Nine Question 7. Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as outstanding accounts receivable if Company Z has atotal sale of $1,800,000 of which $200,000 are cash sales and the beginning and ending accounts receivable balances are $30,000 and $50,00o,respectively.11.40 daysO 9.13 days6.84 days8.11 days8. Mr. D recently manufactured a product that will be introduced to the market next year. The unit cost is $210. Mr. D wishes to achieve a margin of 25%based on sales. How much would Mr. D sell the product for?$262.50O $280.00$367.50$250.009. The sole proprietorship business of Individual M purchased a machinery amounting to $30,000. The machinery is expected to be useful for a period of4 years and have a residual value of $5,000. Individual M uses the double-declining method in depreciating their fixed assets. How much would be thedepreciation expense for year 3?O $3,750.00$2,500.00$7,500.00$1,250.0010. The amortization of premium on bonds payable willthe net income.increasedecreasenot affectoffset

Depreciation is the fall in the value of fixed assets due to normal wear and tear, accident, the…

9. The sole proprietorship business of Individual M purchased a machinery amounting to $30,000. The machinery is expected to be useful for a period of 4 years and have a residual value of $5,000. Individual M uses the double-declining method in depreciating their fixed assets. How much would be the depreciation expense for year 3? $3,750.00 $2,500.00 $7,500.00 $1,250.00

9. The sole proprietorship business of Individual M purchased a machinery amounting to $30,000. The machinery is expected to be useful for a period of 4 years and have a residual value of $5,000. Individual M uses the double-declining method in depreciating their fixed assets. How much would be the depreciation expense for year 3? $3,750.00 $2,500.00 $7,500.00 $1,250.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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