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VMariaS [17]
3 years ago
12

Equipment with a cost of $225,000 has an estimated salvage value of $15,000 and an estimated life of 4 years or 10,000 hours. It

is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 2,700 hours?a. $56,250.b. $52,500.c. $56,700.d. $54,375.
Business
1 answer:
Gemiola [76]3 years ago
7 0

Answer: The answer is $52,500

Explanation:

Cost- salvage value/useful life

Cost=$225,000, salvage value=$15,000, useful life=4years

= 225,000-15,000/4

=210,000/4

= 52,500

Therefore the yearly depreciation of the equipment is $52,500

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a

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On January 1, 2020, Pharoah Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was
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Answer:

The Journal entry is as follows:

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3 years ago
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