on January 1, Year 1, Pell Corp. purchased a machine having an estimated useful life of 10 years and no salvage. The machine was depreciated by the double declining balance method for both financial statement and income tax reporting. on January 1, Year 6, Pell changed to the straight-line method for financial statement reporting but not for income tax reporting. Accumulated depreciation at December 31, Year 5, was $560,000. If the straight-line method had been used, the accumulated depreciation at December 31, Year 5, would have been $420,000. Pell's enacted income tax rate for Year 6 and thereafter is 30%. The amount shown in the Year 6 income statement for the cumulative effect of changing to the straight-line method should be: ___________

a. $98,000 debit.
b. $98,000 credit.
c. $140,000 credit.
d. $0.

Answers

Answer 1
Correct Answer: D

Explanation:

Choice "d" is correct. A change in the method of depreciation is now considered to be both a change in method and a change in estimate. These changes should be accounted for as changes in estimate and handled prospectively. The new depreciation method should be used as of the beginning of the year of change and should start with the current book value of the underlying asset. No retroactive or retrospective calculations should be made, and no adjustment should be made to retained earnings.
And, certainly, the cumulative effect should not be reflected on the income statement any more. Choices "a", "b", and "c" are incorrect, per the above Explanation: .

Related Questions

Which information is found on a credit report?
CO
FE
O grade point average
O list of schools attended
o names of family members
o credit account history

Answers

The correct answer is credit account history! I hope this helps! Plz give brainliest!

the difference between a budget and a standard is that:

Answers

Answer:

A budget is a total amount, while a standard expresses only a unit amount.

Explanation:

Why do some firms, industries, and cultures have different CSR thresholds than others? Illustrate your answer with real examples for all three categories.

Answers

Some firms, industries and cultures have different corporate social responsibility (CSR) thresholds than others due to differences in the operating area, level of business complexity and legal and cultural differences between countries.

Corporate social responsibility is an increasingly growing requirement in today's society, which considers organizations to be institutions that promote social and environmental development.

CSR types can be:

PhilanthropyPreservation of the environmentDiversity and Work PracticesVolunteering

Therefore, each company will identify the best strategy to implement CSR in its processes, in order to create value for stakeholders, increase employee satisfaction, be more competitive and positioned in the operating market.

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what country is home to the world’s oldest continuously-operating business?

Answers

Answer:

Japan is the home to the worlds oldest operating Bush

TELL ME THE WAY TO THE EXIT (I NEED TO KILL ALL THE COCKROACHES

Answers

Answer: corner

Explanation:

The effects of tariffs and quotas are: a(n) __________ in consumers' surplus, and a(n) __________ in producers' surplus.

Answers

Answer:

decrease; increase

Explanation:

What is a line extension?

Answers

search it up and find the answer

3. Lesley bought 4 bags of pretzels and 2 boxes of granola bars for $13.50. Landon bought 1 bag of pretzels and 5 boxes of granola bars for $17.55. What is the cost for one bag of pretzels? What is the cost for a box of granola bars?

Answers

Answer:

Problem 3: Let x = price of bag of pretzels Let y = price of box of granola bars  

We have Lesley's purchase: 4x+2y=13.50

And Landon's: 1x+5y=17.55

We can use the elimination method. Let's negate Landon's purchase by multiplying by -1. -1x-5y=-17.55

We add this four times to Lesley's purchase to eliminate the x variable.

2y-20y=13.50-70.2

-18y=-56.7

y = $3.15 = Price of box of granola bars

Plug back into Landon's purchase to solve for pretzels.

x+5*3.15=17.55

x+15.75=17.55

x = $1.80 = price of bag of pretzels

 

Problem 4.

Let w = number of wood bats sold

Let m = number of metal bats sold

From sales information we have: w + m = 23

24w+30m=606

Substitution works well here. Solve for w in the first equation, w = 23 - m, and plug this into the second.

24*(23-m)+30m=606

552-24m+30m=606

6m=54

m=9 = number of metal bats sold

Therefore since w = 23-m, w = 23-9 = 14. 14 wooden bats were sold.

Explanation:

Answer:

1=1 2+2=4 so lesley gas many ptretzels ans granola bars =mc square

Explanation:

A grid-based layout commonly used in website design is called what?

A. Rebus

B. Mondrian

C. Circus

D. Sihouette

Answers

A grid-based layout that is commonly used in the design of a website is called: B. Mondrian.

A website can be defined as a collective name that is used to describe series of webpages that are linked together with the same domain name. Also, all website are hypertext markup language (HTML) documents that contains codes, tags, image, audio, and video files, inserted to make them responsive and interactive with end users.

In Web design, a grid serves as an underlying structure upon which the layout of a website is built. The most commonly used grid-based layout for the design of a website is called Mondrian.

Mondrian is a grid-based layout that can be used to divide spaces on a website into clear sections, in order to enable the smooth navigation and transition of webpages and its contents.

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Fancy Nails cost formula for miscellaneous expenses is $30 per operating day plus $0.25 per client served. Fancy Nails' miscellaneous expense budget in a month when the business is going to be open for 25 days and they expect to serve a total of 2,400 clients is $______. (Enter your answer as a whole number.)

Answers

Answer:

2430.25

Explanation:

I hope it helps you

Based on the rate for the miscellaneous expenses,  Fancy Nails' miscellaneous expenses for 25 days is $1,250.

What are the miscellaneous expenses for 25 days?

Given the cost formula, the miscellaneous expenses will be:

= (Cost per operating day x Number of days) + (Cost per client x number of clients)

Solving gives:

= (30 x 25) + (0.25 x 2,000)

= 750 + 500

= $1,250

In conclusion, Fancy Nails will have miscellaneous expenses of $1,250.

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a company that offers services for accessing and using the internet is

Answers

Answer:

An Internet service provider (ISP) is an organization that provides a myriad of services for accessing, using, or participating in the Internet.

Click this link to view O*NET’s Work Context section for Licensing Examiners and Inspectors. Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. According to O*NET, what are some common work contexts for Licensing Examiners and Inspectors? Select four options.

in an open vehicle
telephone
face-to-face discussions
wear specialized safety equipment
contact with others
importance of being exact or accurate

Answers

Answer:

A, C, E, F

Explanation:

Answer:

B, C, E, F

Explanation:

reer

Olivia asks several real estate agents to help her sell her house. A buyer is found. At the closing, no agent receives a commission. What type of listing agreement did Olivia make

Answers

Answer: Open Listing

Explanation: The seller sold the real estate herself therefore she did not have to pay a commission.

What is the price at which equilibrium is achieved? $8 $9 $10 $30.

Answers

The equilibrium of the demand and supply can be achieved at a price of $9.

What is the equilibrium position?

The equilibrium is the position in the market where the demand curve and the supply curve intersects with each other at a particular point of price. At the point of equilibrium the quantity supplied and the quantity demanded are the same.

As per the graph, the demand curve shows the quantity demanded in the market at various prices in dollars while the supply curve shows the prices at which each quantity is supplied in the market.

Therefore, after examining the graph the point of intersection is at the point having the Dollar price of 9.

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If you were reading sales literature about a mutual fund that claimed its objective is to be a single source investment for most equity investors, it would most likely be describing

Answers

Since the literature claimed that the objective of the mutual fund is to be a single source investment for most equity investors, then, it would most likely be describing a short-term investment

Basically, the mutual fund is classified as a short-term investment because of its duration.

Since the literature claims mutual fund is a single source investment for most equity investors, it hows that it is a short-term investment because the fund are usually purchased for less than say 3 years.

In conclusion, the literature would most likely be describing the mutual-fund as a short-term investment

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Grace is a very ethical person and is good at her job. She works hard and always stays long hours at her office in Washington DC. Grace has worked her job diligently for the last four years, but has now lost it and needs to look for something else to do. She is not worried, however, because this is typical for her career and has happened to her before. What most likely describes why Grace lost her job? Grace was appointed to her job by a political party that was no longer in power. Grace was fired for failing to perform at work. Grace was fired for not behaving appropriately at work. Grace was appointed to her job and decided to look for other work within the field.

Answers

Considering the situation described above, the statement that most likely explains why Grace lost her job is "Grace was appointed to her job by a political party that was no longer in power."

This is because Grace was said to be working in Washington, D.C., the capital of the United States, where political jobs are abundant.

Also, since she worked for four years before losing the job, that implies the tenure of the political party that appointed her elapsed.

Similarly, given that she is not worried about her situation, and it's typical of her career, she knows when her political party comes back to power, she will get a job again

Hence, in this case, it is concluded that the correct answer is option A. "Grace was appointed to her job by a political party that was no longer in power."

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In the situation given above, Grace has lost her job because she was working in a political party that is no longer in power.

What did Grace's unemployment show?

Grace is working in Washington, DC. It is the capital and political with plenty of political jobs.

Grace has been working diligently for the last 4 years and never faced any complaints and worked ethically.

Grace has now lost her job and she is not worried because it is typical in this kind of job, and she knows when the political party will be in power, she will gain her job back.

Thus, the correct answer is Option A, Grace was appointed to her job by a political party that was no longer in power.

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The qualitative characteristic of using the same accounting method each period over time refers to the concept of

Answers

I’m not sure try looking it up

sorenson’s march 2020 video for marriott employees exhibited characteristics of ________ leadership.

Answers

The sorenson’s video for marriott employees exhibited characteristics of commanding leadership style.

Arne Morris Sorenson is an American hotel executive and served as the hotel president and chief executive officer.

Sorenson's style of leadership entails combination of empathy, personal warmth and iron principle attracted deep admiration throughout the corporate world.

Therefore, the sorenson’s video for marriott employees exhibited characteristics of commanding leadership style.

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Betsy loves to garden, and her rose garden is enjoyed by everyone in her neighborhood. Because her consumption of rosebushes provides a positive externality to the community, the government should _____ because the market quantity of rosebushes is _____ than the socially optimal quantity.

Answers

Answer:

Provide a Subsidy; Lower

Explanation:

Maria has started a lawn care service about a year ago. She did
good work and her customers spread the word. Sales are
increasing quickly! What stage of the product life cycle is
described in this example?
O Introduction
O Growth
O Maturity
O Decline

Answers

I believe it’s growth

Answer:

your answer to this i belive would be growth

Explanation:

Warmup- if you was an agent what 2 sports
you would manage and why?

Answers

Football and baseball because those are my favorite sports

which is one advantage of private insurance offered by most employers

Answers

Advantages of an employer plan: Your employer often splits the cost of premiums with you. Your employer does all of the work choosing the plan options. Premium contributions from your employer are not subject to federal taxes, and your contributions can be made pre-tax, which lowers your taxable income.

Answer: A managed care plan that keeps costs low

Explanation:

I took the test

A project's break-even occupancy level is determined by: _______________

a. adding vacancy and rent loss allowances to the net operating income, and dividing by the operating expenses.
b. subtracting debt service from the before-tax cash flow, and dividing by net operating income.
c. adding the operating expenses to the debt service, and dividing by the gross potential revenue.
d. subtracting operating expenses from effective gross income, and dividing by the operating expense ratio.

Answers

Answer:

a. adding vacancy and rent loss allowances to the net operating income, and dividing by the operating expenses.

if a client would receive virtual currency as a gift, what would the client use as their basis for reporting purposes?

Answers

Based on the information given, it should be noted that the basis of reporting for the virtual currency is D. None of the above.

A virtual currency simply means a digital representation of value available in electronic form. This is usually transferred in a software.

From the complete question, it should be noted that the basis of reporting for the virtual currency is None of the above. It's neither, today's cost, donor basis, or fair market value.

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1. The current exchange rate between the Japanese Yen and the US Dollars is 80:1. If a new
3D TV set in Tokyo costs 80,000 yen, how many US Dollars would you need to purchase the
TV?

Answers

Answer:

1,000 US dollars

Explanation: 80,000 divided by the 80-1 ratio would equal 1000$

80,000/80=1000    

The current exchange rate between the Japanese Yen and the US Dollars is 80:1.  You would need 1,000 US dollars to purchase the TV.

What is exchange rate?

The price at which one currency will be traded for another is known as the exchange rate. Most often, currencies are national ones, but they can also be supra-national ones like the euro or sub-national ones like Hong Kong.

The rate at which one currency will be exchanged for another is known as the exchange rate. Some exchange rates are linked or fixed to the value of a particular country's currency, however most exchange rates are floating and will increase or decrease depending on market supply and demand.

You would need 1,000 US dollars to purchase the TV.

80,000 divided by the 80-1 ratio =  1000$

80,000/80=1000    

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#SPJ2

Explain how market research is different than marketing.

Answers

Answer:

Although both involve consumers, Marketing research is concerned specifically about marketing processes, such as advertising effectiveness and salesforce effectiveness, while market research is concerned specifically with markets and distribution.

Explanation:

What is political environment in a business? Please help

Answers

Political environment is the state, government and its institutions and legislations and the public and private stakeholders who operate and interact with or influence the system.

Consider the different steps of the Waterfall and Agile project management approaches and consider the benefits of each one. Then, reflect on a project that you recently completed. Write 5-10 sentences on which approach you would use choose if you were starting it from scratch, and why. ​

Answers

The waterfall project management approach aims to make the project flow continuous through the phases:

Requirements analysisProjectImplementationIntegrationVerificationMaintenance

In the Agile approach, there are four fundamental principles for creating value, which are:

Individuals and interaction about processes and tools.Job software with comprehensive documentation.Customer collaboration in contract negotiation.Responding to change by following a plan.

The benefits of each of these management approaches are to generate value in the internal and external environment, through greater adaptation to rapid social, economic and technological demands, and through the improvement of quality.

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Ming made a car insurance payment of $122. 50. He’ll use the check register to record his transaction. What will be his new balance? An account statement has a balance of 802 dollars and 10 cents. $.

Answers

Based on the information given the new balance is $679.60.

Using the formula

New balance=Account statement balance-Insurance payment

Where:

Account statement balance=$802.10

Insurance payment=$122.50

Let plug in the formula

New balance=$802.10-$122.50

New balance=$679.60

Inconclusion the new balance is $679.60.

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A corporation issues for cash $8,000,000 of 20-year, 8% bonds, interest payable semiannually. The amount received for the bonds will be:

a. the present value of $8,000,000 to be repaid in 20 years, less the present value of 40 semiannual interest payments of $320,000.
b. the present value of 20 annual interest payments of $640,000, plus the present value of $8,000,000 to be repaid in 20 years.
c. the present value of 20 annual interest payments of $640,000.
d. the present value of 40 semiannual interest payments of $320,000, plus the present value of $8,000,000 to be repaid in 20 years.

Answers

Answer: D

Explanation: $8,000,000 was issued (sold) for cash. It has a 20-year maturity rate and interest is paid semiannually, meaning June 30 and December 31.

$8,000,000 x 0.08 = $640,000

$640,000/2 = $320,000

Keep in mind when a corporation issues bond to another entity, that entity has to repay the amount that was issued in bonds, plus the interest. Answer choices A, B, and C are out. The best choice is D which makes absolute sense since 20-year x 2 = 40 payments of $320,000 which gives $12,800,000. That's $4,800,000 in interest that the corporation is receiving for taking the risk of issuing the entity the $8,000,000 bonds for cash. The best choice is D.

Hope this explanation helps.

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