what amount would the lessee record as annual amortization on the asset using the straight-line method, assuming no residual value? (round your answer to the nearest whole dollar.) multiple choice
Answers
The lessee would record an annual amortization expense of $2,000 on the asset using the straight-line method, assuming no residual value.
To calculate the annual amortization on an asset using the straight-line method, we need to consider the initial cost of the asset and its useful life. The straight-line method assumes that the asset depreciates evenly over its useful life, with no residual value at the end.
Here's how you can calculate the annual amortization:
1. Determine the initial cost of the asset: This is the cost at which the asset was acquired.
2. Determine the useful life of the asset: This is the estimated number of years that the asset will be useful.
3. Divide the initial cost by the useful life: This will give you the annual amortization expense.
For example, if the initial cost of the asset is $10,000 and the useful life is 5 years, the annual amortization would be calculated as follows:
Annual amortization = Initial cost / Useful life
Annual amortization = $10,000 / 5
Annual amortization = $2,000
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Related Questions
Clemson University Urgently needed $30 million to properly execute a student testing plan during fall of 2020. Clemson approached by a commercial paper dealer offering to sell an issue for Clemson. The dealer indicates that Clemson could sell a $30 million issue maturing in 270 days at an interest rate of 8. 5 percent per annum (deducted in advance). The fee to the dealer for selling the issue would be 1. 5% of the issue size. What was annual financing cost of Clemson to secure large-scale testing
Answers
The financing cost of Clemson to secure the investment will be $2.2875 million.
How to calculate the financing costFrom the information, we've to calculate the simple interest first. This will be:
= PRT/100
= (30 × 0.75 × 8.5)/100
= 1.9125 million
The fee is 1.25% of the issue size. This will be:
= 1.25% × $30 million
= $375000
Therefore, the financing cost will be:
= $1.9125 million + $0.375 million
= $2.2875 million
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A corporation chartered in Mexico and doing business in the United States is known as a foreign corporation in the United States
true or false?
Answers
Answer:
true
Explanation:
true because it's a business between two country
Which type of skills can help you determine what your customers want?
A. Speaking skills
B. Writing skills
C. Listening skills
D. Math skills
Please select the best answer from the choices provided A B C D
Answers
Answer:
C. Listening skills
Explanation:
By listening to a customer, you can determine what they want.
Improving listening skills can help you better understand and help customers.
I hope this helps.
Answer: C edge 2021
Explanation:
ur a real one :)
the basic keynesian model is built on the key assumption that:
Answers
The basic Keynesian model is built on the key assumption that the level of aggregate demand determines the level of economic activity.
The basic Keynesian model, also known as the Keynesian cross model, assumes that in the short run, the level of economic output is determined by the level of aggregate demand, which is composed of consumption, investment, government spending, and net exports. In this model, changes in any of these components can affect the level of output, income, and employment.
Keynesian economics emphasizes the role of government intervention in stabilizing the economy during times of economic downturns, through policies such as fiscal stimulus and monetary policy.
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What does a boilermaker do?
applies marble and tile to floors, walls, and other surfaces
installs iron or steel beams, columns, and girders
assembles, installs, and repairs large containers that hold gases and liquids
repairs roofs of structures, using asphalt, metal, shingles, and other materials
Answers
Answer:
C) Assembles, installs, and repairs large containers that hold gases and liquids.
Maria is a recruiter with a bachelor's degree in business administration. She is well respected among her peers for her professional standards and understanding of the HR field. However, she has noticed that when she recruits engineers for her company, they sometimes seem unresponsive to her. The most likely reason for this is because Maria:________.
Answers
Group of answer choices.
A. Is not warm enough to the applicants.
B. Is perceived as less credible because she is an HR specialist.
C. Does not give applicants enough information, leaving them with more questions than answers.
D. Comes off as being too professional for someone in the HR field.
E. Is not approaching the candidate with enough skepticism.
Answer:
B. Is perceived as less credible because she is an HR specialist.
Explanation:
Human resources (HR) can be defined as an art of managing, controlling and improving the number of people (employees or workers), functions, activities which are being used effectively and efficiently by an organization.
Hence, human resources managers are saddled with the responsibility of managing and improving the welfare and working conditions of the employees working in an organization.
In this scenario, Maria is well respected among her peers for her professional standards and understanding of the HR field. She noticed that when she recruits engineers for her company, they sometimes seem unresponsive to her. Thus, the most likely reason for this is because Maria is perceived as less credible because she is an HR specialist and as such is considered not to have a deep understanding of the field of engineering to recruit a qualified and experienced candidate.
According to the encouraged–worker effect, good economic news induces people out of the labor force to search for work, thereby causing the unemployment rate to?
Answers
The encouraged-worker effect is a theory that suggests when there is good economic news, such as an increase in job opportunities or higher wages, people who were previously not actively searching for work are encouraged to enter the labor force and start looking for employment.
As a result, the unemployment rate may initially increase. This is because the number of unemployed individuals actively looking for work has increased, while the number of employed individuals remains relatively stable. When more people actively search for work, the labor force participation rate increases, which can temporarily push up the unemployment rate.
In summary, according to the encouraged-worker effect, good economic news can initially cause the unemployment rate to increase as more people enter the labor force in search of work. However, as these individuals find employment, the unemployment rate should eventually decrease.
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Common trade agreements include the World Trade Association, economic communities, bartering, countertrade, and free-trade zones. What are possible concerns regarding trade agreements?
Answers
Explanation:
1. Unequal terms: Trade agreements could potentially create an unfair balance of power between two entities, allowing one country or party to benefit while the other is left with unfavorable terms.
2. Exploitation: Trade agreements could be manipulated to allow countries or entities to exploit resources or labor in the other countries in exchange for unfair terms.
3. Job Loss: Trade agreements can lead to job losses in countries that are unable to compete globally due to their industry not being competitive enough. This can create economic instability in countries as well as social unrest.
4. Impacts on Local Communities: Trade agreements can lead to adverse impacts on local communities, such as displacement from their traditional lands, decreased access to natural resources, or ecological destruction.
5. Risk of Dumping: Dumping is the practice of exporting products at very low prices to create an unfairly competitive market for other countries, potentially resulting in major losses for countries that cannot compete. This practice is often seen in trade agreements.
which act governors partnership firm??
Answers
Answer:
Partnership firms in India are governed and regulated by the Indian Partnership Act, 1932. Partners are the individuals that join together to form a partnership firm. A contract between the partners establishes the partnership firm.
Explanation:
a broker took a listing on a property and shortly thereafter discovered that the seller/client has been previously declared incompetent by the court. the listing agreement now is
Answers
In this situation, the listing agreement is voidable by the seller or client due to their lack of legal capacity to enter into a contract. The broker should immediately inform the seller or client that the listing agreement is not valid and cannot be enforced due to their prior court declaration of incompetence.
The broker should also take steps to protect themselves and their brokerage from any legal or ethical issues that may arise from the situation. This may include consulting with legal counsel, informing any potential buyers or agents who may have been contacted about the property, and taking steps to ensure that the seller or client is properly represented and protected in any future dealings related to the property.
It's important for brokers and agents to be aware of issues related to legal capacity and competency when working with clients, and to take appropriate steps to ensure that all contracts and agreements are valid and enforceable.
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Complete Question
A broker took a listing on a property and shortly thereafter discovered that the seller or client had been previously declared incompetent by the court. What happens to the listing agreement in this situation?
All of the following actions lead to the payment of a credit card fee EXCEPT... Using your credit card to get cash from an ATM. Using your credit card to purchase items in a foreign country. Paying your credit card bill ten days after the Due Date. Paying your credit card bill in full and on time every month.
Answers
Answer:
Paying your credit card bill in full and on time every month.
Explanation:
The other choices will most likely prompt a fee to be charged.
WILL GIVE BRAINLIEST.
The reason Louis Vuitton will not lower it's prices is because it does not want to harm its:
A. Return on Investment
B. Brand Image
C. Psychological Pricing
Answers
Answer:
A. Return on Investment
When something is grown and harvested in the same country it is distributed in, it can be considered what?
capital
international
duties
domestic
Answers
Answer:
domestic
Explanation:
In business, domestic refers to the home country of the producer or consumer. The domestic market is the market within the borders of the seller's country. Domestic contrasts with international, which refers to beyond the borders of a country.
Products that are produced and distributed within the country are domestic products. They are often referred to as local products. Domestic goods become exports if sold outside the borders of their country of origin.
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Manni wants to start a paper company. He needs to find a place where he can have access to lumber so he can create his products. Which category of economic resource does he require?
labor
entrepreneurial ability
land
Answers
Answer:
I think land
Explanation:
because he needs the wood to make paper, and wood makes paper so
The Correct Answer: land
CALCULATE THE BREAK EVEN POINT KNOWING THAT THE TOTAL FIXED COSTS IS $100.000 AND THAT THE SELLING PRICE /UNIT-$10 AND THE VARIABLE COST/UNIT = $5
Answers
The break-even point can be defined as the point where total revenue and total expenses are equal, and where no profits or losses are incurred. The formula for calculating the break-even point is as follows:
Break-even point = Total Fixed Costs ÷ (Price per Unit - Variable Cost per Unit)In this case, the total fixed costs are $100,000, the selling price per unit is $10, and the variable cost per unit is $5. Therefore, the break-even point can be calculated as follows:
Break-even point = $100,000 ÷ ($10 - $5)= $100,000 ÷ $5= 20,000 unitsTherefore, the break-even point for this scenario is 20,000 units. In other words, the company needs to sell 20,000 units at a selling price of $10 per unit and a variable cost of $5 per unit in order to break even.
Break-even point is an important concept in managerial accounting. It is the point at which total revenue equals total costs, and there is no profit or loss. In other words, it is the point where a business can cover all of its costs and start to make a profit. To calculate the break-even point, the total fixed costs and the variable costs per unit need to be known. In this case, the total fixed costs are $100,000, the selling price per unit is $10, and the variable cost per unit is $5.Using the formula mentioned above, the break-even point can be calculated by dividing the total fixed costs by the difference between the selling price and the variable cost per unit. In this case, the break-even point is 20,000 units, which means that the company needs to sell 20,000 units at a selling price of $10 per unit and a variable cost of $5 per unit to break even.
The break-even point is an important concept for businesses to understand, as it helps them to determine the minimum amount of sales needed to cover their costs. By knowing the break-even point, businesses can make informed decisions about pricing, production, and marketing, which can help them to increase profitability.
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to be relevant, what characteristic must accounting information exhibit?
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Please mark my answer as the Brainliest if you find this helpful :)
If you were a salesperson, what would be the most challenging part of the sales process for you? Explain.
Answers
The most challenging part for me would be overcoming objections because there are so many possible objections a customer could have. Also if the customer doesn't know their needs this can be even harder to accomplish.
Write any 4 points regarding the nature of target customers, which in the present times has led to the growing importance of ‘Persuasive function of Promotion'? MARKETING
Answers
Answer:
A target customer profile is simply a specific group of customers most likely to respond positively to your promotions, products, and services. 4 points regarding the nature of target customers:
What kind of people we’re looking?Where to find them?What our customers want from our brand, to adapt our value proposition so that our brand is relevant to a specific need or problem?How they compare and choose products to adjust marketing campaigns to make our offering seem the most compelling?Digital marketing has led to the growing importance of ‘Persuasive function of Promotion' because customers can learn about promotions from home and even compare the campaigns.
Explanation:
Persuading function of Promotion is to motivate customers to buy products under promotion due to intense competition among different industries producing similar types of products.
Which are the factors of the substitute product that pose a great threat in the industry environment?
A. Preferences and tastes of the customers easily change.
B. The buyer has the potential for backward integration.
C. The cost of switching the supplier cost is minimal.
D. Product differentiation is highly noticeable.​
Answers
A. The main factors of the substitute product that pose a great threat in the industry environment are the preferences and tastes of the customers easily changing, and the buyer having the potential for backward integration.
Preferences and tastes of customers can easily change due to the availability of different alternatives in the market. This leads to customers switching to other substitutes which can be a threat to the industry environment.
Moreover, the buyer has the potential for backward integration which means they can start producing the product themselves, thus eliminating the need to buy from other suppliers.
This can reduce the supplier’s bargaining power and lead to higher competition in the market. The cost of switching suppliers is also very minimal in the market due to the availability of substitutes. This makes it easier for customers to switch suppliers in search of better deals.
Product differentiation is also highly noticeable in the market, as customers are looking for differentiating factors in the product to select the one most suitable for their needs. This can be a threat to the industry environment as it can cause customers to switch to other substitutes.
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NEED HELP ASAP, WILL GIVE BRAINLIEST
1. Variable Costs are also known as ___________
A. Cost of Goods Sold
B. Liabilities
C. Assets
D. Equity
2. The bank purchased a desk for a new employee. What type of cost is the purchase of a new desk?
A. Fixed Cost
B. Variable Cost
3. Today I sold a new 80 inch television. The sale of this item is called________?
A. Unit of Sale
B. Asset
C. Cost of Goods Sold
Answers
Answer:
Cost of Goods Sold
variable cost
evality
2. Fixed cost
3. Unit of sale
journal entries
sold goods costing Rs. 15000 for Rs.5000 profit
Answers
Answer:
sales cr profit cash dr
Apartments that are currently available for rent and in excellent condition will be part of
Answers
Answer:
the Show List
Explanation:
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is 40.000 . b. Actual sales for October and November and expected sales for December are as follows:
Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60 % collected in the month following sale, and 18 % collected in the second month following sale. The remaining 2% is uncollectible. c. Purchases of inventory will total 280,000 for December. Thirty percent of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory purchases total 161,000 , all of which will be paid in December. d. Selling and administrative expenses are budgeted at 430,000 for December. Of this amount, 50,000 is for depreciation. e. A new Web server for the Marketing Department costing 76,000 will be purchased for cash during December, and dividends totaling 9,000 will be paid during the month. f. The company maintains a minimum cash balance of 20,000 . An open line of credit is available from the company's bank to bolster the cash position as needed.
(a) Prepare a schedule of expected cash collections for December.
Answers
Budgeting: Budgeting is a management accounting process. Various activities are performed to prepare a budget. Under the process of budgeting, budgets are prepared which act as a tool for decision making. Budgets are used by the management for taking various vital decisions.
Budgeting is an important process for any business. It aids coordination amongst various departments of an entity. Budgeting is important for tracking and imthe proving performance of an entity. Under the process of b,udgeting the first and foremost budget that is created is a sales budget.
In course of ordinary business, the process of budgeting includes:
• Estimating the future sales level
• Estimating the cash inflows and outflows in future
• Estimating the future day to day operations of the business entity
• Incorporating estimates made into the financial statements
Budget: A quantitative financial plan for a period of time. It is prepared for future accounting periods. A budget is revised and modified on regular basis based upon the actual circumstances.
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Carla Vista Co. bought a machine on January 1, 2017. The machine cost $180000 and had an expected salvage value of $27000. The life of the machine was estimated to be 6 years. The depreciation expense using the straight-line method of depreciation is
Answers
The depreciation expense of the machine bought by Carla Vista Co. using the straight-line method of depreciation is $25,550.
What is depreciation expense?Depreciation expense is the cost of a depreciated asset for a single period, and it shows how much of the asset's value was used up in that year. Depreciation expense is reported as a non-cash expense on the income statement, reducing the company's net income.
The depreciation expense using the straight-line method of depreciation is calculated as:-
Original cost - salvage value ÷ useful life
= ($180,000 - $27,000) ÷ (6 years)
= ($153,000) ÷ (6 years)
= $25,500
In this method, the depreciation is same for all the remaining useful life.
Therefore, $25,500 is the depreciation expense using the straight-line method of depreciation.
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A whole supermarket shelf of snack food bags is marked, "Frito-Lay." This is an example of a(n)
brand.
a. co brand
b. individual
c private
d. wholesale
e. family
Answers
What kind of conflict is a character dealing with when s/he is conflicted with something in their head or mind, whether it is guilt, pain, or a decision?
Answers
Character versus self conflict is the internal conflict that a character dealing with when s/he is conflicted with something in their head or mind, whether it is guilt, pain, or a decision
What is an internal conflict?When a character in literature feels conflict inside of them, that is an internal conflict. The antithesis of internal conflict is external conflict, which happens when a character encounters outside antagonistic factors, such as another character or a natural disaster. An internal conflict is a struggle going on in a character's head.
Things like what the character can see for but not quite reach. As opposed to external conflict, where a character is battling an external force, such as wars, a bike chain breaking off, or being unable to pass a barricade. The most frequent form of internal conflict may be self-perception conflict.
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Oceanview Marine Company Preliminary Analytical Procedures: Identification of Accounts with Unexpected Fluctuations December 31, 2015 2-4-a Instructions: In the space provided below, identify those accounts that you believe are most likely to be materially misstated. The likelihood of misstatement may be indicated by an uncxpected fluctuation, or lack of fluctuation where one is expected. Materiality reflects the size of the potential misstatement in relation to net income and other financial statement measures, Include your evaluation as to why the account balance differs from your expectations Balance Sheet Accounts: Identify balance sheet accounts that you believe are most likely to be misstated, and evaluate why the fluctuation (or lack thereof) is significant. Account Allowance for doubtful116,636 CR 116,636 CR Allowance for doubtful accounts is based on ending 2015 Bal 2014 Bal Evaluation A/R balance. Ending A/R balance increased by over 360,000 from prior year, but allowance for doubtful accounts remained constant. accounts Income Statement Accounts: Identify income statement accounts that you believe are most likely to be misstated and evaluate why the fluctuation (or lack thereof) is significant. Account 2015 Bal 2014 Bal Evaluation Current workpapers-audit planning ◆ Page
Answers
The accounts listed below are most likely to include major materially inaccuracies, according on the information provided: It makes advantage of an allowance for shaky accounts.
Accounts for a balance sheet: Allowance for dubious Accounts: Although the final total of accounts receivable grew from the previous year by more than $360,000, the allowance for dubious accounts remained steady at $116,636.
This would suggest that the allowance is undervalued and might not be enough to cover any bad debts, which would lead to an overestimation of accounts receivable and net income. Accounting for income statements: The information presented does not include any accounts from the income statement. The only page of the current workpapers with information on it is the audit planning page.
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The exchange rate for a stable country:
-remains the same unless there is political change.
-changes based on supply & demand
-is based on the U.S. Dollar.
-is based on gold.
Answers
Answer:
The exchange rate for a stable country:
Explanation:
The exchange rate of a stable economy changes based on the market forces of demand and supply. The demand and supply for a country's currency will be influenced largely by prevailing economic conditions in that country. Political and other social reasons will not affect the exchange rate of the country.
An increase or decrease of a country's products in the international market is one of the reasons for an increase or decrease in the demand for its currency.
commercial sports are most likely to grow and prosper in societies where opportunities to travel are limited, which forces people to engage in leisure activities close to home. group of answer choices true false
Answers
The given statement is false as commercial sports can grow and prosper in societies with both limited and abundant opportunities to travel.
The statement that commercial sports are most likely to grow and prosper in societies where opportunities to travel are limited is false.
While limited travel opportunities may contribute to a higher engagement in leisure activities close to home, it is not the sole determining factor for the growth and prosperity of commercial sports.
Commercial sports can thrive in societies with diverse factors that go beyond travel limitations. Several other crucial elements contribute to the success of commercial sports, including but not limited to:
Popularity and cultural significance: The popularity and cultural significance of sports within a society play a significant role in their growth and prosperity. This can be driven by factors such as historical traditions, media coverage, national pride, and fan support.
Infrastructure and facilities: Availability of well-developed sports infrastructure, including stadiums, arenas, training facilities, and recreational spaces, provides opportunities for athletes, teams, and spectators to participate and enjoy sports events.
Sponsorship and investment: Adequate financial backing through sponsorships, investments, and advertising helps in organizing and promoting commercial sports events. This funding can come from both local and international sources.
Media and broadcasting: Extensive media coverage and broadcasting rights contribute to the visibility and popularity of commercial sports. This allows fans to follow their favorite teams and athletes, regardless of travel limitations.
Competitive leagues and tournaments: The presence of well-structured leagues, tournaments, and championships attracts talented athletes, fosters competition, and creates fan interest. This, in turn, drives the growth of commercial sports.
While limited travel opportunities might encourage people to engage in local leisure activities, commercial sports can still thrive in societies with abundant travel opportunities.
Global sports events, international competitions, and the ability to travel to different locations can create excitement and further enhance the popularity and growth of commercial sports.
In conclusion, the growth and prosperity of commercial sports are influenced by a multitude of factors beyond travel limitations. Popularity, infrastructure, investment, media coverage, and competitive leagues all play crucial roles in shaping the success of commercial sports in a society.
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an individual is more likely to free ride when a good is:
Answers
An individual is more likely to free ride when a good is non-excludable.
Non-excludable goods are goods that are difficult to restrict access to, so one individual's consumption of the good does not reduce the amount available to others. This characteristic of non-excludable goods often leads to the phenomenon of free riding, where individuals may choose to consume the good without contributing to its production or provision, relying on others to do so instead.
Examples of non-excludable goods include public goods, such as national defense, parks and beaches, or clean air and water. These goods are typically provided by the government or other public institutions and are available to all citizens regardless of their contribution. The non-excludable nature of these goods creates a challenge for their financing and maintenance, as individuals may be incentivized to not contribute, knowing that they can still access the good even if others contribute.
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