3 Points Fill in the blanks: Problem: On July 1, 2020, ABC Company acquired vehicle costing P750,000. The management estimates that they can use it for 10 years and will be able to sell it at P75,000
Answers
1.Cost of vehicle = P750,000
Useful life = 10 years
Salvage value = P75,000
Annual depreciation expense = (Cost of vehicle - Salvage value)/Useful life = (750,000 - 75,000)/10 =675,000/10 = $67,500
Depreciation expense for Dec 31, 2020 (From July 1 to Dec 31) (For six months) = Annual depreciation expense x 6/12
= 67,500 x 6/12
= $33,750
The following adjusting entry will be made :
Journal
Date
Account Title and Explanation
Debit
Credit
Dec 31, 2020 Depreciation expense 33,750
Accumulated depreciation - Vehicle 33,750
(To record depreciation expense)
Account credited on the adjusting entry on December 31, 2020 was Accumulated depreciation - Vehicle
2. Depreciation expense was recorded as adjusting entry on Dec 31, 2020 = $33,750
3. Accumulated depreciation on Dec 31, 2020 = $33,750
Book value of vehicle on Dec 31, 2020 = Cost of vehicle - Accumulated depreciation on Dec 31, 202
= 750,000 - 33,750
= $716,250
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Related Questions
Two-thirds of a number is two more than one-half of another number. The sum of the number is 129. Find the numbers.
Answers
Answer: 57 ; 72
Explanation:
Given information
2/3 of a number is 2 more than (1/2) of another number
Sum = 129
Set variables
Let x be the first number
Let y be the other number
Set system of equations
\(1)~\dfrac{2}{3} x=\dfrac{1}{2} y+2\)
\(2)~x + y=129\)
Eliminate fractions in the 1) equation
\(\dfrac{2}{3} x\times6=\dfrac{1}{2} y\times6+2\times6\)
\(4x=3y+12\)
Move x and y onto the same side
\(4x-3y=12\)
Current System
\(1)~4x-3y=12\)
\(2)~x + y=129\)
Multiply 3 on both sides in 2) equation
\(x\times3 + y\times3=129\times3\)
\(3x+3y=387\)
Current System
\(1)~4x-3y=12\)
\(2)~3x+3y=387\)
Add 1) equation and 2) equation together
\((4x - 3y)+(3x+3y)=(12)+(387)\)
Expand parenthesis and combine like terms
\(4x - 3y + 3x + 3y = 12 + 387\)
\(4x + 3x - 3y + 3y=399\)
\(7x=399\)
Divide 7 on both sides
\(7x\div7=399\div7\)
\(\Large\boxed{x=57}\)
Substitute the x value into one of the equations to find the y value
x + y = 129
(57) + y = 129
y = 129 - 57
\(\Large\boxed{y=72}\)
Hope this helps!! :)
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'Money is what money can buy '
Explain this statement in at least 10 lines
Answers
Answer:
yes
Explanation:
you are only able to purchase item or subscribe to services with the limited money you have which means you can purchase an item worth more than you have
Explanation:
moreMoney is what money can by is explain in terms of which you are only able to purchase item or subscribe to services with the limited money you have which means you can purchase an item worth more than you have for example you have a hundred of Naira and you want to purchase and item worth more than you have
BRAINILIEST PLEASEWhat is a bank customer's share of the profits made on loans?
A. Stock dividends
B. Savings account interest
C. Exchange rates
D. Principal payments
Answers
Answer:
B. Savings account interest
When a tax is placed on the sellers of cell phones,
A. the size of the cell phone market and the price paid by buyers both increase.
B. the size of the cell phone market increases, but the price paid by buyers decreases.
C. the size of the cell phone market decreases, but the price paid by buyers increases.
D. the size of the cell phone market and the price paid by buyers both decrease.
Answers
When a tax is placed on the sellers of cell phones, the size of the cell phone market decreases, but the price paid by buyers increases.
With a tax on a good, consumers pay more, sellers are paid less, and there are fewer sales overall. The tax has the effect of shifting the quantity toward a position where the difference between the before-tax demand and the before-tax supply equals the tax.
A tax raises a buyer's price by more than the tax itself. Similar to that, the price the seller receives decreases, although only little. A tax increase has no impact on the demand curve and has no effect on how elastic supply and demand are.
The correct answer is option C.
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Where is the row selector located in Datasheet view?
above the top row of data
below the last row of data
to the left of the leftmost data
to the right of the rightmost data
Answers
Answer:
to the left of the leftmost data
Explanation:
A database management system (DBMS) can be defined as a collection of software applications that typically enables computer users to create, store, modify, retrieve and manage data or informations in a database. Generally, it allows computer users to efficiently retrieve and manage their data with an appropriate level of security.
A Datasheet view is simply the rows and columns of data in a table that are being displayed in database software application such as Microsoft Access and Excel.
In DBMS, rows are numbered numerically as 1, 2, 3, 4, 5, etc. from top to bottom while columns are labeled alphabetically as A, B, C, D, E, etc. from left to right. Thus, a row is the horizontal arrangement of cell while column is the vertical arrangement of cell in a spreadsheet (table of cells).
Generally, the row selector is located to the left of the leftmost data in Datasheet view.
Answer:
c
Explanation:
When the price of chocolate chip cookies increased to $3 per package, Samantha began to buy oatmeal cookies
instead. This situation is an example of the
The supply curve slopes upward because at a higher price, producers have
to produce more.
The price of shirts declines dramatically. Javier now feels richer and buys more shirts than he normally would. This
situation is an example of the
Answers
substitution effect The supply curve slopes upward because at a higher price, producers have an incentive to produce more.
Answer: Here go the right answer and I got it right
Explanation:
When the price of chocolate chip cookies increased to $3 per package, Samantha began to buy oatmeal cookies instead. This situation is an example of the substitution effect.
The supply curve slopes upward because at a higher price, producers have an incentive to produce more.
The price of shirts declines dramatically. Javier now feels richer and buys more shirts than he normally would. This situation is an example of the
income effect.
I know this is impossible but can you guys help? Doesn’t have to use fancy words and doesn’t have to be long, I’m not English native speaker but I have to
Don’t use all the words if it’s too difficult
Answers
Answer:
sorry I didn't see your question
Explanation:
very very sorry for my information
How do I quit my job as cashier already wrote resignation letter
Answers
To become a Dentist, you have to take on $400,000 in debt (Student Loans, Living Expenses while in school, etc.). The average Dentist salary is $150,000. If living expenses after school are $90,000 per year, how many years will it take to pay off the $400,000 debt? (Don't account for interest or inflation in this scenario)
Round your answer to the nearest hundredth
Answers
It would take the dentist 6.67 years to repay the student loan of $400,000
How much is left each year after living expenses are deducted from salary?
The amount remaining after living expenses are deducted from the annual salary of $150,000 is $60,000(i.e. $150,000-$90,000) which would be used entirely to repay the student loan of $400,000
The number of years it takes to fully settle the loan or payback period for the loan repayment is determined as the total loan amount divided by the annual loan repayment of $60,000
payback period=$400,000/$60,000
payback period=6.67 years
Note that nearest hundredth means to 2 decimal places
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what steps should be taken in retirement planning? exceed budget amounts for spending. estimate preretirement living expenses. conduct a financial analysis and estimate retirement living expenses. avoid life insurance. all of these are correct.
Answers
Out of the options provided, (b) "estimate preretirement living expenses" and (c) "conduct a financial analysis and estimate retirement living expenses" are important steps that should be taken in retirement planning.
Estimate preretirement living expenses: It is crucial to have a clear understanding of your current expenses and lifestyle before retirement. This involves evaluating your current spending patterns, including housing costs, transportation, healthcare, utilities, food, entertainment, and any other regular expenses. By estimating your preretirement living expenses, you can create a baseline for your retirement budget and determine the income needed to sustain your desired lifestyle.
Conduct a financial analysis and estimate retirement living expenses: A comprehensive financial analysis is essential in retirement planning. It involves assessing your current financial situation, including income, assets, debts, and investments. By evaluating your financial resources, you can estimate the income you can expect during retirement, such as pension benefits, Social Security, or investment returns. Additionally, estimating your retirement living expenses based on your preretirement expenses will help determine if you have sufficient funds to cover your needs and achieve your retirement goals.
On the other hand, "exceed budget amounts for spending" and "avoid life insurance" are not necessarily recommended steps in retirement planning. Exceeding budget amounts for spending can lead to financial instability and jeopardize your retirement savings. It is generally advisable to stick to a well-defined budget and be mindful of your expenses during retirement. Life insurance, while not directly related to retirement planning, can still be beneficial in certain situations, such as providing financial protection for dependents or leaving a legacy. It is important to assess your individual circumstances and consult with a financial advisor to determine if life insurance is appropriate for your needs.
Therefore, the correct options for steps to be taken in retirement planning are to estimate preretirement living expenses and conduct a financial analysis and estimate retirement living expenses.
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-1 1. Which of the following budget terms mean the same thing?
a) surplus and deficit
c) surplus and break-even
b) break-even and balanced d) deficit and balanced
Answers
Answer:
b
Explanation:
none just trust me..............
Contrast the actions a central bank would take to increase the quantity of money in the economy with the actions it would take to produce the opposite effect.
Briefly explain the effects of time lags on monetary policy.
Identify the three government policies for assuring safe and stable banking system
Answers
To increase the quantity of money in the economy, a central bank would typically take expansionary monetary policy measures. This can include actions such as lowering interest rates, buying government bonds or other securities through open market operations..
These actions inject liquidity into the economy, making borrowing cheaper and encouraging spending and investment, thereby increasing the money supply.
On the other hand, to reduce the quantity of money in the economy, a central bank would employ contractionary monetary policy measures. This can involve raising interest rates, selling government bonds or other securities through open market operations, and increasing reserve requirements for commercial banks. These actions decrease the availability of credit, making borrowing more expensive and reducing spending and investment, thereby reducing the money supply.
Time lags in monetary policy refer to the delays between implementing policy actions and their actual effects on the economy. There are three main types of time lags: recognition lag, decision lag, and implementation lag. Recognition lag is the time it takes for policymakers to identify a problem or change in the economy. Decision lag refers to the time it takes for policymakers to formulate and implement a response. Implementation lag is the time it takes for the policy measures to have their full impact on the economy. These time lags can make it challenging for central banks to time their policy actions correctly and achieve the desired economic outcomes.
The three government policies for ensuring a safe and stable banking system are: Deposit Insurance: Governments establish deposit insurance programs to protect depositors' funds in case a bank fails. This policy provides a safety net and maintains public confidence in the banking system. Prudential Regulation: Governments implement prudential regulations that require banks to maintain sufficient capital reserves, follow risk management practices, and adhere to specific standards to ensure the stability and soundness of the banking sector.
Central Bank Oversight: Central banks play a crucial role in monitoring and supervising banks to ensure their compliance with regulations, assess their financial health, and take necessary actions to maintain stability in the banking system. Central banks also act as lenders of last resort, providing liquidity support to banks in times of financial stress.
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The brain's ability to collect basic information about incoming stimuli and prepare it for further interpretation it is called:__________
Answers
Answer:
bottom-up-processibg
Explanation:
which of the following donations will qualify as a deductible charitable contribution? multiple choice question. furniture given to a family whose home burned land donated to a public university cash contributions to a political campaign volunteering at habitat for humanity for four hours
Answers
Cash contributions to nonprofit organisations like Habitat for Humanity or public universities are tax deductible as charitable contributions.
Are charitable contributions tax deductible?Under Section 80G of the Income Tax Act, donations made to specific relief funds and charity organisations may be deducted from income. However, section 80G does not permit deductions for all donations. Only contributions to specified funds are eligible for a deduction.
Which donations qualify for an 80G deduction at 100%?Note: Donations beyond Rs 2,000 that are not eligible for a Section 80G deduction as well as in-kind contributions like food, supplies, clothing, medicines, etc. To qualify under Section, donations over Rs 2,000 must be made in a different way than using cash.
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self-insurance is an acceptable cost-saving strategy for a start-up business. true or false?
Answers
Self-insurance is a viable cost-cutting measure for a startup company. This statement is true.
It depends on the nature of the start-up business and the level of risk associated with its operations. Self-insurance is a risk management strategy in which a company sets aside funds to cover potential losses instead of purchasing insurance from a third-party provider.
Self-insurance may be a feasible cost-saving strategy for some start-up businesses, particularly those with a low level of risk and sufficient financial resources to cover potential losses. However, for start-ups operating in industries with a high level of risk, such as healthcare or aviation, self-insurance may not be a viable option due to the potential for significant financial losses.
In addition, self-insurance can be a complex and potentially risky strategy, as it requires the company to accurately assess its potential risks and set aside sufficient funds to cover potential losses.
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What are 3 reasons for having a checking account?
Answers
The major reason for having the checking account are financial safety, easy access to your funds, savings from check-cashing fees, and overall financial peace of mind.
Checking account:
In accounting, checking account is the type of bank account that allows you to easily deposit and withdraw money for daily transactions.
Given,
Here we need to find the 3 reasons for having a checking account.
Based on the given definition we know that the checking account is the that is perfectly suitable for the daily transactions actions.
Therefore, the reason behind the usage of checking account is listed as,
=> helps you manage your day-to-day finances, such as paying your bills,
=> receiving direct deposit of your paycheck, and
=> withdrawing cash from an ATM.
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The typical person has the time and financial resources for how many children?
3–4
0–1
1–2
Answers
Answer:
1 to 2
Explanation: children are EXPENSIVE and it depends on what you think is the right time/money so it could be wrong
what is cost of living comparison calculator
Answers
These calculator costs are adjusted based on annual income and household size.
You can use this calculator to compare the cost of living in different locations. To do this, first calculate the average cost of living based on where you are now and where you would like to be. Then you can compare the two items. Smaller is cheaper in this comparison! Bigger boxes aren't always cheaper, especially when smaller ones are sold.
Just add up all your fixed monthly expenses like rent and mortgage payments and all your variable expenses like groceries and gas bills. Also consider occasional but expected purchases. B. New tires. Assuming no monthly debt, the resulting amount will be your living expenses.
for example: Consumers can compare vehicle costs to find the most competitive options based on their needs. When purchasing office equipment such as computers and printers, business owners can compare costs and get quality products at fair prices.
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Suppose that, before filing for bankruptcy, Stephen had been involved in an automobile accident. The attending officers determined that Stephen's blood-alcohol level was above the legal limit. An injured passenger in the other car sued Stephen and won a settlement. Further suppose that Stephen, as part of his Chapter 13 bankruptcy, attempted to discharge the car-accident settlement in addition to attempting to discharge his obligation for his children's college expenses. Would he be successful?
Answers
Answer:
No, because in bankruptcy repayment plans, certain debts are not dischargeable, including those related to injury or property damage caused while driving drunk.
Explanation:
Dischargeable debts are defined as amounts owed that can be wiped out by one's bankruptcy discharge.
Once the bankruptcy discharge is issued, creditors in such cases can no longer collect on the debts
An example of dischargeable debts is credit card debt and medical bills
In this scenario however where Stephen had been involved in an automobile accident and attending officers determined that Stephen's blood-alcohol level was above the legal limit.
Any debt in relation to the injured party cannot be discharged through bankruptcy
. The purpose of the transportation approach for locational analysis is to minimize
a) total costs b) total shipping costs
c) total variable costs
d) total fixed costs
Answers
The purpose of the transportation approach for locational analysis is to minimize total costs. So, the correct option is a) total costs.
This approach is used to determine the optimal location for a facility by considering transportation costs and distances between potential locations and the facility's customers or suppliers. By minimizing total costs, a company can improve its competitiveness and profitability.
The transportation approach involves using linear programming techniques to optimize the allocation of goods between different locations. This technique considers factors such as shipping costs, transportation times, and inventory carrying costs to determine the most efficient way to move goods from one location to another.
By minimizing total costs, a company can also reduce its environmental impact by minimizing the distance traveled and the energy required for transportation. This approach can also help to reduce congestion and traffic on the roads, leading to a more sustainable and efficient transportation system.
In summary, the transportation approach for locational analysis is an important tool for businesses to optimize their operations, reduce costs, and improve sustainability.
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what is the correlation between the stage at which an error is found and the comparative cost? select one.
Answers
The earlier an error is found the lesser the cost.
In the incorrect terminology, what does correlation mean?There may be more data in the data than has been used in the current model, according to correlations in the error terms. The correlation is known as autocorrelation when the observations are naturally ordered in a sequential fashion. Numerous factors can cause autocorrelation.
Describe the correlated model of variance.The variance model that we'll discuss today is one in which the errors are related to one another. Results within groups had a correlation in the model with random effects. Additionally, associated results from other regression applications exist (i.e. errors). Time series data, a typical model for financial applications, provides frequent examples of this type of inaccuracy.
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A manufacturing company hires only welders who have completed a formal
program that combines classroom instruction with on-the-job learning. What is the
welders' preparation an example of?
XO A. Performance management
B. Employee development
C. An apprenticeship
D. Computer-based training
Answers
Answer: An apprenticeship
Explanation: Pretty sure that other person had a stroke
What are some jobs you can get before 16?
Answers
Answer:
Babysitting.
You can work at a lot of places, normal jobs, you're just required to takes breaks because you're a minor. You really just have to check with businesses in your area and see where you can work.
My friends work at a pizza place in our town, they were all under 16 when they started working there.
Explanation:
What is the present value of a perpetuity of $100 per year if
the first payment will be received one year from now and the
appropriate interest rate is 8% per year?
Answers
Perpetuity: Present value = 1,250.
To calculate the present value of a perpetuity, we can use the formula:
Present Value = Cash Flow / Interest Rate
In this case, the cash flow is 100 per year, and the interest rate is 8% per year.
Present Value =100 / 0.08
Present Value = 1,250
Therefore, the present value of a perpetuity of 100 per year, with the first payment received one year from now and an interest rate of 8% per year, is 1,250.
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Module: Leadership
Briefly describe adam silver's leadership style and link it to
relevant leadership theory.
Answers
Adam Silver's leadership style can be described as transformational, as he emphasizes collaboration, innovation, and a player-centric approach to leading the NBA.
Adam Silver, the Commissioner of the National Basketball Association (NBA), exhibits a leadership style that aligns with the transformational leadership theory. Transformational leaders inspire and motivate their followers by emphasizing collaboration, innovation, and individual development. Silver is known for his inclusive and player-centric approach to leadership, actively engaging with NBA players and listening to their concerns. He has implemented progressive policies such as prioritizing player mental health, supporting social justice initiatives, and embracing technological advancements in the game. By fostering a culture of open communication, collaboration, and continuous improvement, Silver encourages the growth and development of both the NBA as an organization and its players as individuals. His transformational leadership style contributes to the overall success and positive reputation of the NBA under his leadership.
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wich situation would cause the price of a product to fall the most
Answers
the principal of a mortgage loan is the
a. down payment minus the closing costs minus the purchase price
b. purchase price plus the closing costs minus the down payment
c. down payment plus the closing costs plus the down payment
d. purchase price minus the closing costs minus the down payment
Answers
The down payment less the closing charges less the purchase price is the mortgage loan's principle.
What does a mortgage look like in its simplest form?When you enter into a mortgage with a lender, you give the lender the right to seize the property if they are unable to make the loan amount back plus the interest. You might be able to get a mortgage loan that will enable you buy a new house using the worth of the an existing home as security.
Why do individuals use mortgages?Mortgage loans assist people in financing the purchase of real estate by taking a small portion of the property's overall worth as payment. How Do Mortgages Work A mortgage is a loan used to pay for the upkeep of a home, piece of land, or other kinds of rental properties.
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Investors minimize risk by investing money in __________. A. one specific company B. a variety of companies C. newly-formed corporations D. companies that are competitors Please select the best answer from the choices provided A B C D
Answers
Answer: B. a variety of companies
Explanation:
Investors minimize risk by investing money in a variety of companies. The reason for this is to minimize risk. Investing in one specific company isn't ideal because in the case of the company running at a loss, the investor loses all his or her money as well.
On the other hand, when the investor invest in different companies, the risk is minimized. When one company isn't doing well, others will probably be doing well.
Whenever a good trades in a competitive market, the ______ determines the value of the good. A. cost B. supply C. price D. demand ...
Answers
Whenever a good trades in a competitive market, the option D. demand and supply determines the value of the good.
Instead of specific buyers or sellers setting the price, the market's supply and demand make this decision. Every business and customer in a market with perfect competition are price takers. A price-taking customer believes they can buy in any quantity at the going rate without changing it.
No single buyer or supplier can control the market in an environment where there is competition. A market that is totally competitive has many knowledgeable buyers and supplier, no obstacles to entrance, and no potential for monopolies.
The question is incomplete, find the complete question here
Whenever a good trades in a competitive market, the ______ determines the value of the good. A. cost B. supply C. price D. demand and supply
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What can be said about the culture of services?
I. Processes are invisible
II. Processes are well defined
III. More scientific
IV. Not well defined or documented
A. I, II, and III only
B. I, II, and IV only
C. II, III, and IV only
D. All of the above
Answers
In the service culture, processes are invisible and procedures are not well defined or documented. This culture is focused on customer service, to provide the best experience.
Therefore, processes are invisible, that is, the customer is not able to identify internal processes if they are not useful, but they must perceive the service as a mystery where all their needs are promptly met.
In the service culture, this is also not well defined or documented, so as not to create standardization of the service, but a personalized service that meets the needs of each customer individually.
Therefore, in the service culture, the focus is on offering the best experience for the customer, through the creation of value, excellent service and employees capable of satisfying their needs.
The service culture is capable of generating greater competitiveness, customer loyalty and positioning for a company.
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