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beks73 [17]
4 years ago
9

On November 1, 2016, Blossom Company places a new asset into service. The cost of the asset is $73000 with an estimated 10-year

life and $11000 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Blossom Company uses the straight-line method of depreciation
Business
1 answer:
Aneli [31]4 years ago
6 0

Answer:

$6,200

Explanation:

Using the straight-line method of depreciation, the depreciation expense is the same for each year during the estimated 10-year life of the asset. The yearly depreciation is given by:

D = \frac{73,000-11,000}{10}\\D= \$6,200

Blossom Company has a depreciation expense for 2017 of $6,200.

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3 years ago
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Answer:

heres are the pro/advantages and cons/disadvantages of advertising.

Explanation:

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6 0
3 years ago
The university of texas and texas a & m university systems get large sums of money for their endowments from oil and gas roy
maksim [4K]

This is true. The university of Texas and Texas a & m university systems get large sums of money for their endowments from oil and gas royalties.

<h3>What is the meaning of royalties?</h3>

This is the term that is used to refer to the sum of paid due to the fact that something was sold. It is the money that the university would get due to the fact that they sold oil and oil products in the state. Texas is a very rich oil state.

Hence we can say that: This is true. The university of Texas and Texas a & m university systems get large sums of money for their endowments from oil and gas royalties.

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Answer:

$8,000

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Closing costs are fees levied on mortgage takers. They are paid at the closing stages of a mortgage to cover the costs of transferring the title to the buyer and other expenses.

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6 0
3 years ago
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juin [17]

Answer:

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