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Vilka [71]
4 years ago
14

Bates Company purchased equipment on January 1, 2006, at a total invoice cost of $600,000. The equipment has an estimated salvag

e value of $15,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2007, if the straight-line method of depreciation is used?a. $120,000b. $240,000c. $117,000d. $234,000
Business
1 answer:
marishachu [46]4 years ago
8 0

Answer:

d. $234,000

Explanation:

The computation of the depreciation expense for one year under the straight line method is shown below:

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

= ($600,000 - $15,000) ÷ (5 years)  

= ($585,000) ÷ (5 years)  

= $117,000

For two years, the accumulated depreciation would be

= $117,000 × 2 years

= $234,000

The two year is calculated from January 1, 2006 to December 31, 2007

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Debts and obligations of a business are referred to as:.
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Answer:

Liabilities

Explanation:

Liabilities are the debts and obligations that a business owes.

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2 years ago
Jake manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash. On payday, he immediately g
poizon [28]

Answer:

The given condition is an example of:

A. Menu costs

Explanation:

In the given question mentioning data is that

Jake is been managing a grocery store in any country which is experiencing high rate of inflation. He is mentioned to be paid in cash.

On his very payday he went outside immediately and bought as many goods as he could for himself as he was going to get his pay today and was needing those items.

So, he thought of buying all the items he is needing as for the next two weeks  in order of prevention of the money in his wallet from losing value due to high inflation rates.

And at last what he couldn't spend on buying for all that amount he converted that amount into most stable foreign currency for being used as a steep fee.

So all this were an example of :

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7 0
3 years ago
Which of the following would not be characteristic of a chain restaurant?
mr_godi [17]

Answer:

C: ability to set your own hours of operation

Explanation:

With a chain restaurant you have to have the same hours as other restaurants in that chain.

7 0
4 years ago
Read 2 more answers
heywood yapinchme works in the it department at pain, inc. after finding out that the company is planning to purchase four more
mash [69]

Then, using his brother's name and dealing with seller records, he resold the computer systems to ache for $2, three hundred. this form of scheme is called a(n):d) Turnaround sale

A vendor, also known as a dealer, is an individual or business enterprise that sells goods or services to someone else within the economic manufacturing chain.

A business enterprise or a man or woman who sells a terrific or a carrier is a supplier. companies may promote to different companies, or they may be outlets that promote immediately to purchasers. An instance of a seller is a company that gives the stock to boutique apparel shops. Key takeaways. A vendor is a person or business that purchases goods and services from distributors and resells those gadgets to purchasers or different businesses. The 5 varieties of vendors are manufacturers, wholesalers, outlets, carrier and preservation vendors, impartial carriers, and alternate display representatives.

Learn more about vendor here:

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6 0
1 year ago
Laura says that the present value of $700 to be received one year from today if the interest rate is 6 percent is less than the
Andrews [41]

Answer:

The correct answer is A. Both Laura and Cassie are correct.

Explanation:

Since Laura says that the present value of $ 700 to be received one year from today if the interest rate is 6 percent is less than the present value of $ 700 to be received two years from today if the interest rate is 3 percent, and Cassie says that $ 700 saved for one year at 6 percent interest has a smaller future value than $ 700 saved for two years at 3 percent interest, to determine who is right, the following calculations must be performed:

700 x 1.06 = 742

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Therefore, both Laura and Cassie are correct in their claims.

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3 years ago
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