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3 years ago

The following information is available on a depreciable asset owned by Mutual Savings Bank:___________.

Business

1 answer:

Sati [7]3 years ago

8 0

Answer and Explanation:

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

= (Purchase cost - residual value) ÷ (Remaining life left)

= ($61,300 - $5,900) ÷ ( 8 - 2)

= $55,400 ÷ 6 years

= $9,233.33

Now for the six months it would be

= $9,233.33 × 6 months ÷ 12 months

= $4,616.67

The asset turnover is the turnover that comes by dividing the revenue from the average of the total assets

Here as per the given option the second option is correct as it correctly represents the asset turnover

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Answer:

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4 years ago

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4 years ago

Suppose Hunt Corporation has Accounts receivables of $65,000, Furniture totaling $205,000, and Cash of $52,000. The business has

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Answer:

Stockholders’ equity is $132,000

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3 years ago

High Step Shoes had annual revenues of $192,000, expenses of $107,200, and dividends of $20,800 during the current year. The ret

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Answer:

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Preparation of what The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:

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(To close the Income Summary account )

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3 years ago