I'm Going To Tell You This business the one year span is really to us a two year span so its going to be double of what your looking for
Answer:
a) $9,000
b) $3,000
Explanation:
The calculation of the depreciation expense for each of the following cases
a)
As we know that
= (Purchase cost of machinery - estimated salvage value) ÷ (useful life)
= ($80,000 - $8,000) ÷ (8 years)
= ($72,000) ÷ (8 years)
= $9,000
b) Since the asset purchased as on Sep 1, 2020 so the depreciation expenses would be charged for four months i.e. From September to December.
Also at the same time we assume the books are closed as on Dec 31,2020
Therefore, the depreciation expense is
= $9,000 × 4 months ÷ 12 months
= $3,000
Answer:
B and D, $170
Explanation:
The three pictures attached shows the explanation for this problem and i promise to be so explanatory and direct. Thank you.
The correct answer is market price.
Market price is the price that you normally pay when you want to buy something. This price is usually higher than what the store that is selling it got it from the manufacturer, because it is buying the product in bulks. You as a consumer will have to pay this price when all discounts, allowances, and rebates are subtracted.
