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
AlladinOne [14]
3 years ago
5

Sadler Corporation purchased equipment to be used in manufacturing. The purchase was made at the beginning of 2015 by paying cas

h of $150,000. The equipment has an estimated residual value of $10,000 and an expected useful life of 10 years. At the beginning of 2017, Sadler concluded that the total useful life of the equipment will be 8 years rather than 10, and that the residual value will be zero. Sadler uses the straight-line method for depreciation.
Prepare the journal entry to record depreciation on the equipment for 2016.
Business
1 answer:
il63 [147K]3 years ago
6 0

Answer:

The journals entry to record depreciation on the equipment for 2016 will be:

Debit Depreciation expense $14,000

Credit Accumulated depreciation $14,000

<em>(To record depreciation expense for Year 2016)</em>

Explanation:

Under straight-line method, depreciation expense is (cost - residual value) / Estimated useful life = ($150,000 - $10,000) / 10 years = $14,000 yearly depreciation expense. This applies to Years 2015 and 2016.

The change in the estimate in Year 2017 will not affect the depreciation expense for 2016 based on the previous parameters,

You might be interested in
how would you handle a situation in which the supervisor of another department approaches you with a strong complaint about one
djyliett [7]

Answer:

i would ask for more proof and check on that employee

Explanation:

4 0
4 years ago
Companies under ____ market structures are interdependent. _____ is a secret agreement among companies that may result from this
Ipatiy [6.2K]

If i'm correct the answer is Companies under Oligopolistic market structures are interdependent. Collusion is a secret agreement among companies that may result from this interdependence.

3 0
3 years ago
The budget director of Heather’s Florist has prepared the following sales budget. The company had $290,000 in accounts receiva
Elodia [21]

Answer:

Explanation:

1) Schedule of cash receipts:

Since 100% of account receivable is collected in the month following the month of sale, which means $290,000 will be collected in July.

2)  If there are no sales in September, amount of accounts receivable the company will report on its 3rd quarter balance sheet will be 0. Otherwise, the ending accounts receivable at the end of 3rd quarter will be = sales amount in September.

8 0
3 years ago
Read 2 more answers
A __________ represents a long-term partnership between two or more companies established to help each firm build competitive ma
Sveta_85 [38]

A<u> strategic alliance</u> represents a long-term partnership between two or more companies established to help each firm build competitive market advantages.

long-term partnership agreements regularly incorporate provisions that require consent from the opposite companions earlier than a brand new accomplice is added -- in large part to make certain that the unique harmony and electricity stays intact.

Long-time period relationships have a tendency to remain everywhere from to a few years, with couples breaking apart round this time.

A long-term partnership purchaser dating way which you paint on constructing a dating together along with your clients to create high-stage loyalty to your company. That's the exception that your commercial enterprise can get on the street to success.

Learn more about the long-term partnerships here: brainly.com/question/15913927

#SPJ4

6 0
1 year ago
All of these are pitfalls an organization should avoid in strategic planning except:_____________.1. using plans as a standard f
Tamiku [17]

Answer:

1. using plans as a standard for measuring performance.

Explanation:

Strategic planning is an important process that enables a business or an organization to have a sense of direction, goal orientation, and also enables them to evaluate and measure progress.

It is important when carrying out the strategic planning process to first focus on clarifying and developing the vision, mission and objectives of the business before moving on to strategy formulation, this helps to give a sense of direction.

In the process of strategic planning, involving key employees cannot be overemphasized. Giving key employees the chance to be involved in the planning process will enable them to connect to the business and set them up for success.

Apart from the fact that strategic planning provides a sense of direction, it also enables a business to outline goals that can be measured, hence providing a standard for measuring performance.

3 0
3 years ago
Other questions:
  • You have a $13,500 loan with a 7% interest rate and a term of 4 years what is the future value of the loan if the loan isnt paid
    7·1 answer
  • FIFO and LIFO are two common methods used to compute the depreciation of tangible assets. True or false?
    15·1 answer
  • Preparing Effective Business Presentations Getting ready for a presentation may cause feelings of anxiety. The best way to reduc
    12·1 answer
  • In forward transactions A. currency is bought and sold for delivery later that same day. B. currencies may only be exchanged at
    14·1 answer
  • The valuation of a financial asset is based on the concept of determining the present value of future cash flows that this finan
    14·1 answer
  • Which of the following is the LEAST important for providing quality customer service
    5·2 answers
  • When making a major purchase first determine your
    15·1 answer
  • Labor power is a special commodity right or wrong?
    12·2 answers
  • Betty Vinson improperly capitalized line costs at her boss's direction. Which company did she work for
    11·1 answer
  • What is the impact of 7.4 cpi on consumers
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!