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katrin2010 [14]
2 years ago
8

On January 1, Enco Co. purchases a milling machine for $15,000. The machine is expected to last seven years and have a salvage v

alue of $1,000. Assuming the company uses the straight-line method, depreciation expense should be $_______ per year.
Business
1 answer:
Luda [366]2 years ago
6 0

Answer:

$2,000

Explanation:

Depreciation: The depreciation is a non-cash expense that shows a decrements in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement.

The computation of the depreciation expense under the straight line method is shown below:

= (Original cost of milling machine - salvage value) ÷ (expected useful life)

= ($15,000 - $2,000) ÷ (7 years)

= ($14,000) ÷ (7 years)  

= $2,000

In this method, the depreciation is same for all the remaining useful life

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Answer:

the correct answer is C.  technical knowledge.

Explanation:

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Answer

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3 0
3 years ago
Starlight Drive-Ins borrowed money by issuing $3,000,000 of 7% bonds payable at 98.5.RequirementsR1. How much cash did Starlight
Sophie [7]

Answer:

1) cash at issuance 2,955,000

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3) cash interest 210,000

Explanation:

1) It will receive 98.5/100 of the face value

3,000,000 x .985 = $2,955,000

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3 years ago
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3 0
2 years ago
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