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
serg [7]
3 years ago
6

Equipment costing $70,000 with a salvage value of $14,000 and an estimated life of 8 years has been depreciated using the straig

ht-line method for 2 years. Assuming a revised estimated total life of 6 years and no change in the salvage value, the depreciation expense for Year 3 would be
a. $10,500.
b. $9,333.
c. $14,000.
d. $7,000.
Business
2 answers:
Vlada [557]3 years ago
7 0

Answer:The answer is b

Explanation:

Cost - Salvage value /useful life

Cost =$70,000

Salvage value = $14,000

Useful life = 8years

Cost - Salvage value /useful life

70,000-14,000/8

= 56,000/8

=7000

Therefore yearly depreciation = $7,000

Provision for depreciation

Ist year cost - depreciation (70,000 - 7,000) = 63,000

2nd year cost - depreciation (63,000 - 7,000) = 56,000

Net Book value for the 3rd year = 56,000

Assuming a revised total life

= Net Book value /revised total life

= 56,000/6

= $9,333

Therefore depreciation expenses = $9,333

Shalnov [3]3 years ago
4 0

Answer:

depreciation expense =  $10500

correct option is a. $10,500

Explanation:

given data

Equipment costing  = $70,000

salvage value = $14,000

estimated life =  8 years

revised estimated total life = 6 years

to find out

depreciation expense

solution

we know that Depreciation expense per year is here express as

Depreciation expense =  (cost - Salvage value) ÷ useful life      ...................1

put here value we get

Depreciation expense  = \frac{70000 - 14000}{8}

Depreciation expense  = $7000 per year

so

book value as on beginning of year 3 is = 70000 - (7000 × 2)

book value as on beginning of year 3 is $56000

so

depreciation expense will be

depreciation expense =  \frac{56000 - 14000}{4}

depreciation expense =  $10500

correct option is a. $10,500

You might be interested in
What are some ways to manage a stakeholder relationship closely? Give examples of how you might manage relationships differently
Ludmilka [50]
<span>Managing a relationship closely usually involves more time and communications. You might meet with the stakeholder more often or communicate in other ways. There are many ways to work with unique personalities. Some people need a lot of attention and small talk, while others prefer a more direct approach, for example.</span>
4 0
3 years ago
In the various fights between management and union members what did each side believe
stepan [7]
<span>The workers had believed that they deserved shorter work days and better pay. The management had believed that the workers did not have a right to strike. Cheap labor was available.

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
</span>
5 0
3 years ago
Was frederick taylor, the pioneer of scientific management, during the historical period of early management thinking?
Varvara68 [4.7K]

He for sure was a mechanical revolutional pioneer!

5 0
3 years ago
Based on your understanding of personality and perception related issues in consumer behavior, answer this multi-part question:
Marta_Voda [28]

Explanation:

1.The advantages of placing a product through the web, television, or in a static place such as in a store or commercial warehouse are many because they provide the opportunity for the product to be promoted quickly and reach a greater number of people. The disadvantages are that if the product placement does not present a good advertising design it easily loses popularity and becomes boring.

2. Personality characteristics such as age, social class, and the rank that society performs, gender, greatly influences the interest shown by the product offered.

3. The knowledge that the consumer has of the product, the brand, the availability of immediate access to obtain the product, the cost of the product and the availability of acquiring a good personalized advice of the product, as well as the attention given to the client makes it possible to form a positive or negative perception of the product.

7 0
3 years ago
A law firm received $2,000 cash for legal services to be rendered in the future. The full amount was credited to the liability a
Mashcka [7]

Answer:

Revenues to be understated.

Explanation:

The accrual basis says that revenues are recognized when earned and expenses are recognized when incurred.

In this case, if the legal services have been rendered at the end of the accounting period and no adjusting entry is made there is a situation of understated revenue.

When an accountant says that an amount is understated, it means two things: The amount is not the correct amount, and  the amount is less than the true amount.

The adjusting entry that should be done is:

Debit to the liability account Unearned Service Revenue, and a credit to the revenue account Service Revenue.

8 0
3 years ago
Other questions:
  • Giada Foods reported $1,010 million in income before income taxes for 2021, its first year of operations. Tax depreciation excee
    11·1 answer
  • An economy initially has 200 units of physical capital per worker. Each year, it increases the amount of physical capital by 10%
    11·1 answer
  • Which of the following does not apply to field
    13·2 answers
  • A​ monopolist's maximized rate of economic profits is ​$2 comma 700 per week. Its weekly output is 900 ​units, and at this outpu
    7·1 answer
  • An entrepreneur is a person who owes money to a bank or other financial institution
    9·1 answer
  • Question 2-4, please?
    9·1 answer
  • The demand for lobsters is lower in the spring than in the summer. If the price of lobster is higher in spring than in summer th
    13·1 answer
  • Under one type of rating law, insurers are free to change rates and to use modified rates immediately. However, the new rate mus
    14·1 answer
  • What report shows which web pages get the most traffic and highest engagement?.
    8·1 answer
  • How to write a recommendation letter for a student?.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!