The following information is available on a depreciable asset owned by Mutual Savings Bank:. Purchase dateJuly 1, Year 1
Purchase price$78,100
Salvage value$10,900
Useful life8 years
Depreciation methodstraight-line
The asset's book value is $61,300 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $5,900 rather than the original estimate of $10,900. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:.
a. $4,616.67
b. $2,554.17
c. $2,308.33
d. $1,854.17
e. $2,241.37
A total asset turnover ratio of 3.0 indicates that:
For every $1 in sales, the firm acquired $3.0 in assets during the period.
For every $1 in assets, the firm produced $3.0 in net sales during the period.
For every $1 in assets, the firm earned gross profit of $3.0 during the period.
For every $1 in assets, the firm earned $3.0 in net income.
For every $1 in assets, the firm paid $3.0 in expenses during the period.

Answer and Explanation:

The computation of the depreciation expense under the straight-line method is shown below:

= (Purchase cost - residual value) ÷ (Remaining life left)

= ($61,300 - $5,900) ÷ ( 8 - 2)

= $55,400 ÷ 6 years

= $9,233.33

Now for the six months it would be

= $9,233.33 × 6 months ÷ 12 months

= $4,616.67

The asset turnover is the turnover that comes by dividing the revenue from the average of the total assets

Here as per the given option the second option is correct as it correctly represents the asset turnover

step 1: create a plan

step 2: inventory facility equipment/assets

step 3: create preventive maintenance procedures

step 4: create preventive maintenance schedules

step 5: train your maintenanceteam

step 6: analyze – adjust - improve

or

step 1 – pm procedure design: doing the effective things

step 2 – pm procedure scheduling: efficient use of people and resources

step 3 – pm lubrication engineering

step 4 – pm training: back on the chain gang

step 5 – pm program management plan

step 6 – communicate, communicate, communicate

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know