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
Kipish [7]
3 years ago
13

In 2010, Norbert Incorporated bought a new tooling machine for $45,000. Norbert estimated that the machine had a useful life of

15 years with no salvage value, and it decided to depreciate the machine using the straight-line method. In January 2020, after the machine had been in use for 10 years, Norbert paid $12,000 to completely overhaul the machine. It did so with the expectation that the overhaul would extend the machine’s useful life by an additional 5 years. Given this information, Norbert should record a 2020 depreciation expense of _______ for the machine.
Business
1 answer:
Norma-Jean [14]3 years ago
3 0

Answer:

Norbert should record at 2020 depreciation expense of $2,700 for the machine

Explanation:

The depreciable base can be calculated as follows;

depreciable base=acquisition cost-salvage value

where;

acquisition cost=$45,000

salvage value=$0

replacing;

depreciable base=45,000-0=$45,000

Annual depreciation expense=depreciable base/useful life

annual depreciation expense=45,000/15=$3,000

accumulated depreciation after 10 years=3,000×10=$30,000

New net book value=acquisition cost-accumulated depreciation+overhaul cost

New machine value=(45,000-30,000+12,000)=$27,000

New depreciation base=new machine value-salvage value

where;

new machine value=$27,000

salvage value=$0

replacing;

New depreciation base=27,000-0=$27,000

New Annual depreciation expense=new depreciation base/useful life

where;

new depreciation base=$27,000

useful life=5+5=10 years

replacing;

New Annual depreciation expense=27,000/10=$2,700

Norbert should record at 2020 depreciation expense of $2,700 for the machine

You might be interested in
Why not use the silver standard for money?
xz_007 [3.2K]
Do u mean the nickles and dimes??
8 0
3 years ago
Revoked digital certificates are listed in a(n) ____, which can be accessed to check the certificate status of other users
Verizon [17]

Answer:

Certificate Revocation List

Explanation:

According to my research on different professional requirements, I can say that based on the information provided within the question the term being describe in the question is called a Certificate Revocation List (CRL). This is (like defined in the question) a list of digital certificates that have been revoked by the issuing Certificate Authority, before they actually expire making them obsolete and letting anyone interested know that they should no longer be trusted. This list is usually looked at when someone runs across a signature and want to know if that person actually holds that certain certificate proving that they have the knowledge that is required.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
In the résumé above, what would cause appearance of the "00000000000"?
enot [183]
It could be that you type the numbers accidentally and that should have made the numbers appear. Well if you want to get rid of it you just need to remove that on the soft copy and then print the resume again. Doing so should have eliminate those 0`s printed on the resume. 


<span />
7 0
3 years ago
Read 2 more answers
If a test is being used to make a dichotomous decision (e. G. , suitable or unsuitable for the job), the _____ marks the point o
wolverine [178]

If a test is being used to make a dichotomous decision (e. G. , suitable or unsuitable for the job), the cutting marks the point of decision.

<h3>What is the usefulness of cut off mark in a test?</h3>

cut off mark in a test is been used in the selection process after the test which is very important in the point of decision.

And this will be necessary to get the good hand for the job when the  test is being used to make a dichotomous decision.

Learn more about  cut off mark at:brainly.com/question/25997960

#SPJ12

3 0
2 years ago
On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurre
marissa [1.9K]

Answer:

Assets = $ 55650

Liability =8300

Owner's equity=47350

Liability and Owner's equity.=8300 +47350=$55650

Explanation:

Using The basic equation we add the transaction to arrive at the actual amounts.

Assets = Liabilities + Owner's Equity

1.   50,000=                    50,000

Cash +Assets = Liabilities + Owner's Equity

2.    35,800 +14,200=                 50,000

Cash +Assets = Liabilities + Owner's Equity- Rent Expense

3) 33600+ 14200 =                     50,000 - 2,200

Cash +Canoes = Liabilities + Owner's Equity- Rent Expense

4) 33600+ 14200+ 4900= 4900 +  50,000 - 2,200

Cash +Canoes = Liabilities + Owner's Equity- Rent Expense

5) 33600+ 19,100 + 3,400= 4900+ 3400 +  50,000 - 2,200

Cash +Canoes + Office Equip = Liabilities + Owner's Equity- Rent Expense

6) 33225+22500+ 375= 8,300 +  50,000 - 2,200

Cash +Canoes + Office Equip+ A/ R = Liabilities + Owner's Equity- Rent Expense

7) 33225+22500+ 375+ 1350 = 8,300 +  50,000 - 2,200+ 1350

Cash +Canoes + Office Equip+ A/ R = Liabilities + Owner's Equity- Rent Expense- drawings

8) 31425+22500+ 375+ 1350 = 8,300 +  50,000 - 2,200+ 1350-1800

We get

Cash = 31425

Kayak And Canoe 22500

Office Equipment= 375

Accounts Receivable= 1350

Accounts Payable = 8300

Capital less Drawings= 50,000- 1800= 48,200(850)= 47350

Revenue- Expenses = 1350 -2200= (850)

Assets = Cash +Kayak And Canoe +Office Equipment+ Accounts Receivable = 31425 +22500 + 375 +1350= $ 55650

Liability =8300

Owner's equity=47350

Liability and Owner's equity.=8300 +47350=$55650

6 0
3 years ago
Other questions:
  • If your Company doesn't have cash flow which of these things is likely to happen
    10·2 answers
  • Sox Corporation purchased a 30% interest in Hack Corporation for $ 1,725,000 on January 1, 2018. On November 1, 2018, Hack decla
    12·1 answer
  • The productivity of labor in a firm has decreased due to the recent retirement of many of the firm’s most skilled workers. Assum
    10·1 answer
  • During a decline in the economy, a limited number of jobs will motivate a growing number of ______ to start new businesses.
    14·1 answer
  • An investment will pay $202,000 at the end of next year for an investment of $182,000 at the start of the year. If the market in
    8·1 answer
  • Land is purchased for​ $300,000. Back taxes paid by the purchaser were​ $8,500; total costs to demolish an existing building wer
    8·1 answer
  • Securitization, the process of forming new securities by bundling or slicing up groups of securities like mortgages and bonds, i
    13·1 answer
  • Daniela is a member of a team at a company that handles promotions for minor-league baseball clubs. Daniela’s manager has been r
    7·1 answer
  • Paul agrees to sell his clothing store to Michael and, as part of the sale, to execute a covenant not to compete promising not t
    15·1 answer
  • Calculate the contribution to total performance from currency, country, and stock selection for the manager in the example below
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!