Answer: $170,000
Explanation:
According to the historical cost concept, the original cost value of a asset (i.e. land) should be recorded in the books. The original cost refers to the cost of a asset at the time of purchasing. As per the principle of historical cost, assets are always recorded as a original cost or historical cost or acquisition cost.
But when a person sold the asset then he will consider the fair market value.
The answer to this question is :<span>decrease, increase
When Demand decreases, it indicates that consumer now is less willing to buy that certain products.
This unwillingness will started to drives the price down. During this period, Sellers will start to create more effort to sell the remaining products so they could obtain the highest price possible</span>
Minerals. Plants contain minerals and it's inexpensive which means it's not that much expensive. Minerals are all around is. Ur welcome.
$12120 is the annual amortization expense
<u>Explanation:</u>
The following formula is used to calculate the annual depreciation expense that will be recorded in the books of accounts
Depreciation = ( cost of the asset minus salvage value) divide by number of years.
Given data in the question: number of years = 10, cost of the asset = $124000, salvage value = $28000
Putting the figures in the formula,
Depreciation expense = ($124000 minus $28000) divide by 10
After solving, we get = $12120
Thus, annual depreciation expense = $12120
