1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Effectus [21]
2 years ago
8

Holman company owns equipment with an original cost of $95,000 and an estimated salvage value of $5,000 that is being depreciate

d at $15,000 per year using the straight-line depreciation method, and only prepares adjustments at year-end. the adjusting entry needed to record annual depreciation is:
Business
1 answer:
brilliants [131]2 years ago
7 0
Depreciation is a way not only to recognize the lost value over time of an asset, but also a way to recognize the expense of the asset over time. To this end, we want to see the value of the asset get smaller, and a piece of the asset on the the income statement ever period. 
The depreciation base is 95,000 -5,000 = 90,000, and the depreciation period is 90,000/15,000 = 6 years.
The journal entry every year will be 
Dec. 31
Debit: Depreciation expense 15,0000
Credit: Accumulated Depreciation       (15,000)
Accumulated depreciation is a *contra-asset* account on the balance sheet that reduces the value of the the depreciable asset. 
You might be interested in
Walmart's implementation of RFID, a type of technology that allows it to improve inventory tracking, is an example of a(n) _____
Bess [88]

Answer:

Proactive

Explanation:

Proactive change is the change that occurs when an organisation makes different modifications to to a work place and methods.

Most organisations carry out proactive changes due to the following reasons:

1) Gaining entry into a new market.

2) Change in the normal business condition.

3) Acquiring operational capabilities.

Proactive changes helps to identify new innovation for the growth of the company, it also allows for flexibility and better internal understanding among employees.

5 0
3 years ago
Read 2 more answers
Stacey and Andrew each own one-half of the stock in Parakeet Corporation, a calendar year taxpayer. Cash distributions from Para
Fittoniya [83]

Answer:

Option 3

Explanation:

Earnings & profits (E&P) is the measure of a corporation’s economic ability to pay dividends to its shareholders. An up-to-date E&P calculation is important for many corporate transactions, including determining whether a distribution to shareholders is a taxable dividend.

The E&P allocated to Andrew's distribution

= 160,000 * 150,000/(350,000+150,000)

= 160,000 * 150,000/500,000

= 48,000

Option C

8 0
3 years ago
Who is responsible for applying skills, knowledge, and project management tools and techniques to project activities to successf
spin [16.1K]

Answer:

The correct answer is: Project manager.

Explanation:

The Project manager is the executive in corporations to oversee the accomplishments of the objectives of the firm. These professionals help to set, perform, evaluate, and adjust the goals of the company according to the current situation. They come up with different tools to effectively achieve that.

3 0
3 years ago
In risk management what does risk evaluation involve?
Naddik [55]
C) risk prioritizing
6 0
3 years ago
Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save mon
Llana [10]

Answer: The income effect

Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.

In the given case, Natalie was price conscious  and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.

Hence from the above we can conclude that the correct option is A.

7 0
3 years ago
Other questions:
  • You have two options for credit cards. Option one offers a fixed annual percentage rate of 17%. Option two offers you an introdu
    15·2 answers
  • What are some specific liquids that have less than 80 percent water?
    10·1 answer
  • ___________ is a collection of materials and products of value that a company purchases to either create or provide a product or
    9·1 answer
  • Ou invested $4,500 in a project which gave you a return of 14.1% the 1st year. You were quite happy, but the 2nd year wasn't as
    8·1 answer
  • Adams, Inc., is a book publisher that reissues old titles. The company offers these books with either a standard machine-glued h
    7·1 answer
  • Which of the following accurately describes a capital gain?
    15·1 answer
  • Which account option is designed to house money for easy access, either by check or by debit card?
    9·2 answers
  • Jansen Inc. acquired all of the outstanding common stock of Merriam Co. on January 1, 2019, for $257,000.Annual amortization of
    6·1 answer
  • In a market system, the allocation of scarce goods involves the consideration of multiple choice 1 what must be sacrificed in us
    10·1 answer
  • Without having a plan in place, managers may focus only on _____ instead of keeping a long-range view and anticipating new oppor
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!