1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Trava [24]
3 years ago
6

Cutter Enterprises purchased equipment for $57,000 on January 1, 2021. The equipment is expected to have a five-year life and a

residual value of $5,700. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be: Multiple Choice $20,520 and $33,780 respectively. $22,800 and $34,200 respectively. $20,520 and $36,480 respectively. $22,800 and $28,500 respectively.
Business
1 answer:
levacccp [35]3 years ago
5 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Purchasing price= $57,000

Useful life= five-year

Residual value= $5,700.

To calculate the depreciation expense under the double-declining balance, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(57,000 - 5,700)/5]

Annual depreciation= $20,520

Book value= 57,000 - 20,520

Book value= $36,480

You might be interested in
Which is NOT an example of an expense a) advertising b)insurance c)dividends d)depreciation
docker41 [41]

Answer:

c. dividends

Explanation:

not payable... so

7 0
3 years ago
Do lenders always accept applications for credit?
Yakvenalex [24]
NO. Lenders doesn't always accept application for credit. They always perform investigation about the financial status of the applicant. Only once the financial status of the applicant is finished reviewed and passed, the application for credit will be accepted.
4 0
3 years ago
The text reports the results of a test for the significance of the difference in average income for random samples of males and
Ne4ueva [31]

Answer:

The answer is letter D.

Explanation:

The difference is statistically significant, large, and important.

3 0
3 years ago
Philips, a multinational electronics corporation based in the Netherlands and diversified in the consumer electronics, domestic
Mekhanik [1.2K]

Answer:

c. Cultural differences, government demands, and local competitors

Explanation:

Philips organization is multinational organization and it encounters the forces of local responsiveness as follows:

Cultural differences: As it is selling electronics it will remove cultural differences as that arise, because each person irrespective of its culture will use electronics.

Government demands of the country in which the organization is set up has to be met in order to thrive and find extra support from government.

As the company is an outsider to the states it needs to evaluate the local competitors properly in order to thrive and lead in the state of Netherlands.

4 0
3 years ago
Steve goes to Tri-State University and pays $40,000 in tuition. Steve works a part-time job to pay for his schooling and has an
xxMikexx [17]

Answer:

$2,500

Explanation:

The calculation of American opportunity tax credit is shown below:-

According to the given situation, Steve's part-time job wouldn't come in between his not applying for the credit as the AGI is lower than the applying number.

Therefore, the credit would be 100% of first is

= $2,000 + 25% (Increased)

= $2,500

6 0
3 years ago
Other questions:
  • Other things equal, if there is an increase in nominal GDP, bond prices will rise. the interest rate will rise. consumption spen
    12·1 answer
  • You have just won the lottery and will receive $460,000 in one year. You will receive payments for 27 years, and the payments wi
    5·1 answer
  • You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president h
    5·1 answer
  • Victor is the recipient of $1 million from a lawsuit. Victor decides to use the money to purchase a small business in Florida. H
    11·1 answer
  • Great Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States including
    13·1 answer
  • "Zurich Company reports pretax financial income of $70,000 for 2014. The following items cause taxable income to be different th
    7·1 answer
  • Ethical analysis precedes law when it is the basis for creation of a law.
    10·1 answer
  • It is enough to describe the proposed business as a sole proprietorship in the business description
    14·2 answers
  • An unlicensed property manager can do all of the following except: Maintenance Showing units Negotiating lease terms Furnishing
    13·1 answer
  • What are two current rising or resurgent powers that the video mentions that may be planning on changing the established interna
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!