Assuming a 5-year estimated service life and straight line depreciation, the accounts that would be used to record the disposal of the asset are Gain/loss on sale of an asset, Depreciation expense, Fixed assets and Accumulated depreciation.
Straight line depreciation is a type of depreciation method in which an equal amount of depreciation expense is charged to an asset every year over the asset's useful life. It is the simplest method of calculating depreciation and is commonly used for financial statements.Therefore, when disposing of an asset that has been subjected to straight-line depreciation, the company would use accounts such as Gain/Loss on sale of an asset, Depreciation expense, Fixed assets, and Accumulated depreciation to record the disposal of the asset. This is because the disposal of the asset affects these accounts in different ways, which is why they are used to record the transaction.
Gain/Loss on sale of an asset: This account records the difference between the sales price and the book value of the asset sold.
Depreciation expense: This account records the depreciation expense for the current year.
Fixed assets: This account records the purchase price of the asset.
Accumulated depreciation: This account records the total depreciation expense charged to the asset since its acquisition.
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Happy Trails, Inc. manufactures railway coaches and uses the FIFO method of process costing to record costs. The WorkminusinminusProcess Inventory of the Heating Department on October 1 was 73% complete for materials and 23% complete for conversion costs. On October 31, its ending WorkminusinminusProcess Inventory was 80% complete for materials and 43% complete for conversion costs. This means that for the ending inventory, ________% of the materials and ________% of the conversion costs were added during October.
Answer:
80 % of materials ; 43 % of conversion costs
Explanation:
The FIFO method traces equivalent units for materials and conversion costs for the following categories :
Opening Work in Process unitsUnits started and completedEnding Work in Process unitsSo the units not completed from last months are the first to be completed during the month (hence To finish Opening Work in Process). During the year there are units started and completed (hence Units Started and Completed) and units started that never gets completed (hence Ending Work in Process units).
All these physical units need to be expressed to the percentage of work done on them - equivalent units.
The question is focusing on Number 3 - Ending Work in Process units. So 80 % of materials and 43 % of conversion costs were added during October for these units.
HELP!
Frank Columbo, a police detective, has a gross weekly income of $1,052.00. His earnings
to date for this year are $31,560. How much is deducted from his paycheck each week for
Social Security? How much for Medicare? What is his yearly salary?
Answer:
Social Security tax = $65.22Medicare = $15.25Yearly Salary = $54,704Explanation:
Social Security tax for 2021 is 6.2% on the first $142,800 earned for the year.
Mr. Columbo falls under the limit so will pay the 6.2%.
Social security = 6.2% * 1,052
= $65.22 per week
Medicare is 1.45% with no limits:
= 1.45% * 1,052
= $15.25
Yearly Salary:
= Salary per week * Number of weeks in year
= 1,052 * 52
= $54,704
(Entry for Retirement of Bond; Bond Issue Costs) On January 2, 2016, Prebish Corporation issued $1,500,000 of 10% bonds to yield 11% due December 31, 2025. Interest on the bonds is payable annually each December 31. The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2019, Prebish called $1,000,000 face amount of the bonds and retired them. Instructions a. Determine the price of the Prebish bonds when issued on January 2, 2016. b. Prepare an amortization schedule for 2016-2020 for the bonds. c. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Prebish as a result of retiring the $1,000,000 of bonds on January 2, 2019, and prepare the journal entry to record the retirement. Principal PV: 0.35218 Interest payment PV:5.88923
The price of the Prebish bonds when issued on January 2, 2016 can be determined using the present value (PV) formula. The PV of the principal is $1,500,000 multiplied by the PV factor of 0.35218, which equals $528,270.
The PV of the annual interest payments is calculated by multiplying the annual interest payment of $150,000 (10% of $1,500,000) by the PV factor of 5.88923, resulting in $933,385. Therefore, the price of the bonds when issued is the sum of the PV of the principal and the PV of the interest payments, which equals $1,461,655.
To prepare an amortization schedule for the bonds from 2016 to 2020, you need to calculate the interest expense and the reduction of the carrying value each year. The interest expense is the carrying value at the beginning of the year multiplied by the effective interest rate of 11%. The reduction of the carrying value is the interest expense minus the annual interest payment. You can calculate the carrying value for each year by subtracting the reduction of the carrying value from the previous year's carrying value.
To compute the amount of loss, if any, to be recognized by Prebish as a result of retiring $1,000,000 of bonds on January 2, 2019, you need to compare the carrying value of the retired bonds to the amount paid to retire them. The carrying value of the retired bonds can be calculated by using the amortization schedule. If the carrying value is higher than the amount paid to retire the bonds, there will be a loss recognized. The loss is the difference between the carrying value and the amount paid to retire the bonds.
To record the retirement of the bonds on January 2, 2019, Prebish would debit the Bonds Payable account for the face amount of the retired bonds ($1,000,000) and credit the Loss on Bond Retirement account for the amount of loss recognized. They would also credit the Cash account for the amount paid to retire the bonds.
In conclusion, the price of the Prebish bonds when issued on January 2, 2016 is $1,461,655. The amortization schedule for the bonds from 2016 to 2020 can be prepared by calculating the interest expense and reduction of the carrying value each year. The amount of loss, if any, to be recognized by Prebish as a result of retiring $1,000,000 of bonds on January 2, 2019 can be determined by comparing the carrying value of the retired bonds to the amount paid to retire them. The journal entry to record the retirement would include debiting the Bonds Payable account, crediting the Loss on Bond Retirement account, and crediting the Cash account.
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First part company formed a subsidiary in Germany and capitalized it with 900,000 Euros (€) when the exchange rate was €1 = $1.2. Since its inception the subsidiary has performed well. Below are the most recent financial information (in thousands) on the subsidiary. Other than the calculation for COGS, all debit balances are no parenthesis and all credit balances are with parenthesis in the chart below.Current Rate Method Temporal Method Subsidiary(€) -Translation rate Subsidiary ($) Translation rate -Subsidiary ($) Beginning Inventory 1,490
It seems that the financial information for the subsidiary is missing after "Beginning Inventory 1,490". Without the complete financial information, it is not possible to perform the required calculations for the Current Rate Method or Temporal Method. Can you please provide the complete financial information for the subsidiary?
Suppose that Defenestration decides to pay a dividend of only $2 per share this year and use the remaining $2 per share to repurchase stock. If Defenestration maintains this dividend and total payout rate, then the rate at which Defenestration's dividends and earnings per share are expected to grow is closest to what?
Answer:
Missing word "Defenestration Industries plans to pay a $4.00 dividend this year and you expect that the firm's earnings are on track to grow at 5% per year for the foreseeable future. Defenestration's equity cost of capital is 13%."
P0 = dividend payout per share/ (k-g)
Where g is firms earning growth = 5% or 0.05
And k is the cost of capital = 13% or 0.13
Therefore P0 = $4 / (0.13 -0.05) = $50
But if the payout is $2 per share and $2 per share is used to repurchase stock then to get the price of the stock in one year given the current price of $50.00, dividend at $2 and the 13% cost of capital we get
$50 = $2 + X / (1.13)
Therefore x = $54.5
At a current price of $50, we can expect that Defenestration Industries stock to sell for $54.50 immediately after the firm pays the dividend in one year
Therefore the growth is (54.5 -50)/50 = 9%
As a branch of study economics is said to be central to national planning discuss
Economics teaches you how to think more critically and influence judgments in order to get the best possible conclusion.
Economics has a part in our daily lives. Understanding previous, future, and current models allows us to apply them to society, governments, enterprises, and people.
Economics Assistance gives numerous examples about when economics is used, such as coping with manufactured goods shortages, establishing how prosperity is divided and redistributed throughout society, and evaluating the amount to which the government must engage in the economy utilizing concepts and measurements.
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Which of the following statements regarding ABC product cost information is not true?
a. ABC can be used to determine changes that should be made in classifying costs.
b. ABC can be used to isolate cost improvement opportunities.
c. ABC can be used to simplify the cost allocation process when compared to using one plantwide allocation rate.
d. ABC can be used to help improve operations.
Option c is correct: ABC can be used to simplify the cost allocation process when compared to using one plantwide allocation rate.
Activity-Based Costing (ABC) is a costing method that provides more accurate and detailed cost information by allocating indirect costs to products or services based on their actual consumption of activities.
ABC helps in identifying cost drivers and understanding the relationship between activities and costs. The given statement suggests that ABC can simplify the cost allocation process compared to using a single plantwide allocation rate, which is not true.
In fact, ABC can be more complex and time-consuming compared to traditional costing methods. However, the other statements (a, b, d) are true. ABC can be used to determine cost classification changes, isolate cost improvement opportunities, and help improve operations by providing more accurate cost information for decision-making.
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Productivity is an important goal for Clearwater Electronics. Like most productive organizations, Clearwater recognizes the contributions human resource management (HRM) can make to improve productivity through people. How can HRM best ensure that the work environment at Clearwater is one in which employees are productive and add value?
Answer:
HR managers can contribute by providing work organization and design that allow for an increase of output as well as quality
Explanation:
if i get 16 brainlest ill give u guys 136 points
Answer:
you get brainlyist by answering questions. not making them
Answer:
ill give u brainlest tete
Explanation:
1. Waves are created when a source of energy causes a _____.
Answer:
Waves are created when a source of energy causes a medium to vibrate. A vibration is a repeated back-and-forth or up-and-down motion. This motion is the source of the wave. Waves are classified according to how they move.
Explanation:
question content area part 1 scarcity part 2 a. can be overcome by discovering new resources. b. stems from the incompatibility between limited resources and unlimited wants. c. is a bigger problem in market economies than in socialist economies. d. can be eliminated by rationing products.
Scarcity stems from the incompatibility between limited resources and unlimited wants
Because the desires of economic agents, such as people, businesses, or the government, are limitless, scarcity is a fundamental economic problem that affects every civilization. The incompatibility of finite resources and countless wants is the root of the world's economic problems.
Resources are constrained in that there is only a certain amount of them, and they cannot be expanded to satisfy everyone's unending needs or those of society as a whole. People and society must therefore decide how to divide up these finite resources in order to best satisfy their needs and wants. All economic activity is fueled by scarcity, which is the reason people have to make decisions and trade-offs.
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what is the difference between features and benefits
Answer:
Features are what something features so for example, if you purchased an item, on the box it might say what is featured inside it (what the items are in the box) on a list, benefits would be the positive impact of having the product
Select the correct answer.
In a job Interview, what would be the most appropriate way to respond to the question, "How would you avoid a major crisis at work?
A. Explain that you believe you'll never face a crisis at work.
В. Talk about how you solved a similar work problem in the past.
C. State that you can handle any type of crisis that might arise at work.
D. Suggest that you would delegate the responsibility to someone else.
Answer: B
Explanation:
It shows that ur responsible enough to handle a crisis and that u have experince
Under ERISA, what communications requirement must you follow in relation to employees' benefits and compensation programs?
Under the Employee Retirement Income Security Act (ERISA), employers must follow specific communication requirements to ensure that employees are well-informed about their benefits and compensation programs. These requirements include providing a Summary Plan Description (SPD), a Summary of Material Modifications (SMM), and an annual report.
The SPD is a comprehensive document that outlines the key features of the benefits and compensation plan, such as eligibility criteria, enrollment procedures, and plan benefits. Employers must provide the SPD to employees within 90 days of plan participation, and it should be updated and redistributed if any significant changes occur.
The SMM is a concise summary that highlights any substantial changes made to the plan, such as modifications to benefits or plan provisions. Employers must distribute the SMM to plan participants within 210 days after the end of the plan year in which the change occurred.
Lastly, employers are required to submit an annual report (Form 5500) to the Department of Labor, which provides an overview of the plan's financial status and performance. This report must be made available to plan participants upon request.
In conclusion, ERISA mandates that employers maintain transparent communication about employees' benefits and compensation programs through the provision of the SPD, SMM, and annual reports. These requirements ensure that employees have a clear understanding of their benefits and any changes that may impact their entitlements.
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why is it important to be a good communicator for a successful future?
Answer:
Explanation:
Being an excellent communicator can help you land that first job in your new career and ensure a positive future. It can separate you from other applicants, help you be a more effective employee and serve as a stepping stone to leadership responsibilities and career advancement.
What is from utility
Explanation:
Refers to how well a product or service meets the customer's needs
If the economy is operating at point c, the opportunity cost of producing an additional 15 units of bacon is.
If the economy is operating at point c, the opportunity cost of producing an additional 15 units of meat is 20 units of eggs.
Opportunity cost is a theory that arises from scarcity, as well as unlimited human needs and wants. Therefore, opportunity costs usually occur when humans are faced with two or more choices.
In addition, it is important to understand the concept of opportunity cost because there are several reasons as follows.
Sharpen decision-making skillsIt's wiser to accept the riskForming more positive thoughtsHelp plan a better futureExamples of Opportunity Costs in Daily Life
For example, a person only has 15 dollars. However, he was faced with a choice, namely, to buy fried chicken rice or a boba drink. He can only choose one of the two menus because the money he has is limited. In the end, he chose to buy a boba drink, so he missed the opportunity to eat fried chicken rice.
The picture above is the concept of applying opportunity cost in everyday life. Essentially, any of these opportunity costs must be profitable.
When viewed in terms of cost, the choice of the lowest load or the lowest cost will be an alternative cost. Meanwhile, when viewed in terms of production, choose which sector is able to produce more products than others.
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what is the interest rate charged per period multiplied by the number of periods per year called?
How is being comfortable with risk and flexibility important to having an entrepreneurial mindset?
An entrepreneurial mindset is a set of skills that enable people to identify and make the most of opportunities, overcome and learn from setbacks, and succeed in a variety of settings. This means that being too stubborn and unyielding in your approach can be a recipe for stress and potential business disaster. Being flexible as an entrepreneur can provide you with an important competitive edge. It helps you to exploit opportunities as and when they arise. Successful entrepreneurs stick to the basic principles of risk management: They look for opportunities where if they fall short they lose only a certain value, but if they win they could stand to gain 10 times as much. And the best entrepreneurs never bet more than they can afford to lose. They always consider Plan B (as well as Plan C, D and E) in case the current program doesn’t work out as expected.
Hope that this gives some insight on the topic :)
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
How many people work as box office managers?
Answer:
hmmm like in the world?
Explanation:
Answer: a valid amount of people
Explanation:
How might specialization lead to comparative advantage for Joanne's bakery?
Answer:
Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. A comparative advantage gives a company the ability to sell goods and services at a lower price than its competitors and realize stronger sales margins.
Explanation:
The law of comparative advantage is popularly attributed to English political economist David Ricardo and his book “On the Principles of Political Economy and Taxation” written in 1817, although it is likely that Ricardo's mentor, James Mill, originated the analysis.
For a business like Joanne's bakery, specialization in the process of baking and cooking will attract more customers, and thus will also lead to a comparative advantage.
What is the significance of comparative advantage?Comparative advantage can be referred to or considered as a situation wherein a business operating in a market holds an advantageous position in the economy while selling similar products, but with a different technique in operations and functioning.
Specialization is an important determinant in leading to a comparative advantage, mainly because a producer who brings different techniques for the production of goods and services gets a competitive edge over other bakers in the market.
Therefore, the significance regarding comparative advantage has been aforementioned.
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what is the name of the microscopic filtering units inside the kidney?
Nephrons are the word for the tiny filtering components found inside the kidney. The functional units of the kidney are called nephrons.
And they are in charge of creating urine, filtering waste materials and extra fluid from the circulation, and controlling the concentration of different substances in the body. Approximately one million nephrons make up each kidney. Each nephron is made up of the glomerulus, which filters the fluid, and the tubule, which transports the filtered fluid and creates urine. The body's water, electrolyte, and other substance balance is maintained by the nephrons, which are also vital for controlling blood pressure, pH, and the concentration of different molecules.
Blood pressure is the force that the moving blood applies to the blood vessel walls. Systolic and diastolic blood pressure are commonly given as two figures and are expressed in millimetres of mercury (mmHg). When the heart beats and pumps blood out, the blood pressure in the arteries is said to be systolic. When the heart is relaxed and filled with blood, it is said to be diastolic.
An essential physiological measure, blood pressure is controlled by the body's neurological and endocrine systems. Both ensuring sufficient blood flow to the organs and tissues and avoiding blood vessel injury are essential.
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Sid Maxwell is the head of legal affairs at Hudson Inc., an American toy manufacturer. A. Hudson's signature toy, the Witty Parakeet, includes an embedded software program that allows the bird to interact with children. B. Hudson is currently planning to expand its market in Asia but Sid is concerned about reports of software piracy in the region.
Answer:
trade secret
Explanation:
THIS IS THE COMPLETE QUESTION BELOW
Sid Maxwell is the head of legal affairs at Hudson Inc., an American toy manufacturer. Hudson's signature toy, the Witty Parakeet, includes an embedded software program that allows the bird to interact with children. Hudson is currently planning to expand its market in Asia but Sid is concerned about reports of software piracy in the region.
The software program embedded in Hudson's signature toy, the Witty Parakeet, is an example of a(n) ________.
Trade secret can be regarded as one of the intellectual property which is a process/ practice such as design, patterns or instrument that is generally not revealed outside the company. It gives a company an edge over her compititors
Explain the statement below using at least 5 complete sentences. Punctuation, spelling, and grammar will be considered in the scoring of your response. "Just because you're good at something doesn't make it a strength!!"
Explanation:
The statement highlights the fact an activity we may consider ourselves good at may not necessarily strengthen us mentally.
Hence, it emphasizes the need for self-evaluation of the needs we are good at to see whether actually makes us happy.
For example, someone who is good at telling nice stories and yet discovers when they are involved in that activity they aren't happy.
This scenario rightly dipicts why one's strength is not determined by what they are good.
Therefore, we can say indeed, "Just because you're good at something doesn't make it a strength!!".
What is the nine business blocks
Answer:
The nine business blocks are; customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
Explanation:
These business blocks are part of a business model, which is something that many new entrepreneurs use as part of a design detailing how a business can function and operate successfully, especially when depending on the environment their businesses are set in. Within business models, there are four central parts that relate to; customers, offering, infrastructure, and financial viability. With that comes nine key blocks that describe it, and those nine building blocks (which are stated in the answer section above) all relate to the four central parts of the business model.
Sources:
https://opentextbc.ca/organizationalbehavioropenstax/chapter/business-model-canvas/https://medium.com/the-second-act/the-9-building-blocks-of-your-business-model-e9cdfe996ff5In class, Marcus is skilled at picking up main ideas and important details from his teachers' lectures. What is this called?
Answer:
This would observation, which is something most readers should be able to do
Explanation:
what is networking why is useful when looking for a job
Answer:
Career networking involves using personal, professional, academic or familial contacts to assist with a job search, achieve career goals, learn more about your field, or another field you'd like to work in. Networking can be a good way to hear about job opportunities or get in at a company you'd like to work with.
Explanation:
Make a list of at least 5 business ideas that interest you. Then explain which one you think is the best opportunity for you. Give at least 3 reasons why this opportunity is better for you than the others.Make a list of at least 5 business ideas that interest you. Then explain which one you think is the best opportunity for you. Give at least 3 reasons why this opportunity is better for you than the others in a Business
The five business idea is:
Reusable productTours & TravelsEducation programRestaurant Street food.The main tours and the travel are the biggest opportunity.
What is business?
The term “business” refers to earning a profit. The business is taking the risk and earning the profit. The business is mainly focused on the activities of the creation, distribution, and selling of concepts.
According to the management theory, the five basic and the interesting idea on the business are:
Reusable productTours & TravelsEducation programRestaurant Street food.The tours and the travel and the street food business was the biggest opportunity. The both the business are the profit is high and the not to the interference to the other.
As a result, the significance of the business are the aforementioned.
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An investor bought a property 3 years ago for 500,000 of which 20% was cost of land. the building is depreciated on a straight-line basis over 20 years. the investor borrowed 350,000 at 12% p.a. payable monthly for 19 years. the property can be sold today for 800,000. the loan outstanding today is 280,000. the capital gain tax on price appreciation is 20% and 25% on depreciation recapture. calculate the after-tax cash flow from the sale of the property
The after-tax cash flow from the sale of the property is $445,000.
To calculate the after-tax cash flow from the sale of the property, we need to consider several factors.
Loan Outstanding: The investor borrowed $350,000 at 12% p.a., payable monthly for 19 years. The outstanding loan today is $280,000.
Selling Price: The property can be sold today for $800,000.
Capital Gain: The investor bought the property for $500,000. The capital gain is the difference between the selling price and the initial cost, which is $800,000 - $500,000 = $300,000.
Cost of Land: The cost of land was 20% of the initial purchase price, which is 20% of $500,000 = $100,000. This amount is not depreciable.
Depreciation: The building is depreciated on a straight-line basis over 20 years. The annual depreciation expense is the depreciable cost divided by the useful life, which is ($500,000 - $100,000) / 20 = $20,000 per year. Over three years, the total accumulated depreciation is $20,000/year x 3 years = $60,000.
Depreciation Recapture: The depreciation recapture is taxed at a rate of 25%. The recaptured amount is $60,000 x 25% = $15,000.
Capital Gain Tax: The capital gain on price appreciation is taxed at a rate of 20%. The taxable amount is $300,000 x 20% = $60,000.
Now, let's calculate the after-tax cash flow:
Selling Price: $800,000
Outstanding Loan: $280,000
Loan Payoff: $800,000 - $280,000 = $520,000
Capital Gain Tax: $60,000 (on price appreciation) + $15,000 (depreciation recapture) = $75,000
After-tax Cash Flow: $520,000 - $75,000 = $445,000
Therefore, the after-tax cash flow from the sale of the property is $445,000.
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