Answer:
a) $7,488
Explanation:
depreciation expense per year:
year 1 = $39,000 x 20% = $7,800
year 2 = $39,000 x 32% = $12,480
<u>year 3 = $39,000 x 19.20% = $7,488 ⇒ third year</u>
year 4 = $39,000 x 11.52% = $4,492.80
year 5 = $39,000 x 11.52% = $4,492.80
year 6 = $39,000 x 5.76% = $2,246.40
IN order to calculate MACRS depreciation, just multiply the assets depreciable value times the depreciation percentage.
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Answer:
Dr Accounts payable 2,940
Dr Purchase discounts lost 60
Cr Cash 3,000
Explanation:
The original invoice was recorded as:
Dr Merchandise inventory 5,880
Cr Accounts payable 5,880
When half the merchandise was returned:
Dr Accounts payable 2,940
Cr Merchandise inventory 2,940
When the invoice was paid after the discount period had expired:
Dr Accounts payable 2,940
Dr Purchase discounts lost 60
Cr Cash 3,000
<span>This is a true statement. When the supply of notebooks is decreased in the market, this would consequently cause the quantity that is supplied or available to simultaneously go down, despite the fact that the demand remains unchanged as a result of continued need for the item.</span>
