I think that the answer is True, because this is a good schedule to these people
Answer:
$57,000
Explanation:
<u><em>Step 1 : Depreciation Rate</em></u>
Depreciation Rate = (Cost - Residual Value) ÷ Estimated Production
therefore,
Depreciation Rate = $14.00 per machine hour
<u><em>Step 2 : Depreciation expenses</em></u>
Depreciation expense = Depreciation Rate x Annual production
therefore
Year 1 = $42,000
Year 2 = $56,000
Year 3 = $70,000
Total = $168,000
<em><u>Step 3 : Book Value</u></em>
Book Value = Cost - Accumulated Depreciation
= $225,000 - $168,000
= $57,000
Conclusion :
book value at the end of year 3 is $57,000
Answer:
well to be honest the more you are focused and stuff and get used to like any subject that can help you in the near future.
Explanation:
Answer: $15,060
Explanation:
From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.
We are further told that Ben sold his shares to Joe for $10,000 on March 31, 1998 and that the corp. reported a $50,000 loss at the end of 1998. The loss that will be allocated to Joe will be:
= $50,000 × 40% × 9/12
= $50,000 × 0.4 × 0.75
= $15,000
The closest figure we have close to that is $15,060 which is option B