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DiKsa [7]
3 years ago
6

On November 1, 2016, Cullumber Company places a new asset into service. The cost of the asset is $78500 with an estimated 10-yea

r life and $8500 salvage value at the end of its useful life. What is the depreciation expense for 2017 of Cullumber Company uses the straight-line method of depreciation? g
Business
1 answer:
MrRissso [65]3 years ago
3 0

Answer:

$7,000

Explanation:

Depreciation: The depreciation is an expense that shows a reduction in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement. It is a non-cash item that does not affect the cash balance.  

The computation of the depreciation expense for 2017 is shown below:

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

= ($78,500 - $8,500) ÷ (10 years)

= ($70,000) ÷ (10 years)  

= $7,000

In this method, the depreciation is same for all the remaining useful life

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4 0
3 years ago
Refer to exhibit 20-2. the market for good x is initially in equilibrium at $5. the government then places a per-unit tax on goo
Tema [17]

Answer:

45%

Explanation:

The market for good x is initially in equilibrium at $5. the government then places a per-unit tax on good x, as shown by the shift of s1 to s2.

As a result of the shift in the supply curve a new equilibrium price is established at $6.25

That implies that the share of the burden that consumers will bear is $1.25 (which represents 55% portion of the tax) - the difference between the previous and new equilibrium prices.

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3 years ago
A local art gallery keeps information on its customers regarding their preferences forcertain artists as well as the style of ar
notsponge [240]

Answer:

A - Value co - creation

Explanation:

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4 0
3 years ago
Typing, Inc. has been an S corporation since its inception. On July 4, 2019, Typing distributed $50,000 to Jerusha. Her basis in
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Answer:

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3 0
3 years ago
Turnover Pulse hypothesis states that ____ eaters faced high rates of extinction during the ice ages
Alisiya [41]

The turnover Pulse hypothesis states that generalist eaters confronted excessive charges of extinction during the ice a long time.

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Phylogenetic turnover quantifies the evolutionary distance among species assemblages and is principal to expertise the main drivers shaping biodiversity. its miles affected each by means of the geographic and environmental distance between websites.

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Learn more about Pulse hypothesis here: brainly.com/question/23086833

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2 years ago
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