The following amounts were taken from the financial statements of Plant Company: 2012 2011 Total assets $800,000 $1,000,000 Net
1 answer:
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Answer: (q2 - q1).
Explanation:
A free market is an economic system whereby production of goods and services are being regulated by demand and supply forces. In this economic system, it should be noted that there's little or no intervention from the government.
If a free market were allowed in the transplanted kidney market, then the equilibrium price would be p2. The number of kidneys transplanted would increase by (Q2-Q1) compared to the number transplanted at a price ceiling of p= $0.
Answer:
Amortization for the year 2017 is $12,000
Explanation:
Given:
Estimated Useful life = 30 years
Cost of Assets on January 1, 2007 = $540,000
Now,
The Amortization per year =
or
The Amortization per year =
or
The Amortization per year = $18,000
Thus,
Accumulated amortization on January 1, 2017
= Amortization per year 18000 × Number of years from 2007 to 2017
= $18,000 × 10
= $180,000
Therefore,
The Book Value of Asset on January 1, 2017 = $540,000 - $180,000
= $360,000
also,
The Revised useful life = 30 years
Therefore,
The Amortization per year =
or
The Amortization per year =
or
The Amortization per year = $12,000
Hence,
Amortization for the year 2017 is $12,000