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elixir [45]
2 years ago
7

At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $13.5 million. $10.5 million of the purchase price

was allocated to the building. Depreciation for 2019 and 2020 was calculated using the straight-line method, a 25-year useful life, and a $2.5 million residual value. In 2021, the estimates of useful life and residual value were changed to 20 total years and $650,000, respectively. What is depreciation on the building for 2021
Business
1 answer:
sdas [7]2 years ago
3 0

Answer:

$511,667

Explanation:

The computation of the depreciation expense for 2019 and 2020 is shown below:

= (Purchase price - residual value) ÷ (useful life)

= ($10,500,000 - $2,500,000) ÷ (25 years)

= ($8,000,000) ÷ (25 years)  

= $320,000

The depreciation in this method is the same for the rest of the useful life

Now the book value for 2021 would be

= Purchase price - depreciation for 2 years

= $10,500,000 - $320,000 × 2

= $9,860,000

Now the depreciation for 2021 would be

= ($9,860,000 - $650,000) ÷ 18 years

= $511,667

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John, a line supervisor, has decided to increase Kerry's responsibilities by delegating more work to her station. what is the fi
melomori [17]
<h2>Clarify the assignment would be the first step john should take to increase Kerry's responsibilities.</h2>

Explanation:

Option A: If a new work is assigned or an additional work is assigned, it is necessary to first explain about the new responsibility and clarify about the assignment. This would ensure Kerry to continue the work smoothly.

Option B: Feedback is always welcome but this is not the first step to add responsibilities.

Option C: Notifying others is the responsibility of John and not Kerry. So this choice is invalid.

Option D: Accountability though it is mandatory comes only in the closure part.

7 0
2 years ago
Gerard has been offered a 4% interest rate on a $300,000 mortgage. His monthly mortgage payment would run about $950 per month.
AleksandrR [38]

Answer:

Down payment

Explanation:

Down payment is a initial cash outlay at the time of purchasing any capital intensive item (house, machinery, vehicles etc.) through lease or mortgage.

Down payment reduces the total amount of external financing required (Company financing the purchase) thus the down payment reduces the periodic installment and interest rate charge on the financing.

3 0
2 years ago
Suppose the price of a bag of frozen chicken nuggets decreases from $6.50 to $5.75 and, as a result, the quantity of bags demand
insens350 [35]

Answer:

17

Explanation:

I believe this, but I don't really know. Sorry.

6 0
2 years ago
Dumphy and Funke are rival tattoo artists in the small town of Feline. There are no other tattoo artists in town. It costs $30 t
inysia [295]

Answer:

<u>Part a:  What will be the equilabrium price that Dumphy and Funke will charge?</u>

Answer: Price charged = $30

<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>

Answer: Profit on equilibrium price = $0

<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>

Answer: Price competition

Explanation:

<u>Part a:  What will be the equilabrium price that Dumphy and Funke will charge?</u>

Answer:

Price charged by each of the artists will be equal to their marginal cost.

Thus, equilibrium P = MC = $30.

<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>

Answer:

Equilibrium profits will be 0 at the equilibrium because price charged is equal to MC, leading to no profits.

<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>

Answer:

Price competition - as changes in price will lead to changes in demand and thus sales

5 0
2 years ago
Hill Corp. began production of a new product. During the first calendar year, 1,000 units of the product were sold for $1,200 pe
Tcecarenko [31]

Answer:

$88,000

Explanation:

(1,000 units × $100 estimated warranty cost per unit) $100,000

Therefore:

($100,000 - $12,000 actual warranty costs incurred during the first year) $88,000

Liability for warranty costs is recognized when the related revenue is recognized. In a situation were the warranty covers a period longer than the period in which the product is sold, the entire liability for the expected warranty costs must be recognized on the day the product is actually sold.

Therefore in the first calendar year a warranty liability of $100,000 (1,000 units × $100 estimated warranty cost per unit) was recognized. Actual payments for warranty costs reduce the amount of warranty liability recognized. Thus, at the end of the first calendar year, the balance of the warranty liability is $88,000 ($100,000 warranty liability initially recognized - $12,000 actual warranty costs incurred during the first year).

8 0
2 years ago
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