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aivan3 [116]
3 years ago
15

XYZ, Inc. purchased an office building on October 1, 2020, that was put on the books at $800,000. The building is expected to be

used for 35 years and at the end of the 35 years will be sold for an estimated selling price of $100,000. XYZ closes its books at the end of every calendar year. XYZ, Inc. uses the straight-line method of depreciation. Based on this information, which of the following is correct?
a. Depreciation Expense at 12/31/20 is $20,000.
b. Accumulated Depreciation at 12/31/20 is $20,000
c. Depreciation Expense at 12/31/2021 is $5,000
d. Accumulated Depreciation at 12/31/21 is $25,000
Business
1 answer:
Alika [10]3 years ago
4 0

Answer:

d. Accumulated Depreciation at 12/31/21 is $25,000

Explanation:

Depreciable amount = $800,000 - $100,000 = $700,000

Annual depreciation expenses = $700,000 / 35 = $20,000

Depreciation expenses for 2020 (3 months i.e. Oct. 1 - Dec. 31) = $20,000 * (3 / 12) = $5,000.

Accumulated depreciation at 12/31/21 = Depreciation for 2020 + 2021 annual depreciation expenses = $5,000 + $20,000 + $25,000.

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Explanation:

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the is a multiple choice examination that evaluates the skills of the applicants for enlistment in the US military.
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The <u>ASVAB </u><span>is a multiple choice examination that evaluates the skills of the applicants for enlistment in the US military.
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3 years ago
Midwest Fabricators Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost of $
Ne4ueva [31]

Answer:

Average rate of return =  14 %

Explanation:

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6 0
3 years ago
with this type of externality, in the absence of government intervention, the market equilibrium quantity produced will be than
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The type of externality where market equilibrium quantity produced will be more than socially optimal quantity in absence of governemtn intervention is Negative externality.

Let understand that whenever a production of good or service negatively affect the unrelated third party who is not directly involved in a market transaction, it is said that negative externality exists in the scenario.

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Read more about Negative Externality here

<em>brainly.com/question/13901028</em>

7 0
2 years ago
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