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
Anastasy [175]
4 years ago
10

The asset's book value is $70,000 on June 1, Year 3. On that date, management determines that the asset's salvage value should b

e $5,000 rather than the original estimate of $10,000. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:____________
a) $8,125.00
b) $7,375.00
c) $4,062.50
d) $3,750.00
e) $7,812.50
Business
1 answer:
aniked [119]4 years ago
5 0

Answer:

The correct answer is C that is $4,062.50

Explanation:

The depreciation expense is computed as:

Depreciation expense = Book Value of asset - Salvage Value / Number of years × 6/ 12

where

Book value is $70,000

Salvage value is $5,000

Number of years is 8 because it is Year 3

Number of months is 6 months

= $70,000 - $5,000/ 8 × 6/ 12

= $65,000 / 8 × 6/ 12

= $8,125 × 6/ 12

= $4,062.50

You might be interested in
For your business to be successful you will need a strategy for beating the competition, that is, a ________.
Natali5045456 [20]
The answer is the letter "B" Competitive Advantage.
5 0
4 years ago
A nonprofit group organizes its local fundraisers in teams, with each of its L team leaders responsible for D group directors, a
Akimi4 [234]

Answer:

Each of L team leaders has D group directors, making the total number of group directors equal to (L)(D). And each of those group directors has F fundraisers, again requiring multiplication: that total is (L)(D)(F). (You can try this by plugging in small numbers - if each of 2 leaders has 3 directors, you know there would be 6 directors)

So while statement 1 is not sufficient (there are multiple combinations that could get you to 81, such as L = 1, D = 2, and F = 39; or L = 1, D = 5, and F = 15), statement 2 guarantees that there is only one team leader. This is because 5 is a prime number, and you know that the number of group directors = LD. The only possible way for LD to equal 5 is if L is 1 and D is 5, or if D is 1 and L is 5. And since the stimulus tells you that there are more directors than leaders, the combination must be 5 directors and 1 leader. Accordingly, statement 2 is sufficient.

Explanation:

4 0
3 years ago
On June 1, Crane Company Ltd. borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. The note matures on December 1. Cor
azamat

Answer:

Explanation:

The journal entry is shown below:

On June 1

Cash A/c Dr $99,000

    To Notes payable A/c  $99,000

(Being the amount borrowed is recorded)

For recording this transaction, we debited the cash account and credited the notes payable account so that the correct posting can be done

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
At a price of _____, books will be both supplied and demanded. $10 $20 $30
dezoksy [38]

well if im right it should be 20$.

4 0
3 years ago
How is a job different from a carrer
Marta_Voda [28]
A job may just be temporary a career normally is for a lifetime and is specific field that you work in for example law, engineering,etc
6 0
3 years ago
Other questions:
  • Which of the following is NOT a role of production and distribution in a company?
    12·1 answer
  • On August 15, you purchased 110 shares of stock in the Cara Cotton Company at $26 a share and a year later you sold it for $22 a
    7·1 answer
  • Privack Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours
    13·1 answer
  • Using a fraudulent voice message to trick the receiver into revealing confidential data such as account numbers, passwords, or o
    9·2 answers
  • When marginal cost is below average variable cost, average variable cost must be:______a. At its minimum. b. At its maximum. c.
    5·1 answer
  • Specialization and trade are closely linked to_____.
    6·1 answer
  • A particular​ country's exports of goods are increasing exponentially. The value of the​ exports, t years after 2007​, can be ap
    8·1 answer
  • A cost-cutting project will decrease costs by $66,100 a year. The annual depreciation will be $15,750 and the tax rate is 35 per
    9·1 answer
  • Helpppppppppppppppppp will give brainliest.
    15·1 answer
  • Carter invested $3,900 in an account paying an interest rate of 3. 9% compounded daily. Assuming no deposits or withdrawals are
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!