of financial data for an asset that was bought today and whose service life is 3 years, what is its economic service life if the interest rate is 8%? Market Value ($) 23,000 18,000 15,000 12,000 Year (n) O&M Cost ($) 3,400 4,500 5,700 1 3Assume that an asset has a first cost of P94,158.00 and an expected salvage value of P15,613.00 after 12 years. Calculate the book value directly at the end of year 4.
- 3 Approximately , what is the value of ( P ) it F - 114140 , n - 9 years , and in 8 % per year ? a . 57098 b . 76512 c 47392 d . 68518 Approximately , what is the value of the total Present worth ( where Ptotal = PA + PG ) if G ( arithmetic gradient ) -50 , n - 11 years , A - 380 and i 10 % per year ? a 3788 b . 5076 c 3145 d 4546The following cash-flow streams need to be analyzed: END OF YEAR CASH-FLOW STREAM $1 $2 $3 $4 5 W 100 200 200 300 1,$300 X 600 – – – – Y – – – – 11,200 Z $200 – $500 – 0,300 a. Calculate the future (terminal) value of each stream at the end of year 5 with a compound annual interest rate of 10 percent. b. Compute the present value of each stream if the discount rate is 14 percent.Consider the following timeline: Date Cash flow $100 OA. $627 OB. $482 OC. $600 OD. $964 2 $200 3 $300 If the current market rate of interest is 10%, then the present value (PV) of this timeline as of year 0 is closest to ICCESS
- An asset with a purchase price of $486,966 falls in the 5-year MACRS asset class. The asset will be sold at the end of a three year project for $153,883. What is the book value of the asset at the end of the project? Round your answer to the nearest dollar. Year Depreciable Allowance 1 20% 32 19 12 11 6. 6. 4-7. An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8000.Calculate the depreciation charge at the end of the fourth period using fixed-percentage method. with cash flowThe capitalized Čost A of an asset is given by A= Ao t c(t) e-** dt %3D Where A is He onginal investment t is the time in years r3 the anneal interest rate Gn decimal form) compounded Coine ously, and A) is the annual Cast of mantenance Cin dollacs) a) Find the capitalized Cust of an asset for n=5 years when A = $ 140,000 c(t) = $ 12,000 t , T:.04. %3D Cost b) Find the capitalized cosp of an asset forever cit)= $12,000 t, r:.04. Ao = $ 140,000