Greg Maddox Company constructed a building at a cost of $2,200,000 and occupied it beginning in January 2001. It was estimated at that time that its life would be 40 years, with no salvage value. In January 2021, a new roof was installed at a cost of $300,000, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of the old roof was $160,000. Instructions a. What amount of depreciation should have been charged annually from the years 2001 to 2020? (Assume straight-line depreciation.) b. What entry should be made in 2021 to record the replacement of the roof? c. Prepare the entry in January 2021 to record the revision in the estimated life of the building, if necessary. d. What amount of depreciation should be charged for the year 2021?
In: Accounting
What are the cost of overregulation and underregulation of equity markets? the solution I found on Chegg does not really explain anything
In: Finance
Depletion
A coal mine was acquired at a cost of $1,500,000 and estimated to contain 6,000,000 tons of ore. During the year, 100,000 tons were mined and sold. Prepare the journal entry for the year's depletion expense. If an amount box does not require an entry, leave it blank.
A silver mine was acquired at a cost of $3,000,000 and estimated to contain 750,000 tons of ore. During the year, 125,000 tons were mined and sold. Prepare the journal entry for the year's depletion expense. If an amount box does not require an entry, leave it blank.
Prepare the entries using a general journal.
there are 2 entries per journal
In: Accounting
How to make better decisions in determining. cost of cars depending on their characteristics, and the demands on most cars depending on safety, price, features, etc. Write minimum of 150 words report to the management (manufacturer) on automobile demand and automobile characteristics. Include how buyers numbers increase when the car is lower price but better features.
In: Operations Management
Illustrate and explain your understanding from Time-Cost tradeoff Scheduling?
In: Operations Management
In: Accounting
In a random sample of four microwave ovens, the mean repair cost was $85.00 and the standard deviation was $12.00. Assume the population is normally distributed and use a t-distribution to construct a 99% confidence interval for the population mean mu. What is the margin of error of mu? Interpret the results. The 99% confidence interval for the population mean mu is?
In: Math
A student planning a career in management wondered why it was important to learn cost and management accounting. How would you respond? Give some examples to support your point of view.
In: Accounting
1- Your firm is has equity of $2,460,000.00 and debt of $1,480,000.00 and the cost of the equity is 11.70% and the cost of the debt is 6.60%. Given that the tax rate is 15.00%, what is your firm's weighted average cost of capital (WACC)? (enter your value as a percent (i.e. 20.5 for 20.5%) tolerance is 0.1)
2- Your firm is has equity of $2,270,000.00 and debt of $4,060,000.00. The firm has been estimate to have a beta of 1.50 and the expected market risk premium (MRP) is 4.72% with the risk-free rate at 3.58%. The firm just recently issued bonds which traded at $905.58 on it's issue date and they have a 10-year maturity (assume standard corporate bonds). The stated rate on the bonds was 3.60%. What is your firm's weighted average cost of capital (WACC) if the tax rate is 30.00%? (enter your value as a percent (i.e. 20.5 for 20.5%) tolerance is 0.1)
In: Finance
Payback: Quebec Ltd is purchasing machinery at a cost of $4,424,766. The company expects, as a result, cash flows of $751,751, $1,196,086, and $2,756,146 over the next three years. The payback period is
years.
(Round your answer to 2 decimal places. All
intermittent calculations should be rounded to 4 decimal places
before carrying to next calculation.)
In: Finance