Answer:
The answer is $17,640
Explanation:
Equipment was bought on Jan. 1, 2022 for $73,500. This is the historical cost of the asset.
Residual value is $6,450. This is the amount the equipment is being expected to sell for at the end of its useful life.
Useful life is 5 years.
To know the percentage to be used for the depreciation, we have:
100percent / 5 years
= 20 percent
Double-declining is 40 percent(20 percent x 2)
Depreciation for 2021 is
$73,500 x 40 percent
= $29,400.
Carrying amount at the end of 2021 which will also be for the beginning of 2022 is $44,100 ($73,500 - $29,400)
Depreciation for 2022:
$44,100 x 40 percent
$17,640.
Therefore, the depreciation for 2022 is $17,640.
Answer: Businesses sell goods and services in product markets.
Explanation: Circular flow diagram shows the flow of goods and services from Firms to the Households and Factors of production from the Households to the Firms. The firms money from the sale of those goods and services and the households get factor payment.
Thus, Business are sell goods and services in product markets in a circular flow diagram.
Answer:
The Adjustment Entry for accrual of Interest Expense will be as follows:
Dr. Cr.
Interest Expense $840
Interest accrued Payable $840
Explanation:
Interest per day = $28
Interest expense for the Month = $28 x 30 = $840
$840 of Interest expense will be accrued at the end of the month and it should be adjusted accordingly.
Explanation:
because you are not sure how good they are at working
Either a or c it’s one of those