Based on the depreciation prior to 2020, the beginning balance when 2020 began was $146,100
What was the opening balance?The opening balance can be found as:
= Cost of depreciable assets - Accumulated cost under double-declining balance
This gives:
= 235,500 - 89,400
= $146,100
This is the opening balance on the depreciable assets because the net book value of a fixed asset is found by deducting accumulated depreciation from the cost.
The accumulated depreciation in this case was $89,500 so it will be deducted from the $235,500 cost.
The rest of the question is:
Bridgeport Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining balance was $ 89,500 whereas straight-line depreciation prior to 2020 would have been $ 45,500. Bridgeport's depreciable assets had a cost of $ 235,500 with a $ 36,900 salvage value, and an 7-year remaining useful life at the beginning of 2020.
What is the beginning balance in 2020?
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The depreciation expense using the straight-line method would have been $44,700
What is the double-declining balance method?
It is a method of depreciating assets where the amount charged each year as depreciation is twice that of the depreciation expense that would have been if the straight-line depreciation method was used.
Depreciation rate using double declining method=100%/useful life*2
the "2" in the formula means double-declining, and the rate of depreciation is 200% of the straight-line method
useful life=assuming it is 5 years
Depreciation rate using double declining method=100%/5*2=40%
What is a straight-line method of depreciation?
It is the method where the depreciation expense per year is the asset cost minus residual value divided by the asset's useful life.
If the depreciation expense using the double-declining balance method in 2020 was $89,400, it means the depreciation expense under the straight-line method would have been half of that(i.e.100%/200%)
depreciation expense(straight-line method)=$89,400*100%/200%
depreciation expense(straight-line method)=$44,700
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Willing to give a lot of points
Please help
Question 4 of 10
What is one of the reasons marketing is essential to the free market system?
A. It ensures that companies make a healthy profit.
B. It helps educate consumers about competitive products.
OC. It employs more people that any other career group.
D. The sales of advertising makes television programming possible.
SUBMIT
One of the reasons marketing is essential to the free market system is that It ensures that companies make a healthy profit.
What is free market?A free market is a market structure where there is no interference from government but forces of demand and supply controls it.
With regards to the above, marketing ensures that products gets to the target audience to attract sales, thereby increase profits.
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What are the consequences of a global basket of currencies in the world?
A currency basket is a collection of various currencies with varying weightings. It is frequently used to determine the market value of another currency, a procedure known as currency peg. Forex traders may also use basket orders to trade many currency pairs at the same time.
Currency baskets are also used in contracts to minimize (or reduce) the risk of currency changes. Currency baskets include the European currency unit (which was replaced by the euro) and the Asian currency unit. The most well-known currency basket, though, is the US dollar index (USDX).
The drawbacks are:
The first thing to make is that a basket currency peg system is opaque. The second issue is that an intermediate regime often limits certain sorts of policy collaboration and may even allow policy conflict. The third drawback, and arguably the most important, is that the basket currency system makes no declaration of the criteria governing management.To know more about currency basket click here:
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If a bank has excess reserves of $20,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has total reserves of?
The total reserves that the bank has is $36,000.
What is the total reserves?Total reserves is the sum of required reserves and excess reserves. Required reserves is the compulsory reserves that must be kept in the vaults of the Central Bank of the country. The required reserve is a function of the reserve requirement, and the deposits customers make in a bank.
The reserve requirement is the percentage of deposits that the Central bank of a country expects banks to keep as deposits. The required reserve is a monetary policy tool that is used to control the money supply in the economy.
Excess reserves is the reserves that a bank has in addition to the required reserves. Excess reserves represent money that can be lent out and used to increase the money supply in the economy.
Total reserves =required reserves + excess reserves
Required reserves = reserve requirement x demand deposit liabilities
0.2 x 80,000 = 16,000
Total reserves = 16,000 + 20,000 = 36,000
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All of the following countries would agree that a 6-month-old does not need their mother more than a 3-year-old EXCEPT:
All of the following countries would agree that a 6-month-old does not need their mother more than a 3-year-old except Norway.
What is Norway?
Norway is a Scandinavian country with mountains, glaciers, and deep coastal fjords. Oslo, the capital, is a city of parks and museums. The Viking Ship Museum in Oslo houses preserved 9th-century Viking ships. Bergen, with its beautiful wooden cottages, is the starting point for cruises to the majestic Sognefjord. Norway is also recognized for its fishing, hiking, and skiing, particularly in Lillehammer's Olympic resort.Norway is known as the Land of the Midnight Sun. It is well-known for its magnificent fjords, lakes, and breathtaking skies. Norway is also known for its languages, Vikings, and folklore, as well as its environmental friendliness and oil production. Furthermore, many Norwegians are well-known skiers, frozen pizza fans, and Tesla drivers!Except for Norway, all of the following countries would agree that a 6-month-old does not require their mother any more than a 3-year-old.As it is given in the description itself, except for Norway, all of the following countries would agree that a 6-month-old does not require their mother any more than a 3-year-old.
Therefore, all of the following countries would agree that a 6-month-old does not need their mother more than a 3-year-old except Norway.
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Which of the following is true regarding an emergency exit plan? It visually identifies the locations of all AED machines It is located in all closets in a building It clearly labels all exit and entry doors, stairwells, and elevators It clearly identifies the location of the manager's office
Option C. The truth about the emergency exit is that It clearly labels all exit and entry doors, stairwells, and elevators.
What is the emergency exit?This is the door or gate that leads outside of a building. The emergency exit is very useful in buildings.
The reason for this is due to cases of serious emergencies such as fire outbreak or other issues.
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__________ are elements of information that the commander identifies as being critical to timely decision making.
Commander's critical information requirements are elements of information that the commander identifies as being critical to timely decision-making.
Commander (commonly abbreviated as Cmdr) is a common naval officer rank. Commander is also used as a rank or title in other formal organizations, including some police forces. In some countries, this naval rank is called frigate commander.
A commander is also a general term for officers who command units in an army, such as platoon commanders, brigade commanders, and squadron commanders. Police use terms such as "district commander" and "operations commander."
Commander is a rank used in the navy but is rarely used as a rank in the military. Originally, the title "master and commander" was used in the 18th century by a naval officer to command a warship, too large for a lieutenant to command, but too small to warrant the duties of a post-his captain (until about 1770). ) master; the commander served as his own master. In practice, these were unrated sloops, usually no more than 20 guns. The Royal Navy shortened "Master and Commander" to "Commander" in his 1794. However, the terms "master and commander" remained in common (unofficial) use for several years, until the equivalent American rank master commander continued to be used until 1838 when it was changed to the commander. I got
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Charlies pizza collected $150 in sales tax for the quarter. which of the following accounts should be used in order to post the sales tax?
The account that should be used in order to post the sales tax is only Sales Taxes Payable.
What is sales tax?A sales tax is an indirect tax that is levied on certain goods meant for consumption. It is a tax levied on customers when they purchase goods or services, hence calculated as a percentage of the value of the goods sold.
The sales tax is the responsibility of the final consumer only; any intermediate buyer must produce a resale certificate to clear it and sales taxes are levied on any buyer who can not produce such a document.
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Regardless of the mode used for the growth of a firm, entrepreneurs need to be good negotiators.
A. True
B. False
The statement, regardless of the mode used for the growth of a firm, entrepreneurs need to be good negotiators, is true.
Regardless of the mode used for the growth of a firm, entrepreneurs need to be good negotiators. They need to negotiate with external parties in order to obtain the human and financial resources which is necessary to fuel business growth.
Basically, entrepreneurs who are good negotiators are able to strike that balance between getting what they want and giving away the service. This becomes beneficial for both parties.
Hence, good negotiations is important, as it significantly contributes to business success, and help build better relationships.
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A written order to a bank to pay the stated amount to the person or business named is a.
A check is a written order to a bank to pay the stated amount to the person or business named on it. A checking account is also called a demand deposit, because the money may be withdrawn at any time—that is, “on demand.”
A check or draft is a written order from a depositor to a bank to pay a specified amount from the balance of a checking account. A negotiable instrument that instructs a bank to pay an amount from a personal checking account to an individual or entity is known as a bill of exchange or check.
Payment orders can be used when electronic payments are not possible. Accounts payable is like a check. It is much cheaper to pay electronically, but if this is not possible the department can place a payment order. They can be ordered through government banks.
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"All the profession/occupations are equally important" How and why?
Answer:
How: All proffessions and occupations have their various fields and all fields are needed to work together for the effective growth of an economy.
Why: An economy comprises of fields in which the various occupations are embedded in. For the success of an economy all fields must work together. That is no field or occupation is more important than the other
Based on the example in the video, given the raise you received you would be worse off if inflation is
Based on the received pay raise, one would be worse off if the inflation is increasing without consideration to increase the pay raise as well.
What is an inflation?This refers to the rate of increase in prices over a given period of time and also known as the overall increase in prices or the increase in the cost of living in a country.
Usually, when we are evaluating a raise, we must account for the rate of inflation over the course of a year because if the inflation rate is greater than the percentage raise in the wage, then, one is worse off because the real income will fall.
Hence, based on the received pay raise, one would be worse off if the inflation is increasing without consideration to increase the pay raise as well.
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Describe why cash flow management is important to a business and its financial health. Use a recent financial news story as an example to support your claims
The cash flow statement plays a vital role for each type of company as it shows the cash positions with respect to the liquidity because the cash should be the most liquid asset and the same would be presented in the organization's hands.
Moreover, they always try to have a sufficient cash amount so that the risk attached to the unfavorable economic situation could be eliminated. So the business wants to store a high value of cash amount and have sufficient liquidity and the same would be presented in the cash flow statement.
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One difference between a hedger and a speculator is that the hedger Group of answer choices may not close out his position by taking an opposite position. may have either a profit or a loss. does not have to put up margin. faces a risk without the futures contract.
One difference between a hedger and a speculator is that the hedger (C) faces a risk without the futures contract.
Who is a hedger?A hedge is an investment position used to counterbalance prospective losses or benefits from a companion investment. Stocks, exchange-traded funds, insurance, forward contracts, swaps, options, bets, numerous types of over-the-counter and derivative products, and futures contracts can all be used to create a hedge.Who is a speculator?In finance, speculation is the acquisition of an asset with the expectation that it will increase in value in the near future. Many speculators pay little attention to a security's underlying value and instead focus solely on price changes.One distinction between a hedger and a speculator is that the hedger bears risk in the absence of a futures contract.
Therefore, one difference between a hedger and a speculator is that the hedger (C) faces a risk without the futures contract.
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Correct question;
One difference between a hedger and a speculator is that the hedger
Group of answer choices
(A) does not have to put up a margin.
(B) may not close out his position by taking an opposite position.
(C) faces a risk without the futures contract.
(D) may have either a profit or a loss.
Louisa is the delivery manager at a luggage manufacturing company. She must inform her supervisor that the shipment of a particular batch of luggage will be delayed because a team member made a mistake with the dates. What is the most effective way for Louisa to convey this bad news to her supervisor
Louisa to convey this bad news to her supervisor that she ought to endorse a solution on way to assist her manager to cope with the postponement.
A manager, or lead, is the project identify of a decrease-diploma manipulate characteristic that is based on authority over workers or place of job. A manager additionally may be one of the most seniors in the staff in the administrative center, which includes a professor who oversees a Ph.D. dissertation.
Supervisor responsibilities encompass:
managing workflow. education new hires. developing and coping with team schedules.The supervisor's everyday position is to speak approximately organizational needs, oversee employees' standard overall performance, provide steerage, and resources, grow to be privy to improvement needs, and control the reciprocal dating among the workforce and the company so that everybody is an achievement.
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Absorption costing can lead managers to mistakenly believe that fixed manufacturing overhead costs will Blank______ in total as the number of units produced increases. Multiple choice question. increase remain the same decrease
Absorption costing can lead managers to mistakenly believe that fixed manufacturing overhead costs will A)increase in total as the number of units produced increases.
Absorption costing includes constant overhead as part of the inventory value, and it's far expensed as the price of products offered whilst stock is offered.
in addition, the usage of absorption costing generates a scenario wherein really manufacturing more objects that move unsold with the aid of the quit of the duration will boom internet income. because constant prices are spread throughout all devices synthetic, the unit constant fee will decrease as more gadgets are produced.
the primary benefit of absorption costing is that it complies with GAAP and extra appropriately tracks income than variable costing. Absorption costing takes under consideration all product prices, unlike variable costing, which simplest considers variable charges.
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According to the "spotlight on small business" box, many investors are turning to independent advisors rather than large wall street firms because:______.
The reason why many investors are turning to independent advisors instead of large wall street firms is because they are offered more flexibility in investment options.
Why are people choosing independent advisors?Independent advisors do not have to worry about a certain corporate policy or the interest of their shareholders because they have none.
This allows them to offer more investment options to people thereby allowing them the flexibility to pick the investment choices they prefer.
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If all of your organization's data is centralized in a small number of data centers, than focusing security on perimiter defense is adequate to assure your data is safe.
a. True
b. False
The answer is false.
To stop attacks and secure essential data, defense-in-depth user protection entails a mix of security products (e.g., WAF, antivirus, antispam software, etc.) and training. Multiple security products can be bundled in the same package by a provider providing software to protect end users against cyberattacks.
If one protection fails, another is present to prevent an attack. This deliberate redundancy increases security and helps guard against a broader range of assaults.
Therefore, answer is false.
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Diversification reduces the risk of a portfolio because?
Diversification reduces the risk of a portfolio because different investments can rise and fall independently of each other.
Divide your money among a number of assets to achieve diversification. Because different investments can rise and fall independently of one another, diversification helps to lower risk. The pairings of these assets more often than not will cancel out each other's volatility, hence lowering risk.
What is diversification and what does it reduce in a portfolio?
Spreading your investments out will limit your exposure to any one form of asset. This approach is known as diversification. This routine is intended to gradually lessen the volatility of your portfolio.What is diversification of risk?
The process of investing across various markets and subcategories within a single portfolio is known as risk diversification.
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Computer cycle counting programs can produce a cycle count notice after which events?
A cycle count notice after the events is :
A positive balance but a backorder was created
A specified level of activity
A zero balance on-hand
A system cycle includes the stairs that a computer's processor executes whenever it receives a machine language practice. It's far the maximum primary CPU operation, and modern-day CPUs are capable of carrying out thousands and thousands of machine cycles in line with the second. The cycle includes three well-known steps: fetch, decode and execute.
The guidance cycle is the cycle that the vital processing unit follows from boot-up until the computer has closed down in an effort to technique instructions. It is composed of 3 primary tiers: the fetch level, the decode degree, and the execute degree.
The gadget practice cycle describes the order in that instructions is processed on a laptop. commands are processed below the path of the manipulated unit in a step-via-step manner.
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Monopolies, oligopolies, and monopolistic competitive industries all . Question 9 options: Earn positive profits in the long run. Are completely unconstrained in their pricing. Raise price and quantity over what would occur in perfect competition in order to maximize their profits. Have market power.
Market power exists in oligopolies, monopolistic competitive industries, and monopolies.
Market or monopoly power is the capacity of a firm (or collection of firms) to increase and maintain prices above the level that would prevail under competition. When market power is used, output is decreased and economic welfare is lost.
Describe monopolies.A scenario known as monopoly occurs when there is only one seller in the market. The monopoly case is viewed as the polar opposite of perfect competition in conventional economic analysis. The industry's downward-sloping demand curve is, by definition, the demand curve that the monopolist faces.
what is an oligopoly?A small number of providers control oligopoly marketplaces, which are dominated by them. All nations and a wide range of industries contain them. Other oligopoly markets are substantially less competitive, though they may at first appear to be so in some cases.
What exactly is monopolistic competition in an industry?In a market where numerous businesses provide goods or services that are comparable (but not exact substitutes), monopolistic competition is the norm. In a monopolistic competitive industry with low entry and exit barriers, no firm's decisions directly affect those of its rivals.
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The weighted average cost of capital is determined by Blank______. Multiple choice question. multiplying the weighted average after-tax cost of debt by the weighted average cost of equity adding the weighted average after-tax cost of debt to the weighted average cost of equity dividing the weighted average after-tax cost of debt by the weighted average cost of equity adding the weighted average before-tax cost of debt to the weighted average cost of equity
The weighted average cost of capital is determined by dividing the weighted average after-tax cost of debt by the weighted average cost of equity. Option C. This is further explained below.
What is WACC?Generally, A company's WACC is determined by calculating the cost of each kind of capital (debt and equity) by the market value weight assigned to that source of capital, and then summing the results.
In conclusion, It is calculated by dividing the weighted average after-tax loan costs by the weighted average equity costs, and the weighted average cost of capital is the result.
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1 2 3 all a firm that purchases electricity from the local utility for $350,000 per year is considering installing a steam generator at a cost of $280,000. the cost of operating this generator would be $260,000 per year, and the generator will last for five years. if the firm buys the generator, it does not need to purchase any electricity from the local utility. the cost of capital is 10%. for the local utility option, consider five years of electricity purchases. for the generator option, assume immediate installation, with purchase and operating costs in the current year and operating costs continuing for the next four years. assume payments under both options at the start of each year (i.e., immediate, one year from now,..., four years from now). what is the net present value of the more attractive choice
The more attractive choice is the choice that has less present value which is Using steam generator valued at $1, 364,165.02
Given data;
cost of electricity per year: = $350,000
cost of installing a steam generator = $280,000
generator operation cost per year = $260,000
generator will last for = 5 years
cost of capital for local utility option = 10%
purchasing electricity from the local utility
cost of electricity per year: = $350,000
cost of capital for local utility option = 10%
Present value = - 350,000 - 350,000 / 1.10 - 350,000 / 1.10^2 - 350,000 / 1.10^3 - 350,000 / 1.10^4
Present value = - 1,453,452.906
Present value = - 1,453,452.91
Using steam generator
cost of installing a steam generator = $280,000
generator operation cost per year = $260,000
Present value = - 280,000 - 260,000 - 260,000 / 1.10 - 260,000 / 1.10^2 - 260,000 / 1.10^3 - 260,000 / 1.10^4
Present value = - 1, 364,165.016
Present value = - $1, 364,165.02
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Which Agile principle is being practiced if a team chooses to focus on the highest priority product backlog items?
Agile model principle is being practiced if a team chooses to focus on the highest priority product backlog items.
What is Agile model?Agile model serves as one that is a systematic method that can be used to make any project even in the absence of concrete requirements .
In this case, Agile model principle is being practiced if a team chooses to focus on the highest priority product backlog items.
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In a process costing system, the application of factory overhead usually would be recorded as an increase in: (CPA adapted)
In a process costing system, the application of factory overhead usually would be recorded as an increase in (CPA adapted) Finished goods inventory control.
What is process costing system?
A process costing system serves as a method that manufacturing industry usually used in determining the total production cost for each unit of product.
Hence, In a process costing system, the application of factory overhead usually would be recorded as an increase in (CPA adapted) Finished goods inventory control.
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Nonbanks are financial organizations that accept no but offer many of the services provided by regular banks.
This is true about nonbanks. They are financial organizations that accept no regulations but offer many of the services provided by regular banks.
What are nonbanks?This is the term that is used to refer to the types of banks that are known to offer services that are similar to banks.
These types of banks are known to have no licenses and they are not regulated by any body.
These types of financial institutions operate in ways that may seem like they are carrying out similar activities that goes on in the banks. Some of these would be loans, insurance and exchange of currency.
Some examples of this would be
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the graph to the right depicts the per unit cost curves and demand curve facing a shirt manufacturer in a competitive industry 8.53
The perfectly competitive market profit mathematically given as
P = 131.76
What is the perfectly competitive market profit?Generally, the equation for a perfectly competitive market is mathematically given as
P = MC
Therefore
P= ( P -ATC) * Q
Hence
P= ( 8.53 - 6.70) * 72
P = 131.76
In conclusion, a perfectly competitive market profit
P = 131.76
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Free samples, point-of-purchase displays, sweepstakes, and contests are examples of what imc strategy?
Free samples, point-of-purchase displays, sweepstakes, and contests are examples of IMC strategy of sales promotion.
This is further explained below.
What is sales promotion. ?Generally, Examples of IMC strategies for sales promotion include giving out free samples, putting up displays at points of sale, holding sweepstakes, and holding competitions.
In conclusion, Consumer and trade sales promotions are two different categories. While a trade campaign concentrates on organizational clients that may prompt rapid sales, a consumer sales promotion targets the consumer or end-user purchasing the goods.
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Polaco Corporation makes a product that has the following direct labor standards: Standard direct labor-hours 0.4 hours per unit Standard direct labor rate $ 24.00 per hour In May the company produced 8,500 units using 3,220 direct labor-hours. The actual direct labor rate was $22.10 per hour. The labor efficiency variance for May is:
The labor efficiency variance for May for Polaco Corporation is $4,320 Favorable.
What is the labor efficiency variance?The labor efficiency variance shows the difference between the actual direct labor hours worked and budgeted direct labor hours,
The labor efficiency variance is computed as the Standard hours allowed for production (SH) – actual hours taken (AH) × standard rate.
Data and Calculations:Standard direct labor-hours per unit = 0.4 hours
Standard direct labor rate = $24 per hour
Production in May = 8,500 units
Actual hours used = 3,220 hours
Standard hours allowed = 3,400 hours (8,500 x 0.4)
Labor efficiency variance = $4,320 (3,400 - 3,220 x $24)
Thus, the labor efficiency variance for May for Polaco Corporation is $4,320 Favorable.
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A company issues its equity securities to purchase land. the common stock is not publicly traded. the best indicator of fair value is the:_______
A company issues its equity securities to purchase land. the common stock is not publicly traded. the best indicator of fair value is the appraised value of the land.
What are securities?These are financial instruments such as stocks, shares and bonds that can be traded.
In other words, securities are negotiable financial instruments issued by a company or government that give ownership rights or rights to buy and sell.
The classification of securities are:
1. Equity shares- referring to the common stock or shares.
2. Debt- referring to the bond, debentures and banknotes.
3. Derivatives- referring to options, futures, swaps and forwards.
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Cost-volume-profit analysis helps managers predict how changes in and levels affect income.
cost-volume-profit (CVP) analysis, helps managers predict how changes in costs and sales levels affect profit. In its basic form, CVP analysis involves computing the sales level at which a company neither earns an income nor incurs a loss, called the break-even point.
Core paper. Cost-Volume-Profit (CVP) analysis is a method of examining how changes in variable and fixed costs affect a company's profits. A company can use his CVP to see the break-even point (covering all costs) or the number of units that need to be sold to meet a certain minimum profit margin.
CVP analysis helps determine the level of all costs involved. This concept helps eliminate unnecessary information that can complicate management's decision-making process. For example, businesses use costs associated with management to determine whether new decisions are economical.
The main CVP formula is: Profit = Revenue – Cost. Of course, to use this formula, you must know how to calculate sales: (Retail Price x Quantity). You also need to know how to calculate the cost: fixed cost + (variable price x number of units).
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