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
defon
3 years ago
10

Kansas Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year service lif

e, with a residual value of $5,000 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: Multiple Choice $12,000. $11,000. $60,000. None of these.
Business
1 answer:
Yuki888 [10]3 years ago
3 0

Answer:

$11000

Explanation:

Depreciation is the reduction in the value of an asset over time due to regular wear and tear. Straight - line depreciation is where the same amount is reduced every year over the life of the asset. It is calculated as (Cost of asset - residual value) / number of useful life years

= ($60000 - $5000) / 5 = $11000

You might be interested in
Language that outlines acceptable and unacceptable use of it resources and defines sanctions to be applied if a violation occurs
SashulF [63]

Language that outlines acceptable and unacceptable use of it resources and defines sanctions to be applied if a violation occurs is typically found in an employee code of conduct. Typically, when a person gets hired on at a new job, the new job will give them an employee code of conduct book that states what is and isn't allowed. The code will state what an employee does that will be deemed acceptable and what they can do to make sure they stay in the outlined rules.

3 0
3 years ago
Which document is necessary for nearly everyone who applies for a job?
mestny [16]
I think it is an application OR a resume. That is usually what is necessary for applying for a job.
6 0
3 years ago
Sears Corporation, which has a calendar year accounting period, purchased a new machine for $40,000 on April 1, 2007. At that ti
Irina-Kira [14]

Answer:

$1,000

Explanation:

The computation of gain on sales is given below:-

Depreciation per year = $40,000 - $10,000 ÷ 10

= $3,000

Life of equipment = 5.5 years

Accumulated Depreciation on equipment = 5.5 × $3,000

= $16,500

Book value of equipment = $40,000 - $16,500

= $23,500

Gain = Proceed from sale - Book value at the time of sale

= $24,500 - $23,500

= $1,000

5 0
3 years ago
When it comes to saving money, what is a good rule of thumb
Mamont248 [21]
Buy what u need when u need it not what u want when u want my dad always said

7 0
3 years ago
Read 2 more answers
You are considering a stock investment in one of two firms (Lots of Debt, Inc. and Lots of Equity, Inc.), both of which operate
Luden [163]

Answer:

Debt Ratio = Total Debt Total/ Assets

Equity Multiplier = Assets/Equity

<h2>Lots of Debt</h2>

Debt Ratio

= 32.5/34.25

= 0.95

Equity Multiplier

= 34.25/2

= 17.13

<h2>Lots of Equity </h2>

Debt Ratio

= 2/34.25

= 0.06

Equity Multiplier

= 34.25/32.25

= 1.06

6 0
3 years ago
Other questions:
  • A company manufactures and sells a product for $124 per unit. The company's fixed costs are $72,760, and its variable costs are
    6·1 answer
  • Jodi just described how Best Buy's new program required a very different way of defining work. Because the hours are no longer i
    9·1 answer
  • Ron is an executive coach who wants to develop new training programs for customers and would like feedback from his staff and so
    13·1 answer
  • One way to learn about your talents, skills, and personal qualities is to:
    14·2 answers
  • Which of the following best explains why a resident of Venezuela would wish to use U.S. currencies rather than currencies issued
    13·1 answer
  • During Jill's market research study, many customers indicated that traditional oven mitts made it very difficult to hold baking
    9·1 answer
  • The primary purpose of _________ behaviors is to enhance employees’ skills and to create positive work relationships among cowor
    14·1 answer
  • During its first year of operations, Mack's Plumbing Supply Co. had sales of $580,000, wrote off $9,300 of accounts as uncollect
    13·1 answer
  • A goal taking which of these lengths of time to achieve is most likely to be a
    6·2 answers
  • According to the small business administration, over 50 percent of all small businesses are home based. true false
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!