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Vadim26 [7]
3 years ago
6

Pizzicletta Pizza Shop purchased a stone pizza oven on January 1, 2018. The oven cost $50,000 and has an estimated salvage value

of $10,000. Using the straight-line method of depreciation, annual depreciation expense is computed as $8,000. What is the balance in the Accumulated Depreciation account at the end of 2020 (end of year 3)
Business
1 answer:
AlexFokin [52]3 years ago
8 0

Answer:

Accumulated depreciation= $24,000

Explanation:

Giving the following information:

Using the straight-line method of depreciation, annual depreciation expense is computed as $8,000.

Under the straight-line depreciation method, the annual depreciation remains the same during the useful life.

Accumulated depreciation= annual depreciation*number of years

Accumulated depreciation= 8,000*3= $24,000

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Late on summer clothing store managers realize they have many more bathing suits in stock than they can normally expect to sell
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3 years ago
Karin Company's loan is due on July 1, 2018. What conditions must Karin meet (at a minimum) so that the note can be classified a
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8 0
3 years ago
Alfred lost his 3-year-old camera. It cost him $150 three years ago and had a life expectancy of 6 years. Alfred has actual cash
salantis [7]

Answer:

insurance company will pay $75 to Alfred.

Explanation:

given data

Actual cost of camera = $200

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solution

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Remain life of camera = 6 years  - 3 years

Remain life of camera = 3 years

and

now we get here current cost of the camera that is

current cost of camera = Alfred cost of camera × (Remain life of camera ÷ Life expectancy)    ........................1

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5 0
3 years ago
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