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e-lub [12.9K]
3 years ago
13

company purchased factory equipment on June 1, 2013, for $80,000. It is estimated that the equipment will have a $5,000 salvage

value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2013, is A. $7,500. B. $3,125. C. $3,750. D. $4,375.
Business
1 answer:
mylen [45]3 years ago
8 0

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The company purchased factory equipment on June 1, 2013, for $80,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 10-year useful life.

Under the straight-line method of depreciation, we need to use the following formula to calculate the annual depreciation:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (80,000 - 5,000)/10= 7,500

Now, we need to calculate the depreciation for 7 months:

Depreciation expense 2013= (7,500/12)*7= $4,375

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Answer:

B. Return on Equity =  3.17%

Explanation:

The return on common stockholder's equity is a profitability measure showing how much net return the company is providing on the equity invested by shareholders.

The equity of common stockholders is made up of Share capital and reserves. The common shares is just one part of equity.

To calculate the return on equity, the formula is:

Return on Common Equity = Net Income / Shareholder's Equity

Here, the Net income is 665 m while the shareholder's equity is 18000m.

Return on equity = 665 / 18000 = 0.0369 or 3.69% rounded off to 3.7%

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2 years ago
Mofro's Computer Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year,
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Answer:

The change in stockholders' equity was of 150.000

Explanation:

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