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liubo4ka [24]
3 years ago
10

At the beginning of Year 1, Mitchell Company purchased office equipment for $15,000. The machine has an estimated residual value

of $1,000 and an estimated service life of 5 years. If Mitchell uses straight-line depreciation, it will make which of the following entries related to depreciation at the end of Year 1?
Business
1 answer:
QveST [7]3 years ago
3 0

Answer:

Debit the depreciation expense for $2800

Explanation:

Straight line depreciation expense = (cost of asset - Salvage value) / useful life

($15,000 - $1,000) / 5 = $2,800

I hope my answer helps you

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After Jeff Bezos read about how the Internet was growing by 2,000 percent a month, he set out to use the Internet as a new distr
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Answer:

B. entrepreneur who commercialized invention into an innovation

Explanation:

A- there wasn't any firm before

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B.- He use an invention The Internet  to innovate in the ways product are distribute and comercialized. It made an innovation(it didn't exist before) out of the invention

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Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): othe
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Answer:

                                        NIKE, INC.

               Partial Balance Sheet as of May 31, 2022

                                                                            (in millions)

<u>Property, Plant and Equipment</u>

Land                                                                          $220.0

Buildings                                                  $980.0

Machinery and Equipment                     $2160.0

Other Plant Assets                                  $935.0

Less: Accumulated Depreciation          $2200.0   <u>$1875.0</u>

Total Property, Plant and Equipment                    <u>$2095.0</u>

<u>Intangible Assets</u>:

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Total Intangible Assets                                            <u>$670.0</u>

3 0
3 years ago
Assume that eggs and cereals are substitute products for breakfast. If a disease kills a large number of chickens, what will hap
larisa [96]

Answer:

The correct answer is letter "D": the quantity demanded of cereal will increase.

Explanation:

According to the demand theory, as long as the quantity demanded increases, the price would decrease (the demand curve shifts to the right). The quantity demanded decreases when the price would increase (the demand curve shifts to the left).

In the example, as eggs and cereals are substitute products, if a disease kills a large number of chickens there will be fewer eggs supply in the market. Consumers will start looking for substitutes. Then, <em>the quantity demanded for cereal will increase</em> moving the <em>demand </em><u><em>curve</em></u><em> to the right</em>.

6 0
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Modern economic growth has caused?.<br>​
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Using the following information, prepare a vertical analysis of two years' income statements. Fees Earned is $153,500 for Year 2
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Answer:

Following Statement is true

Operating income has increased as a percentage of revenue.

Vertical Analysis

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Fees Earned                                                  $153,500       $149,700

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Operating Income                                          $30,700        $22,455

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None of these choices are correct.

Operating expenses have increased as a percentage of revenue

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