The following information is available on a depreciable asset owned by Mutual Savings Bank:___________.
Purchase date July 1, Year 1
Purchase price $78,100
Salvage value $10,900
Useful life 8 years
Depreciation method straight-line
The asset's book value is $61,300 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $5,900 rather than the original estimate of $10,900. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:_________.
a. $4,616.67
b. $2,554.17
c. $2,308.33
d. $1,854.17
e. $2,241.37
A total asset turnover ratio of 3.0 indicates that:
For every $1 in sales, the firm acquired $3.0 in assets during the period.
For every $1 in assets, the firm produced $3.0 in net sales during the period.
For every $1 in assets, the firm earned gross profit of $3.0 during the period.
For every $1 in assets, the firm earned $3.0 in net income.
For every $1 in assets, the firm paid $3.0 in expenses during the period.

Answers

Answer 1

Answer and Explanation:

The computation of the depreciation expense under the straight-line method is shown below:

= (Purchase cost - residual value) ÷ (Remaining life left)

= ($61,300 - $5,900) ÷ ( 8 - 2)

= $55,400 ÷ 6 years

= $9,233.33

Now for the six months it would be

= $9,233.33 × 6 months ÷ 12 months

= $4,616.67

The asset turnover is the turnover that comes by dividing the revenue from the average of the total assets

Here as per the given option the second option is correct as it correctly represents the asset turnover


Related Questions

How much will $6000 be worth if it is invested at 3.5% interest for 20 years compounded annually, semi-annually, quarterly, monthly, weekly, daily?

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment= $6,000

To calculate the future value, we need to use the following formula:

FV= PV*(1+i)^n

Compounded annually:

n= 20

i= 0.035

FV= 6,000*1.035^20

FV= $11,938.73

Compounded semi-annually:

n=20*2= 40

i= 0.035/2= 0.0175

FV= 6,000*(1.0175^40)

FV= $12,009.58

Compounded quarterly:

n= 20*4= 80

i= 0.035/4= 0.00875

FV= 6,000*(1.00875^80)

FV= $12,045.78

Compounded monthly:

n= 20*12= 240

i= 0.035/12= 0.00292

FV= 6,000*(1.00292^240)

FV= $12,079.84

Compounded weekly:

n= 20*52= 1,040

i= 0.035/52= 0.000673

FV= 6,000*(1.000673^1,040)

FV= $12,078.71

Compounded daily:

n= 20*365= 7,300

i= 0.035/365= 0.000096

FV= 6,000*(1.000096^7,300)

FV= $12,091.78

Answer:

P = $6000

i = 3.5% = 0.035

n =20

Future value = P*(1+i/m)^nm

If compounded annually = 6,000*(1+0.035) ^20 = 6,000*(1.035)^20 =  6,000*1.9898 = $11938.80

If compounded semi-annually = 6,000*(1+0.035/2)^20*2 = 6,000*(1+0.0175)^40 = 6,000*(1.0175)^40 = 6,000*2.00159734319 = $12009.58405914 = $12009.58

If compounded quarterly = 6,000*(1+0.035/4)^20*4 = 6,000*(1+0.00875)^80 = 6,000*(1.00875)^80 = 6,000* 2.00763065501 = $12045.78393006 = $12045.78

If compounded monthly = 6,000*(1+0.035/12)^20*12 = 6,000*(1+0.0029167)^240 = 6,000*(1.0029167)^240 = 6,000 * 2.01171808178 = $12070.30849068 = $12070.31

If compounded weekly = 6,000*(1+0.035/52)^20*52 = 6,000*(1.00067307692)^1040 = 6,000 * 2.01327857595 = $12079.6714557 = $12079.67

If compounded daily = 6,000*(1+0.035/365)^20*365 = 6,000*(1.00009589041)^7300 = 6,000*2.01368511398 = $12082.11068388 = $12082.11

Technician A says that after an accident you should take measures to avoid it in the future. Technician B
says that it is OK to block an exit for a shop. Who is correct?
Select one:
a. Technician A
b. Technician B
c. Both A and B
d. Neither A nor B

Answers

Answer:

a. Technician A

which two features of quickbooks online advanced are not available to quickbooks online plus clients

Answers

Answer:

the techniques and the earth

Explanation:

so basically those techniques help you

Answer:

unlimited accounts and Classes, Advanced import and batch entry

Explanation: These two features are not available in Quickbooks Plus, but they are vailable in Quickbook Advaced.

Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,100 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $4,550. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,025. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021?a. $0 LTCL and $4,850 basis.b. $560 LTCL and $4,290 basis.c. $840 LTCL and $4,010 basis.d. $1,120 LTCL and $3,730 basis.e. $1,400 LTCL and $3,450 basis.

Answers

Answer:

LTCL = $0

Basis = $3,575

Explanation:

January 15, 2018, buy 1,000 shares at $5,100

December 31, 2020, sold 1,000 shares at $4,550

If Ms. Fresh hadn't repurchased the stock in January, she could have reported a long term capital loss of $550. But since she repurchased the 1,000 shares just after selling them, it is considered a wash sale.

So no long term capital loss will be recognized and the basis of the 1,000 stocks = $3,025 + $550 = $3,575

In the market for beef, the price of a pound of beef falls Explain the effect of this event on the quantity of beef supplied and on the supply of beef:______. A. The quantity of beef supplied decreases and the supply of beef also decreases B. The quantity of beef supplied increases and the supply of beef also increases C. The supply of beef decreases and the quantity of beef supplied is unchanged. D. The supply of beef is unchanged and the quantity of beef supplied increases. E. The quantity of beef supplied decreases and the supply of beef is unchanged.

Answers

Answer:

E. The quantity of beef supplied decreases and the supply of beef is unchanged.

Explanation:

In the market for beef, the price of a pound of beef falls. The effect is "the quantity of beef supplied decreases and the supply of beef is unchanged. The reason is that any price change of the product will not shift the demand or supply but changes the quantity supplied.

Audience:

Your audience is the bank's loan manager.

Situation:

You have invented a new product and decided to start a business manufacturing your invention. You have chosen a sole proprietorship as the best choice of business ownership. The problem is in order to get your business "off the ground" you will need a capital investment. So you have decided to approach your local bank for a loan. The bank's loan manager is considering financing your business and has agreed to listen to a presentation about your business plan. The loan manager has asked you to address some of her concerns in the presentation.

Product:

Create a persuasive presentation that addresses the bank's loan manager's concerns.

Standards for Success:

Your presentation to the loan manager must include:

Rationale behind choosing a sole proprietorship instead of a partnership or corporation as the form of business ownership.
A detailed description of the target market for your product.
A detailed description of your business's marketing mix.
Identification and explanation of the customer buying motive for your product.
An explanation of how your business will be socially responsible to the local community.

Answers

Answer:

E=mc2

Explanation:

With the real money supply held constant, the theory of liquidity preference implies that a higher income level will be consistent with:________.

Answers

Answer:

a higher interest rate

Explanation:

In the case when there is a supply of real money and it becomes constant so here the liquidity preference theory denotes that if there is a level of the higher income so it would be consistent with the interest rate i.e. higher

The liquidity preference theory means the theory where the investor demand the rate of interest i.e. higher that has long term maturities with high risk

So as per the given situation, the higher interest rate is the answer

whats a good job for me A. nail artist B.GameDev C. Aesthetic photography D.Anime Actor idc They all sound good​

Answers

Answer:

C. Aesthetic photography

Explanation:

Answer: it really depends on what you're good at !!

Explanation: seeing all the jobs you listed here, if you look more into the requirements and the education that is needed, see which one is either easier or what you're good in in that field, and go for that !!

i think that either a nail artist or an aesthetic photographer would be good for you :)

A customer has $20,000 in passive losses from a limited partnership investment. If the customer has $20,000 of passive income for that tax year, the customer may deduct:___________.

Answers

Answer:

Customer deduction = $20

Explanation:

Given:

Passive loss = $20,000

Passive income = $20,000

Find:

Customer deduction

Computation:

Customer deduction = Passive loss - Passive income

Customer deduction = $20,000 - $20,000

Customer deduction = $0

Which action would a bank most likely take when deciding whether a person
should be approved for a loan?

A. Forcing the person to shut down all other bank accounts

B. Checking bank statements to see how much money the person
has saved

C. Investigating the person's grades in high school and college

D. Requiring the person to take a written test about financial
concepts

Answers

Answer: checking bank statements to see how much money the person saved

Checking bank statements to see how much money the person has hold on is the  activity would a bank most likely take when settling whether a person should be sanctioned for a loan.

How are loans sanctioned?

The financial institution will examine the application after receiving all of the relevant information and papers. Complete information is examined, from the current residence address to the CIBIL score.

The loan amount is sanctioned once the bank has verified all of the details.

Thus, option B is correct.

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which of the following is true of heirarchical clustering​

Answers

Answer:

*See Explanation*

Explanation:

Heirarchical Clustering is a form of collective data. For example if you want to find out which Soda sells more you would collect data based on reviews from customers of each purchase. Your data will be collected in a cluster which you will then organize into a valuable marketing strategy.

enthnocentrism as a barrier in cross-cultural communication


Answers

The third barrier to effective intercultural communication is ethnocentrism, or negatively judging aspects of another culture by the standards of one's own culture. To be ethnocentric is to believe in the superiority of one's own culture.

Two siblings each pay 30% of their parents support so they can decide who will claim the parents with a multiple support agreemont
Choose one answer a True
b. False

Answers

B: false
Hope this helps you

If coal mine tonnage can be shipped elsewhere cheaply, but a coal-fired power plant adjacent to the mining operation is not redeployable to other uses, what organizational form would be adopted by the power plant owners?

Answers

Answer:

vertical integration

Explanation:

The plant owners would have to adopt a vertically integrated organization because the plant is not redeployable to other uses and is dependent on the supply chain/complementary assets. Vertical integration occurs when an organization owns and controls it's distribution or supply chain in order to maximise profits and reduce costs or inefficiency. By controlling the supply chain, the chain of distribution of the coal mine tonnage can be improved in terms of efficiency and value in revenue.

Consider the following hypothetical data for 2012 and 2013:______. 2012 2013Money supply 2,000 2,100Velocity 5 5Real GDP 15,000 15,000The price levels for 2012 and 2013 are:Instructions: Enter your responses rounded to two decimal places.2012: ____2013: _____Instruction: Enter your response as a whole number.Rate of inflation between 2012 and 2013: _____%.

Answers

Answer:

Rate of inflation between 2012 and 2013 = 4.48%

Explanation:

Real GDP is the quantity of commodities produced in a specified year. Here real GDP is 15,000 in both 2012 and year 2013. Total money supply is the actual money supply multiplied by the velocity of money. So effective money supply is:

Money supply of the year 2012 = 2000 * 5 = 10,000

Money supply of the year 2013 = 2100 * 5 = 10,500

Price level is calculated by dividing money supply by real GDP.

Price level of the year 2012 = 10,000/15,000 = $0.67

Price level of the year 2013 = 10,500/15,000 = $0.7

Rate of inflation is the price rise in 2013. It is:

Rate of inflation between 2012 and 2013 = 0.7 - 0.67 / 0.67 = 0.0447761 = 4.48%

A contestant asks for 200,000 for 25% of their business, what value have they placed on their entire company?

Answers

Answer:

$800,000

Explanation:

25% of the business is equal to 200,000, according to the contestants.

The entire company value is equivalent to 100%

25% = 200,000

100% = ?

100% = 200,000/25 x 100

=$8,000 x 100

=$800,000

Mustang Corp. has a selling price of $24, variable costs of $13 per unit, and fixed costs of $55,000. How many units must be sold to break-even?a. 4231 b. 2292 c. 5,000 d. 10,000

Answers

Answer:

5,000

Explanation:

Mustang corporation has a selling price of $24

Variable cost is $13

Fixed cost is $55,000

Therefore the number of units that must be sold to break even can be calculated as follows

= $24-$13

= $11

= $55,000/$11

= 5,000

Hence 5,000 units must be sold to break even

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

Answers

Answer:

Heterogeneous-shopping products(Shopping product)

Explanation:

Products can simply be said to be services, events, places, ideas, person e.t.c.

There are four types of consumer product classes namely:convenience, shopping, speciality and unsought.

Shopping products are homogeneous and heterogeneous in nature.

Homogeneous shopping products usually need enough exposure to facilitate price comparison; they differs in style, comparison, quality and price sensitivity is high e.g housing.

When a process is in control, it results in there being, on average, 16 defects per unit of output. c-chart limits of 4 and 28 would lead to a ________ percent chance of a Type I error.

Answers

Answer:

Type 1= 0.3 %

Explanation:

This is a 3 sigma limit given by ( μ±3σ) . Chebyshev's inequality states that at least 89% of the observations fall in the three sigma limits ( μ±3σ) . The probability increases towards 99.7% as the distribution becomes normal.

Normal distribution= 99.7% observations fall within μ ± 3σ

Type 1 Error= (100- 99.7)%= 0.3%

Upper control limit = UCL= μ + 3σ

Lower control limit = LCL= μ - 3σ

Renz Co. acquired 80% of the voting common stock of Sogers Corp. on January 1, 2022. During 2022, Sogers had revenues of $2,700,000 and expenses of $2,100,000. The amortization of fair value allocations totaled $65,000 in 2022. Not including its investment in Sogers, Renz Co. had its own revenues of $4,800,000 and expenses of $3,600,000 for the year 2022.
The noncontrolling interest's share of the earnings of Sogers Corp. for 2022 is calculated to be:_______.
A. $0.
B. $240,000.
C. $133,000.
D. $120,000.
E. $107,000.

Answers

Answer:

E. $107,000.

Explanation:

The computation of the non-controlling interest of earnings share is shown below:

= Revenue - Expense - allocation of Amortization of fair value  

= $2,700,000 - $2,100,000 - $65,000

= $535,000

Now 80% is purchased by the Renz Co

So 20% would be owned by sogers Corp. So

That means

= $535,000 × 20%

= $107,000

Hence, the correct option is e. $107,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered

How does training differ between companies that are considered BEST Award winners and those that are not?​

Answers

Answer:

Generally, the companies that win the best award are those that provide best training to its employees. As the employees are trained with...

Explanation:

Output Total Cost 0 $380 1 400 2 450 3 530 4 640 5 780 What is the average fixed cost of the 2nd unit of output?a. $65.b. $110.c. $140.d. $160.

Answers

Answer:

$190

Explanation:

In the case when the output is zero that means total cost is equivalent to the total fixed cost also the total fixed cost not based on the output level i.e. it is constant for all the level of output

Since the total fixed cost is $380

And, the average fixed cost is equivalent to the total fixed cost i.e. divided by the output

So here the average fixed cost would be

= $380 ÷ 2

= $190

This is the answer but the same is not given in the options

Your name, address, telephone number, and e-mail address all belong in the ____ section of a résumé.

letterhead
education
references
heading

Answers

Answer:

heading

Explanation:

our contact information—which includes your name, address, phone number, and email address—should always appear at the top of your resume, regardless of which resume format you are using.

Answer:

A) Letterhead

Explanation:

Your answer should actually be letterhead. If you look up what a letter head is online it tells you it's the heading at the top of a paper that usually consists of  a name address, phone number, and email.

I took the quiz and got the answer correct!

EDG 2021

A theory states that while investors and borrowers may normally concentrate on a particular natural maturity market, conditions may cause them to change maturity markets. This theory is called the:__________

Answers

Answer:

Preferred habitat theory.

Explanation:

Explanation on this theory deals a lot on yield; as it tries to let us know that the said investors who's bond are put to play here always tend to show that they are willing to make purchases out of their line or circle of limit if a reasonable amount of yield/ high yield is attached or falls back with their bond when they make these transactions.

This directly implies that investors interest are always seen to be embedded on their returns and also maturity. It is seen to also affect the yield curve in many cases.

When people refer to cognitive ability, they usually are referencing the general overall cognitive ability, also called:________.a. g-factor. b. self-awareness. c. EQ. d. GLAT. e. SAT.

Answers

Answer:

a. g-factor.

Explanation:

G-factor: The term "g-factor" is also referred "general intelligence factor", "general intelligence", or "general mental ability", and is described as a construct that is being developed in "psychometric investigation" associated with the human intelligence & cognitive abilities. The g-factor tends to target a specific measure of "general intelligence". An individual who holds this view ought to believe that someone's intelligence can be expressed & measured via a single number, for example, IQ score.

In the question above, the given statement represents "g-factor".

You bought four put options (each on 100 shares) on EZ stock with an exercise price of $35 per share and an option price of $1.35 per share. Today, the contracts expire and the stock is selling for $36.25 a share. What is your net profit or loss on this investment? Ignore commissions and taxes. Round the answer to the nearest dollar. Enter as positive if a profit; enter as negative if a loss.

Answers

Answer:

-$ 540

Explanation:

Put Option - provides right to sell share at exercise price on expiry.

As it is an Right not Obligation, Thus, buyer will exercise the right only if he is gaining at expiry and he will gain only if exercise price is higher than spot price at expiry

In this case Exercise Price ($ 35) is lower than the spot price ( $ 36.25) at expiry. Thus he will not execrise the option.

He will lose all what he spend in buying option that is $ 1.35 per share

Thus,

Net profit or loss on this investment = 4 Options * 100 Shares each * Loss of $ 1.35 per Share

Net profit or loss on this investment = 4 * 100 * (-1.35)

Net profit or loss on this investment = -$ 540

Jarett & son's common stock currently trades at $30.00 a share. it is expected to pay an annual divident of $1.00 a share a the end of the year(d1 = 1.00) and the constant growth rate is 4% a yearA) What is the company's cost of common equity if all of its equity comes from retained earnings?B) If the company issued new stock, it would incur a 10% flotation cost. What would be the cost of equity from new stock?

Answers

Answer and Explanation:

The computation is shown below:

a. The company cost of capital is

Cost of equity = (D1 ÷ share price)+ Dividend growth rate

= ($1 ÷ $30) + 0.04

= 0.033 +0.04

= 0.0733 or 7.33%

Now  

b. Cost of new equity is

= (D1 ÷ share price ×  (1 - flotation cost)) + Dividend growth rate

= [$1 ÷ $30 × (1 - 0.1)] + 0.04

= ($1 ÷ $30 × 0.9) + 0.04

= 1 ÷ 27 + 0.04

= 0.037 + 0.04

= 0.07704 or 7.71%

Which of the following business actions would likely result in criminal
prosecution?

Answers

Gas stations mainly for them being in the middle of no where and stacked with cash they are the most likely to be Robbed

Answer:

Gas stations mainly for them being in the middle of no where and stacked with cash they are the most likely to be Robbed

A resume generally consists of *blank* and *blank*.

blank 1 blank 2

introduction eagle scout badge

work experience job-related skills

degree certificates personal salutation

Answers

Answer:

work experience and job-relqted skills

A resume generally consists of work experience and job-related skills. Option (b) is correct.

What is Resume?

In a formal document called a resume, jobseekers list their qualifications for a position.

A resume, also known as a curriculum vitae (CV), is a record made and utilized by a person to describe their educational history, professional experience, and accomplishments. Although there are many uses for resumes, they are most frequently employed to find new jobs.

A standard resume includes a summary of education and employment history that is pertinent. The resume is normally one of the first things a potential employer sees about a jobseeker, along with a cover letter and occasionally an application for employment, and is commonly used to screen applicants, frequently followed by an interview.

Therefore, Option (b) is correct.

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The use of accelerated depreciation:____.a. discourages investment in plant and equipment. b. increases expenses and decreases cash flow.c. initially decreases the firm's taxes. d. initially increases the firm's profits.

Answers

Answer:

c. initially decreases the firm's taxes

Explanation:

Accelerated depreciation provides for a higher rate of capital allowance on the assets that is New and Unused and brought in the business for use in manufacturing for the first time. This allowance then lowers for the other years. The purpose of this is to encourage  investment in plant and equipment as it initially decreases the firm's taxes.

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What is the name of the piece below? The majority of people in North Africa practice __________ and speak __________.A.Islam . . . ArabicB.Islam . . . Berber languagesC.Christianity . . . ArabicD.Christianity . . . Berber languages Heyo :)Im trying to look for my little brother,were just messing around. Also! Little bro. If you do see this...I hate you :) hello help me this Question What classification of alcohol would be synthesized from the reaction of 2-butanone with a Grignard reagent? From the reaction of butanal with a Grignard reagent?A. A secondary alcohol; a secondary alcoholB. A tertiary alcohol; a secondary alcoholC. A secondary alcohol; a primary alcoholD. A tertiary alcohol; a primary alcohol Hernando ate 2/8 of a pizza for a dinner. he gave his 6 friends the rest of the pizza, and told them to share equally. To determine the fraction of the whole pizza that each of his friends received, Hernando performed the calculations below. 6/8 divided by 6= (6 divided by 6)/8= 1/8he concluded that each person received 1/8 of the whole pizza. Are Hernando's calculations correct?O yes they are correct. Hernando divided 6 by 6O yes they are correct. Hernando divided 2/8 by 6O No they are not correct. Hernando should have multiplied by 6, not divided by 6O No, they are not correct. Hernando should have divided 8 by 6, not 6 by 6. 3y3x=21 Put the following equation of a line into slope-intercept form, simplifying all fractions. The Phoenician alphabet influenced all of the following languages except __________. A. Greek B. Latin C. English D. Canaanite How many generals were elected each year in the Athenian government?A. 1B 3C. 10D. 50 which of the following is an island nation with a constitutional monarchy Living organisms break down polysaccharides into? How did Johnson celebrate his victory? 28 What is the slope of the line that passes through the points (12, -3)and (-36,25)? PLEASE HELP I WILL MARK BRIANLIEST IF RIGHT AND FIRST PLZZZ!!!!!! To prepare for his mountain biking trip, Rhyan bought four tire patches. Rhyan paid using a gift card that had $22.20 on it. After the sale, Rhyans gift card had $1.90 remaining.Which equations could you use to find the price of one tire patch? Select all that apply.A. 4x 1.9 = 22.2B. 4x 22.2 = 1.9C. 4x + 1.9 = 22.2D. 4x + 22.2 = 1.9E. 22.2 4x = 1.9 Which civilization influenced the Romans to create public sewers, roads, and bridges? A. Mycenaean B. Minoan C. Etruscan D. Phoenician E. Persian A man pand the bank $4,080at the end of 3 years. This was the amount borrowed plus 12% interest for 3 years.so much money and the body Identify the ways that men and women mobilized resources in support of the Patriot movement in the American Revolution. There are two numbers that are twice as far away from 13 than 22. The sum of those numbers are? Close Reading: In source #1, Thomas Jefferson makes three claims regarding why he believes the National Bank of the United States would be unconstitutional. What are these three claims?