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bazaltina [42]
3 years ago
7

Mellow Co. depreciates a $12,000 asset over five years, using the straight-line method with no salvage value. At the beginning o

f the fifth year, it is determined that the asset will last another four years. What amount should Mellow report as depreciation expense for year five?
Business
1 answer:
vaieri [72.5K]3 years ago
6 0

Answer:

$600

Explanation:

Using the straight-line depreciation method:

Cost amount $12,000:

useful life five years

depreciation per year: =$ 12000/ 5

       =$ 2,400.00

Book value at the beginning of year five:

=cost price minus four years of depreciation

=$12,000-($2400 x 4)= $ 12,000- $ 9,600

=$2, 400.00

Another four years of useful life:

Depreciation = Book value /4

   =$2400/4

   = $600

   

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Mortgages, loans taken to purchase a property, involve regular payments at fixed intervals and are treated as reverse annuities.
Marianna [84]

Answer: b

Explanation:

500 000*12% = 60 000\12

5000

4 0
3 years ago
ABO purchased a truck at the beginning of 2018 for
valentina_108 [34]

Answer:

B. Debit Loss $5,000.

Explanation:

depreciation per year under straigh-line method:

\frac{cost- salvage}{useful \: life}

\frac{140,000 - 20,000}{6}

depreciation per year: 20,000

book value at 2019 year-end:

140,000 - 20,000 x 2 = 100,000

disposal value:                95,000

loss for                               5,000

loss at diposal:                      5,000  debit

cash                                      95,000 debit

accumulated depreciation  40,000 debit

                truck                                       140,000 credit

3 0
4 years ago
Which of these are goals of an expansionary policy? Check all that apply. a. increased available credit b. decreased available c
nignag [31]

Answer:

a. increased available credit

c. increased money supply

f. decreased interest rates

Explanation:

Expansionary policy is a policy pursued by either the government or the monetary authority to stimulate aggregate demand in the economy. This can be achieved through the use of either the fiscal policy tool by the government or the monetary policy tool by the Federal Reserve.

The policy target of expansionary policy are any of the economic goals of the government, such as economic growth, control of inflation, favorable balance of payment, e.t.c.

5 0
4 years ago
Which of the following balance sheet equations is​ INCORRECT? A. Assets minus Current liabilities​ = Longminusterm liabilities​
Kipish [7]

Answer:

C

Explanation:

This balance sheet equation is incorrect, Assets minus Current liabilities​ = Longminusterm liabilities

5 0
3 years ago
Read 2 more answers
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kap26 [50]

When faced with the option of beginning a new venture you should always select the time that results in the highest NPV.

The important thing assumption we ought to make in entrepreneurship is the idea that the handiest way to do matters right is to do them yourself. because of this, we need to take dangers and also need confidence in our talent set so we can produce satisfactory work while at the same time maintaining a tremendous mindset.

Someone who undertakes the chance of starting a new enterprise task is referred to as an entrepreneur. An entrepreneur creates a firm to realize their idea, called entrepreneurship, which aggregates capital and labor on the way to produce goods or services for profit. Entrepreneurship is the willingness and potential to establish, organize and control a business and take economic dangers to make earnings. An Entrepreneur is an innovator who brings in new ideas to create a hit business assignment.

Learn more about Beginning a new venture here:-brainly.com/question/19260136

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3 0
2 years ago
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