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IrinaK [193]
3 years ago
14

Kansas Enterprises purchased equipment for $72,500 on January 1, 2021. The equipment is expected to have a five-year service lif

e, with a residual value of $7,950 at the end of five years. Using the straight-line method, the book value at December 31, 2021, would be:
Business
1 answer:
cupoosta [38]3 years ago
8 0

Answer:

Depreciation expense $12,910

Book value $46,680

Explanation:

Kansas Enterprises

Formula for Depreciation expenses

Annual depreciation expense=(Cost-Residual value)/Useful Life

Where,

Cost = 72,500

Residual value =7,950

Useful life = 5 years

Let plug in the formula

=(72,500-7950)/5

=64,550/5

=$12,910/year

Therefore depreciation expense for 2021

=$12,910

Calulation for Book value

Book value = $72,500 – ($12,910× 2)

$72,500 -$25,820

=$46,680

Therefore the book value would be $46,680

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Why do you earn more money using compound interest than you would using simple interest?
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Interest is calculated as a <u>percentage of the principal</u>. With compound interest, the interest earned is <u>added back into the principle</u> so during the next period you start earning interest on the new, higher amount. Every time the interest compounds, it gets added into the principal and you earn more and more interest.

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How should the financial interests of stockholders be balanced with varied interests of stakeholders? If you were writing a code
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