1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vlada [557]
2 years ago
6

Grouper Company purchased a new machine on October 1, 2020, at a cost of $114,800. The company estimated that the machine will h

ave a salvage value of $14,800. The machine is expected to be used for 10,000 working hours during its 4-year life.
Compute the depreciation expense under straight-line method for 2020
Business
1 answer:
Colt1911 [192]2 years ago
3 0

Answer:

$6,250

Explanation:

Cost of machine = $114,800

Salvage value = $14,800

Life of machine = 4 years

Depreciable cost = Cost - Salvage value

                             = $114,800 - $14,800

                             = $100,000

Date of purchase = October 1, 2020

Assets used for period in 2020 = 3 months

Annual depreciation:

= Depreciable cost ÷ life of assets

= $100,000 ÷ 4

= $25,000

Depreciation expense for 2020:

= Annual depreciation × (3 ÷ 12)

= 25,000 × (3 ÷ 12)

= $6,250

You might be interested in
Carson Company purchased a depreciable asset for $280,000. The estimated salvage value is $14,000, and the estimated useful life
sergij07 [2.7K]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Carson Company purchased a depreciable asset for $280,000. The estimated salvage value is $14,000, and the estimated useful life is 10,000 hours. Carson used the asset for 1,500 hours in the current year. The activity method will be used for depreciation.

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= [(280,000 - 14,000)/10,000]*1,500= $39,900

3 0
3 years ago
_____ are one- or two-floor lodging establishments in which the rooms are usually accessible from an outdoor parking area.
Stella [2.4K]
The definition above is that of MOTELS. Motels are hotels which are typically designed for motorists and which usually have parking lots for vehicles. They are designed in such a way that the rooms open directly to the parking area. Motels became popular around 1920s when highway system allowed people to engage in long distance travelling by roads.
3 0
3 years ago
Read 2 more answers
Macroland, currency held by the public is 2,000 econs, bank reserves are 300 econs, and the required reserve/deposit ratio is 10
I am Lyosha [343]

Answer:

D)5,000; 7,000

Explanation:

Public is holding 2000 econs and banks reserves are 300 econs. It is mentioned that reserve requirement is 10%.

So total bank deposits must be 3000. Money supply in the economy is (3000 + 2000 = 5000)

When the reserve ratio is 0.1, that means the money multiplier is 10.

If there is an additional inflow of currency because of printing 200 econs by central bank then because of multiplier effect it will be 2000 econs.

Money supply from earlier 5000 econs will become 7000 econs.

Option D is correct.

7 0
3 years ago
Forever Jewelers uses the perpetual inventory system. On April​ 2, Forever sold merchandise with a cost of $ 1 comma 500$1,500
Tema [17]

Answer:

Accounts Receivable $8,820

                   To Sales Revenue $8,820

Explanation:

The journal entry to record the sales revenue is shown below:

Accounts receivable A/c Dr $8,820

      To Sales revenue A/c $8,820

(Being merchandise sold on credit basis)

For recording this we debited the account receivable as it increased the assets and credited the sales revenue as it also increased the revenue

The computation of sales revenue is shown below:

= Sales revenue - discount

= $9,000 - $9,000 × 2%

= $9,000 - $180

= $8,820

This is the answer but the same is not provided in the given options

6 0
2 years ago
Select the correct answer.
Elanso [62]

Answer:

OA

Explanation:

kalasksksksksjdjdkdjdjdjkdjfnfnfgmgmg

4 0
3 years ago
Read 2 more answers
Other questions:
  • Has this question helped you in in life!
    10·1 answer
  • Which is part of the sales process? A. customer retention B. billing C. cost planning D. customer relations
    7·1 answer
  • A ________ pay plan pays for individual performance based on performance appraisal ratings.
    13·1 answer
  • JWS Transport Company’s employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immed
    7·1 answer
  • Jojo drives a truck for a living but is attending Ashford to earn a degree in business administration because what he really wan
    8·1 answer
  • Why has the financial crisis raised the average of people retiring?​
    8·1 answer
  • 2. Matthew bakes apple pies that he sells at the local farmer’s market. If the price of apples increases, the a. supply curve fo
    7·1 answer
  • You just won the lottery, which promises you $260,000 per year for the next 20 years, starting today (annuity due). If your disc
    11·1 answer
  • If the amount of beachfront land in Malibu supplied to the market remains the same even when the price of beachfront land in Mal
    5·1 answer
  • 3.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!