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Marianna [84]
3 years ago
10

On January​ 1, 2018,​ Jordan, Inc. acquired a machine for $ 1 comma 040 comma 000. The estimated useful life of the asset is fiv

e years. Residual value at the end of five years is estimated to be $ 55 comma 000. Calculate the depreciation expense per year using the straightminusline method.
Business
2 answers:
Keith_Richards [23]3 years ago
5 0

Answer:

$197,000

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically, using the straight line method , the annual depreciation

= (cost - salvage value)/estimated useful life

= ($1,040,000 - $55,000)/5

= $197,000

romanna [79]3 years ago
4 0

Answer:

Annual depreciation= $197,000

Explanation:

Giving the following information:

Purchasing price= $1,040,000

Residual value= $55,000

Useful life in years= 5

<u>Under the straight-line method, the annual depreciation is the same during the useful life of the machine. To calculate the annual depreciation, we need to use the following formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,040,000 - 55,000)/5= $197,000

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Answer:

customers

Explanation:

they are the one who buys products that factories make

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Refer to exhibit 4-5. if a free market were allowed in the transplanted kidney market, then the equilibrium price would be p2. t
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Answer: (q2 - q1).

Explanation:

A free market is an economic system whereby production of goods and services are being regulated by demand and supply forces. In this economic system, it should be noted that there's little or no intervention from the government.

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5 0
3 years ago
Jenae is able to purchase a different brand of coffee for half the price from a new supplier. She anticipated that her co-worker
mr_godi [17]

Answer:

blinded

Explanation:

Since in the question it is mentioned that Jenae is able to acquire the different kind of coffee brand in half price and she knows that the coworkers would be object regarding the same but at the time of taste test the coworkers rejected the new brand so this scenario represent that the taste test was not blinded as they didnt keep the participants of not awaring with regard the brand what they were taking

Therefore the above represent the answer

4 0
3 years ago
On June 1, 2017, Windsor, Inc. was started with an initial investment in the company of $22,420 cash. Here are the assets, liabi
vfiekz [6]

Question Completion:

Prepare an Income Statement for the month of June.

Answer:

Windsor, Inc.

Income Statement for the month ended June 30, 2017:

Service Revenue                  $7,730

Supplies expense    1,100

Maintenance and

  repairs expense     700

Advertising expense 400

Utilities expense       200

Salaries and

 wages expense    1,630   $4,030

Net Income                         $3,700

Explanation:

Windsor, Inc. Income Statement is where the revenues and expenses are summarized in order to arrive at the net income or profit of the business.  Temporary accounts are closed to the income statement.  These are accounts that are periodic in nature.  They are not permanent accounts, which are transferred to the next period.  The only element of the income statement that is taken to the balance sheet is the net income or loss.

3 0
4 years ago
Wiley company purchased new equipment for $60,000. wiley paid cash for the equipment. other costs associated with the equipment
Colt1911 [192]
The total cost of equipment that should be recorded is calculated by adding up all the given values in this item. The costs include equipment cost, transportation cost, tax, and installation cost. Adding up all the values,

     TC = ($60,000) + ($1,000) + ($3,000) + ($2,500)
               TC = $66,500

ANSWER: TC = $66,500
6 0
3 years ago
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