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tatuchka [14]
4 years ago
15

On January​ 2, 2019, Kornis Corporation acquired equipment for $1,000,000. The estimated life of the equipment is 5 years or 100

,000 hours. The estimated residual value is $20,000.
What is the balance in Accumulated Depreciation on December​ 31, 2019, if Kornis Corporation uses the double−declining−balance method of​ depreciation?
Business
1 answer:
Scrat [10]4 years ago
5 0

Answer:

$392,000

Explanation:

Double-declining-balance method is (2/useful life) x cost -accumulated depreciation)

cost = purchase price - residual value

2/5 x( 1000000-20000)

= $392,000

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Diversification in corporate is a strategy that a company implement to increase market shares and sale volume by introducing new product in another industry and market different from the one they are operating.

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3 years ago
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olga55 [171]

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FALSE

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Contrariwise, users of business entity financial reports, which has to do with understanding the financial performance of business organisations, do so, to understand if the purpose of business establishment is being achieved which is the profit-maximization.

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