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11111nata11111 [884]
3 years ago
8

a company had no office supplies available at the beginning of the year. during the year, the company purchased $370 worth of of

fice supplies. on december 31, $125 worth of office supplies remained. how much should the company report as office supplies expense for the year
Business
1 answer:
Galina-37 [17]3 years ago
5 0
Answer: $245

Supplies expense = Supplies purchased during the period - Ending balance of supplies on hand

= 370-125
= $ 245
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Isadora, a finance manager, is budgeting for the company's new line of production equipment. this equipment, which will be used
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Complete the following sentences:
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3 years ago
A firm is considering purchasing two assets. Asset L will have a useful life of 15 years and cost $4 million; it will have insta
schepotkina [342]

Answer:

Asset S has $103333 more depreciation expense per year than asset L

Option D is the correct answer.

Explanation:

The straight line depreciation method charges a constant depreciation expense per period throughout the estimated life of the asset. The depreciation expense per year is calculated as follows,

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Cost - Asset L = 4000000 + 750000   =  4750000 or 4.75 million

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<u>Depreciation expense per year </u>

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Asset S has $103333 more depreciation expense per year than asset L

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