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Mice21 [21]
3 years ago
9

A company issued a purchase order on December 15, year 1, for a piece of capital equipment that costs $100,000. The capital equi

pment was shipped from the vendor on December 31, year 1, and received by the company on January 5, year 2. The equipment was installed and placed in service on February 1, year 2. On what date should the depreciation expense begin?
Business
1 answer:
anyanavicka [17]3 years ago
5 0

Answer: Option D

Explanation: Depreciation refers to the wearing and tearing of asset that occurs due to the usage of it. This is usually calculated on fixed assets having finite useful life.

Therefore, depreciation can occur only after the asset is put into use for business operations and is generating revenue to the company. In the given case the asset purchased has been into use on February 1 , year 2, therefore depreciation should begin from this date.

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His lesson starts on time (change into negative)​
Dmitrij [34]

Answer:

His lesson started late

Explanation:

3 0
3 years ago
Read 2 more answers
Farah Snack Co. has earnings after taxes of $108,750. Interest expense for the year was $20,000; preferred dividends paid were $
mars1129 [50]

Answer:

$0.9

Explanation:

Data provided in the question:

Earnings after taxes = $108,750

Interest expense for the year = $20,000

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Common stock outstanding = 100,000 shares

Now,

Earning available on common stock

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= $108,750 - $18,750

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Therefore,

Earnings per share on the common stock

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7 0
3 years ago
It is estimated that between 1899 and 1924, about 2.1 million italians left the u.s. while almost ____ million arrived.
Semmy [17]
<span>About 3.8 million persons arrived in Italy during the period 1899 and 1924. This amount is far greater that the amount that left during that period.</span>
5 0
3 years ago
Mallory Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 1
Ghella [55]

Answer:

The answer is D

Explanation:

Solution:

Recall that:

Malloy Furniture purchases two products: Big shelves B and Medium shelves M

The cost of big shelf is =$500

The space required = 100 cubic feet

The cost of each medium shelf is =$300

Storage space = 90 cubic feet,

Now,

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5 0
3 years ago
Emily purchased a building to store inventory for her business. The purchase price was $895,000. Emily also paid legal fees of $
Ugo [173]

Answer:

Emily’s cost basis in the new building is $900,750.

Explanation:

Cost basis in the new building

= Purchase price of building + legal fees + Cost of interior design

= $895,000 + $450 + $5,300

= $900,750

Therefore, Emily’s cost basis in the new building is $900,750.

3 0
3 years ago
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