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cupoosta [38]
3 years ago
9

A company purchased a computer system at a cost of $24,000. The estimated useful life is 6 years, and the estimated residual val

ue is $9,000. Assuming the company uses the double-declining-balance method, what is the depreciation expense for the second year? (Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount.)
Business
1 answer:
max2010maxim [7]3 years ago
7 0

Answer:

Year 2= $3,333.33

Explanation:

Giving the following information:

A company purchased a computer system for $24,000. The estimated useful life is 6 years, and the estimated residual value is $9,000.

To calculate the depreciation expense for the second year, we need to use the following formula for year 1 and 2:

Annual depreciation= 2*[(book value)/estimated life (years)]

Year 1= 2*[(24,000 - 9,000)/6]= 5,000

Year 2= 2*[(15,000 - 5,000)/6]= 3,333.33

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3 years ago
Kelley Company reports $1,250,000 of net income for 2017 and declares $175,000 of cash dividends on its preferred stock for 2017
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Answer:

Net income available to common stockholders is $1,075,000

Explanation:

Net Income                            $1,250,000

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Net income available to       <u>$1,075,000</u>

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3 years ago
Susie buys two goods: rounds of golf and massages.Suppose that the price of a round of golf is $20 and the price of a massage is
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Answer:

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