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2 years ago

Great Adventures Problem

Business

1 answer:

andrew11 [14]2 years ago

3 0

Answer and Explanation:

The Journal entry is shown below:-

Amount should be capitalized for new vehicle = Cost + Painting and new logo cost + Deluxe Roof rack and trailer hitch

= $15,600 + $6,600 + $2,900

= $25,100

We took the cost of painting and deluxe roof and trailer hitch costs into account as they are supposed to increase the vehicle's future benefits.

Depreciation = (Cost - Salvage Value) ÷ Number of Years

= ($25,100 - $6,300) ÷ 5

= $3,760 per year

In the year 2022 vehicle is used only for 6 months (July to Dec), depreciation expense for the year ended December 31, 2022 is

= $3,760 × 6 ÷ 12

= $1,880

So, the Journal entry is

Depreciation expense Dr, $1,880

To Accumulated Depreciation $1,880

(Being depreciation provided for the year 2022 is recorded)

Therefore for recording the depreciation provided for the year 2022 we simply debited the depreciation expenses while we credited the accumulated depreciation.

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Business solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. the $159

xeze [42]

Answer:

Business Solutions

Second-quarter 2018

Fixed Budget Performance Report

Budgeted Actual

Variable expenses for desks $104,720 $104,720*

Variable expenses for chairs, $20,800 $20,800*

Fixed expenses $34,000 $35,800

Total Expenses $159,520 $ 156,320

*Suppose the actual variable expenses are the same as budgeted variable expenses.

Explanation:

The variable expenses depend on the number of units of chairs and desks produced where as the fixed expenses remain constant irrespective of the no of units of production.

Variable expenses are those expenses that vary directly with the number of units produced ( example more desks and more chairs will require more material).

4 0

2 years ago

In terms of the Job Characteristics Model, feedback refers to the extent to which _____.

Bond [772]

Answer:

(E). A person receives clear information about performance effectiveness from the work itself.

Explanation:

According to the Job characteristics model, an employee gets motivation from the job itself, and there are five characteristics that improve an employee's performance on the job. One of these characteristics is "feedback".

The model defines feedback as the extent to which an employee receives information about how effective his or her job performance has been.

8 0

2 years ago

The Flores Family loves to go sailing on the weekends. Mr. Flores has decided to purchase a more spacious sailboat. The sailboat

zavuch27 [327]

Answer:

$367.86

Explanation:

To calculate this, we use the formula for calculating future value annuity (FVA) due as follows:

FV = M × {[(1 + r)^n - 1] ÷ r} × (1 + r) ................................. (1)

Where,

FV = Future value of an annuity or the cost of sailboat = $20,000

M = Amount of each annuity or to deposit monthly = ?

r = Monthly interest rate = 0.06 ÷ 12 = 0.005

n = number of months = 4 years × 12 = 48

Substituting the values into equation (1), we have:

20,000 = M × {[(1 + 0.005)^48 - 1] ÷ 0.005} × (1 + 0.005)

20,000 = M × 54.3683213801713

Making M the subject of the formula and solve, we have:

M = 20,000 ÷ 54.3683213801713 = $367.86

Therefore, Mr. Flores should deposit $367.86 in this account at the beginning of each month to be able to pay cash for the sailboat in 4 years.

8 0

2 years ago

You have $12,500 you want to invest for the next 30 years. You are offered an investment plan that will pay you 7 percent per ye

Alchen [17]

Answer:

Future value= $151,018.51

Explanation:

Future value of money measures how much a present amount of money will be in the future at a given interest rate.

The interest gained on money shows the time value of money. One dollar today is less than one dollar in one year's time

The formula for future value is

Future value = Present value * (1 + rate)^time

As we have two periods in this case (10 years and 20 years)

Future value = Present value * {(1 + rate1)^time1} * {(1 + rate2)^time2}

Future value = 12,500 * {(1 + 0.07)^10} * {(1 + 0.095)^20}

Future value= $151,018.51

4 0

2 years ago

A toy manufacturer makes its own wind-up motors, which are then put into its toys. While the toy manufacturing process is contin

Shalnov [3]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

4 0

2 years ago