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uysha [10]
3 years ago
7

Equipment was purchased for $160000. Freight charges amounted to $3000 and there was a cost of $14000 for building a foundation

and installing the equipment. It is estimated that the equipment will have a $32000 salvage value at the end of its 5-year useful life.
Depreciation Expense each year using the straight-line method will be ______.
Business
1 answer:
Lesechka [4]3 years ago
6 0

Answer:

$29,000

Explanation:

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

= (Original cost - residual value) ÷ (useful life)

where,

Original cost is

= $160,000 + $3,000 + $14,000

= $177,000

And, the salvage value plus useful life is $32,000 and 5 years respectively

So, the depreciation expense is

= ($177,000 - $32,000) ÷ (5 years)

= ($145,000) ÷ (5 years)  

= $29,000

We simply applied the above formula

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A commercial bank will loan you $7,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The ann
Rashid [163]

Answer:

$353.05

Explanation:

To calculate this, the loan amortization formula is employed as follwow:

P = {A × [r(1 + r)^n]} ÷ {[(1+r)^n]-1} .................................... (1)

Where,

P = Monthly required payment = ?

A = Loan amount = $7,500

r = monthly interest rate = (0.12 ÷ 12) = 0.01

n = number of payment period = 24 months

Substituting all the figures into equation (1), we have:

P = {7,500 × [0.01(1 + 0.01)^24]} ÷ {[(1 + 0.01)^24]-1} = $353.05

Therefore, the amount of monthly payments is $353.05.

5 0
3 years ago
When you use the direct organizational plan for a routine message, you present the details before the primary idea?
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<span>The direct organizational plant for a routine message requires that you present the primary ideas first and then any supporting evidence. This plan emphasizes deduction, understanding the implications (details) of a central idea rather than presenting particulars first building toward the central idea of a message.</span>
4 0
3 years ago
Which of the following statements is correct?A.The payment of a cash dividend reduces net income.B.Cash received from issuing co
ioda

Answer:

B.Cash received from issuing common stock to stockholders is reported as a financing activity cash flow within the statement of cash flows.

Explanation:

As when common stock is issued, it provides cash to the company, for any kind of investments, or expense to be made, for running the business.

Financing activities are those which arrange monetary assets generally cash for the company, issue of securities, issue of bonds, borrowings as loans or note payable.

Thus, the statement B is correct.

Further dividends are provided after tax, and are distribution from net income, but not shown under that.

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7 0
3 years ago
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Answer:

true

Explanation:

this statement is true

3 0
3 years ago
Consignment goods are:
Nady [450]

Answer:

Goods shipped by the owner to the consignee who sells the goods for the owner.

Explanation:

Consignment goods -

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Hence , from the given question ,

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8 0
3 years ago
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