The Goodwill is to be valued at two years' purchase of the last four years' average profit. The profits were R.O 40,000, R.O 32,000, R.O 15,000 and R.O 13,000 respectively. Find out the value of goodwill.
Q: - Questions On March 1, 2019, Baltimore Company's beginning work in process inventory had 10,000…
A: Step 1: Key InformationBeginning WIP inventory: 10,000 units (50% complete for conversion…
Q: Not use ai solution provide correct answer financial accounting
A: Step 1: Define Minimum Bid PriceIf a company has the opportunity to bid on additional, once-off…
Q: In the Crane Company, indirect labor is budgeted for $86,000, and factory supervision is budgeted…
A: Explanation of Flexible Budget:This is a dynamic budget that adjusts automatically for changes in…
Q: LM Enterprises produces a single part for sale. The part sells for $15.5 per unit. Fixed costs are…
A: Key InformationSelling price per unit: $15.50Fixed costs: $1,420,000 annuallyUnits produced and sold…
Q: Topaz Corporation had the following income and expenses during the current year: Revenues $80,000…
A: Step 1: Understand the Given InformationRevenues: $80,000Expenses: $30,000Gains on sale of capital…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Variable Overhead Efficiency VarianceVariable Overhead Efficiency Variance…
Q: Subject is General Account [05] On March 1, 2019, Annapolis Company has a beginning Work in Process…
A: Step 1: Equivalent Units of Production (EUP) for ConversionSince all units were started during the…
Q: Need help with this financial accounting question
A: Step 1: Define Sales RevenueSales revenue is the amount of goods or services sold by the business…
Q: Hello teacher please help me with this accounting questions
A: Step 1: Definition of Allocation RateThe allocation rate is the cost assigned to each unit of the…
Q: What is its ROE ?
A: The question requires the determination of the ROE. Return on equity (ROE) is a measure of a…
Q: Calculate Saturn's operating income using absorption costing?
A: Step-by-Step Solution:1. Sales RevenueSales Revenue=Units Sold×Selling Price Per UnitSales…
Q: Want answer
A: Explanation: Net income under variable costing will be calculated as = Net income under absorption…
Q: Beta manufacturing collected the following data solution general accounting question
A: To solve the problem using the high-low method, we will follow these steps: a. Estimating the fixed…
Q: Bell Inc. took a physical inventory at the end of the year and determined that $840,000 of goods…
A: To determine the correct inventory balance at the end of the year, we need to adjust the physical…
Q: Fuller Animal Feeds has developed the following data for lower-of-cost- or-market valuation for its…
A: 1. Applying LCM to Individual Inventory ItemsUnder this method, we compare the Cost and Market value…
Q: Kindly help me with accounting questions
A: Step 1: Define Variance AnalysisVariance analysis is the comparison of standard costs and the actual…
Q: The rate of return on assets for 2012 was ?
A: To calculate the rate of return on assets (ROA) for 2012, use the following formula: ROA = (Net Farm…
Q: I won't to this question answer general accounting
A: Step 1:The formula to calculate the asset-adjusted basis is as follows: Assets adjusted basis =…
Q: You are interviewing three people for one sales job. On the basis of your experience, you believe…
A: Step by step calculation:Mike's Efficiency:Sales per dollar = 600/200 = 3 units per dollar Jerry's…
Q: If 11 more dinners were sold?
A: Explanation of Variable Cost Per Unit:Variable cost per unit is the total of all costs that change…
Q: Alpha Company uses a process cost system. During 2017, Alpha had no beginning work in process…
A: To determine the equivalent units for direct materials in Alpha Company's process cost system,…
Q: I won't to this question answer general Accounting
A: Step 1: Define Net incomeThe total amount generated by an entity or firm in a certain period, less…
Q: On December 1, 2022, Oriole's Company Accounts Receivable balance was $19,720. During December,…
A: To calculate the Accounts Receivable balance on December 31, 2022, you can use the following…
Q: Mr. Husker's Tuxedos Corp. ended the year 2017 with an average collection period of 35 days. The…
A: Average Collection PeriodThe average collection period tells us the average number of days it takes…
Q: Please provide this question solution general accounting
A: Step 1:First, calculate the interest amount: Interest = Face value of note * Rate of interest *…
Q: What is the value of ending inventory using the variable costing method? General accounting
A: Step 1: Define Variable Costing MethodAs the name suggests, in the variable costing only the…
Q: Pinecrest construction worked on five project during
A: To calculate the overhead allocated to Project 503, we use the given overhead allocation rate, which…
Q: please solve Accounting question
A: Step 1:First calculate the cost of goods sold: Cost of goods sold = Sales - Gross profit…
Q: general accounting
A: Concept of Selling Price (SP): The selling price is the amount charged for each unit of the product…
Q: What is the gross profit margin?
A: Step 1: Define Gross Profit MarginGross profit margin is an important financial ratio that compares…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Direct Labor Efficiency VarianceDirect labor efficiency variance measures the…
Q: Don't use ai given answer general accounting questions
A: Step 1: Define Average Collection PeriodA company's time to collect its receivables balance is…
Q: Please solve this question general accounting
A: To find the number of units the company must sell to earn a profit of $178,500, we use the following…
Q: When the predetermined overhead rate is based on direct labor-hours, the amount of overhead applied…
A: Concept of Predetermined Overhead Rate (POHR):The predetermined overhead rate (POHR) is a cost…
Q: Hello tutor provide correct answer financial Accounting question
A: Step 1: Define Cost-Volume-Profit AnalysisCost-Volume-Profit Analysis is a cost accounting technique…
Q: On December 1, 2022, Oriole's Company Accounts Receivable balance was $19,720. During December,…
A: Explanation of Accounts ReceivableAccounts Receivable refers to the amounts a company is owed by…
Q: Don't use ai given answer accounting questions
A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: Differential Chemical produced 18,000 gallons of Preon and 39,000 gallons of Paron. Joint costs…
A: Given Data:Preon Production: 18,000 gallonsParon Production: 39,000 gallonsJoint Costs: $8,500Preon…
Q: Financial Accounting Question please answer
A: Step 1: Analysis of information providedAmount needed in future for tuition is $2,290 and time…
Q: General Accounting
A: Step 1: Income TaxWhen a monetary amount is paid by an individual or an organization on the total…
Q: Job H85 was ordered by a customer on September 25. During the month of September, Jaycee Corporation…
A: Explanation of Direct Materials:These are raw materials that can be directly traced to a specific…
Q: I need this question answer general Accounting
A: To determine the unit cost below which Power Serve Company should not bid for the government…
Q: General Account Subject Questions Answer it
A: Step 1: Key InformationSalary: $80,000.Gain on §1244 Stock: $20,000 (acquired two years earlier;…
Q: A company estimates that overhead costs for the next year will be $7,940,000 for indirect labor and…
A: To calculate the plantwide overhead rate, use the formula: Plantwide Overhead Rate = Total Estimated…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Net Sales RevenueNet sales revenue is the total revenue generated from sales…
Q: Northern Company has a process costing system using the weighted average cost flow method. All…
A: To calculate the equivalent units of production (EUP) for conversion costs using the weighted…
Q: I need this question answer general Accounting
A: To calculate the total amount Arturo will have to pay Cali in nine months, we first need to…
Q: Zorro Company has a delivery truck that is being sold after 5 years of use. The current book value…
A: Explanation of Book Value: Book value, also known as carrying value, represents the original cost of…
Q: None
A: Step 1: Identify the formula Step 2: Input the values Step 3: Subtract the Standard Deduction from…
Q: What is the beginning and ending amounts?
A: To calculate the beginning and ending amounts of equity, we can use the basic accounting equation:…
Hello tutor please given correct answer general Accounting
Step by step
Solved in 2 steps
- An asset costs $19,000. At a depreciation rate of 20 percent, calculate its book value using declining-balance method. a. After one year b. After two years c. After six years a. The book value after one year is $ . (Round to the nearest dollar as needed.)Consider an asset with a cost basis of $10,000 that has been depreciated using 100% bonus depreciation. What is the gain or loss if the asset is disposed of after 5 years of operation for (a) $7000, (b) $0, and (c) a cost of $2000?The following present value factors are provided for use in this problem. Periods Present Value of $1 at 8% Present Value of an Annuity of $1 at 8% 1 0.9259 0.9259 2 0.8573 1.7833 3 0.7938 2.5771 4 0.7350 3.3121 Xavier Company wants to purchase an asset for $37,000 with a four-year life and a $1,000 salvage value. Xavier requires an 8% return on investment. The expected year - end net cash flows are $12,000 in each of the four years. What is the machine's net present value (round to the nearest whole dollar)?
- Consider an asset with upfront cost of $12,210. The cost associated with it during the first year of operation is $6,526. The cost associated with it during the second year of operation is $10,861. With an interest rate of 0.03, what is a levelized cost payment payable at the end of years 1 and 2, which has the same present value as the actual cost stream at the end of period 0. The annuity formula for an interest rate of 0.03 and t payments is given by (1+i)* 1-(1+i) t =The MACRS depreciation allowances on 3-year property are 33.33%, 44.45%, 14.81%, and 7.41%, respectively. What is the amount of the depreciation for Years 1, 2, and 3 for a 3-year property with an initial cost of $64,000?If the EBIT for the year is $5000, depreciation is $1000 and the tax rate is 20%. Further CA on Dec. 31st were $1500 and the CL were $700. On Jan. 1st the CA were $1000 and the CL were $800. The value of Future Assets on Dec.31st was $3000 and on Jan.1st was $5000. Find the CFA.
- An asset with a purchase price of $501,013 falls in the 3-year MACRS asset class. The asset will be sold at the end of a three year project for $180,745. What is the book value of the asset at the end of the project? Round your answer to the nearest dollar. Year Depreciable Allowance 1 33% 2 45 3 15 4 7If an asset book-depreciates by the DDB method over a 10-year period, how long will it take to reach its salvage value if the estimated salvage is 20% of the first cost? Remember, assets can continue to depreciate after they have reached their salvage value.A company purchases an asset for P10,000.00 and plans to keep it for 20 years. If the salvage value is zero at the end of the 20th year, what is the depreciation in the third year? Use the sum of the years digit method.
- An asset is purchased for Php50,000. The salvage value in 25 years is Php100,00. What are the depreciation in the first three years using straight line method?Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?A truck was purchased for $58,000 and depreciates $6560 per year. Suppose that the vehicle is depreciated so that it holds 60% of its value from the previous year. Write an exponential function of the form =yV0bt , where V0 is the initial value and t is the number of years after purchase.
