Answer:
Annual depreciation= $32,812.5
Explanation:
Giving the following information:
The equipment cost $200,000 and had an estimated life of 8 years and a salvage value of $25,000.
<u>To calculate the annual depreciation expense, we need to use the following formula:</u>
Annual depreciation= 2*[(book value)/estimated life (years)]
2015:
Annual depreciation= 2*[(200,000 - 25,000) / 8]
Annual depreciation= $43,750
2016:
Annual depreciation= 2*[(175,000 - 43,750) / 8]
Annual depreciation= $32,812.5
Innovation is the correct answer to this question.
Debts that will be paid off in less than a year are those that are categorized as current liabilities.
<h3>What are debts?</h3>
A party, the debtor, is obligated by debt to pay another person, the creditor, money or another agreed-upon value. Debt differs from an immediate purchase in that it requires a deferred payment or series of payments.
The debt may be due to a sovereign state or nation, a local government, a business, or a person. The quantity and timing of principal and interest repayments on commercial debt are often governed by contractual agreements.
Debt comes in many forms, including loans, bonds, notes, and mortgages. Debt is a sort of financial transaction in financial accounting, as opposed to equity.
Learn more about debts, from:
brainly.com/question/27954015
#SPJ1
Answer:
E)a,b,and c
Explanation:
A balance sheet is among the three main financial statements prepared by a business at the end of a period. It displays the assets of a company on one side and liabilities and equity on the other. The preparation of the balance sheet follows the accounting equation of assets equal to liabilities plus equity.
The balance sheet shows the net worth of a company by showing the total value of the firm's assets and how the assets have been financed. It indicates the current value of assets and tracts changes from period to another. The balance sheet will also indicate current liabilities and compares them to the previous period.