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Exercise 2) Depreciation:The following data for a machinery is available:Purchase price (incl. 20%VAT) 360 000 EURSalvage value (excl VAT) 10 000 EURuseful life 7 years(=estimated service life)production capacity 580 000 hours1st year: production (2006) 120 000 hours2nd year: production (2007) 160 000 hours3rd year: production (2008) 130 000 hours4th year: production (2009) 80 000 hours5th year: production (2010) 50 000 hours6th year: production (2011) 40 000 hours7th year: production (2012) 30 000 hoursa) Calculate the straight-line depreciation. (straight-line method)b) Calculate the depreciation based on the activity method.c) What other depreciation methods do you know?d) Calculate the depreciation for 2006 and the book value (31.12.2006) in accordance with the Austrian (taxation) regulations (straight-line) if the machinery has been purchased at 30 May 2006.e) Calculate the depreciation for 2006 and the book value (31.12.2006) in accordance with the Austrian (taxation) regulations (straight line) if the machinery has been purchased at 5 August 2006.

Answera. Straight LineDepreciation(EUR) = Year2006200720082009201020112012 ( Cost – Salvage Value)/ Yearslife( 360000-10000)/7Cum. BookDepDepValue3100050000 50000 010000 26000…

 
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Exercise 2-12 B.Allocating Manufacturing Overhead to Jobs Webber Fabricating estimated the following annual costs.$ 625,00020,000800,000$1,000,000Requiredb. Determine the cost of the following job (number 253)using each of the four overhead allocation rates.

 
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i I cannot understand some items of the answer, can you please explain for me, thank you so much.

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Exercise 18.14, 1. 848Some of the most recent financial statements for Barium Pty Ltd are shown below :`HYLAND PTY LTDComparative Statements of Financial Positionas at 30 June2020ASSETS2021Cash at bankAccounts receivable*$ 56 000$ 3600068 000Inventory192 000Sales equipment22120 000Accumulated depreciation – sales equipment4 000Land( 36000 )( 60 000 )160 00080 000Buildings240 000240 000Accumulated depreciation – buildings( 12000 )( 20 000 )LIABILITIES AND EQUITY$720 000$712 000Accounts payableBank overdraft$ 96000$ 104 00040 000Equity584 0.00608 000$720 0.00$712.000HYLAND PTY LTD{ Income Statementfor the year ended 30 June 2021Sales revenue*Expenses :$360 000Cost of sales:"Beginning inventory$ 192 000Purchases224 000$16000Ending inventory224 0.00$192 000Depreciation – sales equipmentDepreciation – buildings28000Other expenses ( paid in cash )8000Loss on sale of land80 000Loss on sales of equipment16000Profit12.0003:36.000$24 0.00Additional information*( a ) All purchases and sales of inventories are on credit!`( b ) On 1 July 2020 , the shareholders injected a further capital contribution of $ 28 0.00 cash intothe business .ACCT 5023 Financial Accounting _ Preparation Question Solutions _ Topic SPage 8 of 10

 
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Exercise 17-13: Political Viewpoints

17-13, 24-10

The 2004 General Social Survey asked a

random

sample of 1309 American adults to report

their political viewpoint as liberal, moderate,

or conservative. The number who classified

themselves as moderate was 497.

a. Can you determine whether or not more

than one-third of the sample consider

themselves to be political moderates? If

so, answer the question. If not, explain

why not.

b. Suppose that one-third of the population

consider themselves to be political moderates.

What then would be the probability that 497

or more in a random sample of 1309 people

would call themselves political moderates?

[Hint: Answer this question by determining the

p-value of the relevant test.]

c. How would you expect the p-value to change if

the sample had contained 327 people, of whom

124 called themselves political moderates?

Explain. [Hint: Note that the sample size and

number of moderates have been reduced by a

factor of four.]

d. Determine the p-value based on the sample

data in part c. Was your answer to part c

correct?

 
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I’m getting this answer partially incorrect please explain 

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Pretax Accounting income (given) 810,000 less muncipal interest revenue -10,000 Pre tax accounting income subject to tax 800,000 Temporary differenceinstallment income(taxble when collected)…

 
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Please explain the steps to this problem. Not sure why the income is wrong as well.

Exercise 16-20Your answer is partially correct . Try againOn January 1 , 2017 , Swiftyifty Industries had stock outstanding as follows/ Cumulative preferred stock , $190 par value , issued and outstanding 9 100 shares $910 ,090Common stock , $10 par value , issued and outstanding 185 000 shares1 860 000To acquire the net assets of three smaller companies , Swifty authorized theissuance of an additional 160 800 common shares . The acquisitioncquisitions took place as shown belowDate of AcquisitionShares IssuedCompany A April 1 , 201750 400Company B July 1 201779. 200Company C October 1 , 201731 200On May 14 , 2017 , Swifty realized a $86 400 ( before taxes ) insurance gain on discontinued operatOn December 31 , 2017 , Swifty recorded income of $289 200 from cantinuing operations ( after tax )Assuming a 50 % tax rate , compute the earnings per share data that should appearould appear on the financial statements of Swifty Industries as of December 31 , 2017 . ( Round answer to 2 decimal places , e.g$2.55. )For the Year Ended December 31 , 2017income From Continuing Operations289200Loss From Discontinued OperationsNet Income / ( Loss )Day

 
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Jacobsen Leasing Company leases a new machine that has a cost and fair value of $60,800 to Stadler Corporation on a 3-year noncancelable contract. Stadler Corporation agrees to assume all risks of normal ownership including such costs as insurance, taxes, and maintenance. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2013. Jacobsen Leasing Company expects to earn a 8% return on its investment. The annual rentals are payable on each December 31.Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved.

 
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Northwest Company produces two types of glass shelving, rounded edge and squared edge, on the same production line. For the current period, the company reports the following data.Total$62,20036,000Overhead(300% of direct labor cost)36,000 71,400 108,000________$206,200 __________10,500 ft. 14,100 ft. $9.82Northwest’s controller wishes to apply activity-based costing (ABC) to allocate the $108,000 of over head costs incurred by two product lines to see whether cost per foot would change markedly from that reported above. She has collected the following information.Overhead Cost category (Activity Cost Pool) Cost$5,40056,60046,000_______$108,000______________________________________________________She has also collected the following information about the cost drivers for each category(cost pool)and the amount of each driver used by the two product lines.Usage _______________________RoundedEdge SquaredEdge TotalSupervision.DirectLaborcost($) $12,200 $23,800 $36,000Depreciation of machinery. Machine Hrs. 500Hrs.1500Hrs.2,000HrsAssembly line preparation..Setups(#) 40times 210times 250times________________________________________________________Use this information to (1)assign these three overhead cost pools to each of the two products using ABC,(2) determine average cost per foot for each of the two products using ABC, and (3)compare the average cost per foot under ABC with the average cost per foot under the current method for each product. For part 3, explain why a difference between the two cost allocation methods exists.

 
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Learning Objective 21-4 EXERCISE 21-15Cost of goods sold budgetYou may use the attached spreadsheet to complete this activity. You will find the spreadsheet by clicking on the paper clip found in the upper left hand corner of the screen.Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. Dover purchased 30,000 barrels of oil in June for $28 per barrel. Direct labor used in the chemical process was $150,000 for June. Factory overhead was budgeted $275,000 during June. The inventories on June 1 were estimated to be:The desired inventories on June 30 were:Use the information to prepare a cost of goods sold budget for June.After preparing a cost of goods sold budget for June on the attached spreadsheet, give the following amounts:Item

 
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Using FANBOYS (for, and, nor, but, or, yet, so) to answer these questions

.., .. Exercise 2: Paragraph Completion——-__-‘———’_—’_————_—-«-——-———________—-_ Complete the passage from the National Institutes of Health (201 1 b) with conjunctions and sentenceconnectors from Table 2.1. Weighing In on Dietary Fats:Some Fats Are Healthier Than Others Q___ the winter holidays arrive, you’ll likely be surroundedby family. friends. and plenty of good food. Many of these foods,o_.___. can be high in fat. 9____ you learn which fats arenaughty and which are nice to your health. 9%“ you can makesmarter food choices. We need a certain amount of fat in our diets to stay healthy. Fats provideneeded energy in the form of calories, o______ they help our bodiesabsorb important vitamins, @_ Vitamins A, D. and E. Fats0______ make foods more flavorful and help us feel full. Fats aree5pecia|ly important for infants and toddlers @___ dietary fatcontributes to proper growth and development. Problems arise, 0___. from eating too much fat 0eating the wrong kinds of fats. Unsaturated fats are considered “good" fats.These can promote health o_____ eaten in the right amounts. Theyare generally liquid at room temperature @__.__ are known as oils. temperature. , "bad” saturated fats and trans fats tend to be solid at room

 
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