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
Ira Lisetskai [31]
3 years ago
11

Hamill Company purchased equipment on January 3rd, 2022, for $70,000. The equipment is expected to be used for four years and 12

,000 hours (4,000 hours in the first year, 3,000 hours in year 2, and 2,500 per year for each of the last two years). Hamill hopes to sell the asset for $5,000 at the end of its useful life. Using the double-declining-balance method of depreciation, what amount of depreciation expense will Hamill report on the income statement for the year ended December 31st, 2022
Business
1 answer:
Stels [109]3 years ago
5 0

Answer:

Annual depreciation= $32,500

Explanation:

Giving the following information:

Purchase price= $70,000

Salvage value= $5,000

Useful life= 4 years

<u>To calculate the annual depreciation under the double-declining-balance method, we need to use the following formula:</u>

<u></u>

Annual depreciation= 2*[(book value)/estimated life (years)]

<u>2022:</u>

Annual depreciation= 2*[(70,000 - 5,000) / 4]

Annual depreciation= $32,500

You might be interested in
If a business experiences wide fluctuations, it is wise to make shortlong range forecasts.
Novay_Z [31]
The business cycle is the fluctuation in economic activity that an economy experiences over a period of time. A business cycle<span> is basically defined in terms of periods of expansion or recession.


</span>From a conceptual perspective, the business cycle<span> is the upward and downward movements of levels of GDP (gross domestic product) and refers to the period of expansions and contractions in the level of economic activities (</span>business<span> fluctuations) around a long-term growth trend .</span>
5 0
3 years ago
Read 2 more answers
When women are chosen for leadership positions over units or departments in crisis, this is breaking the glass cliff, because wo
stellarik [79]
It refereed to as breaking the glass cliff BECAUSE THE CHANCE OF ANY LEADER FALLING IN SUCH A POSITION IS HIGHER. The probability of falling and failing in an higher position during a crisis is very high and that is why it is described as 'breaking the glass cliff'. The glass cliff refers to the phenomenon of  women been more likely to rise to positions of organisational leadership and to succeed in the position during crisis than in the time of peace.
6 0
3 years ago
In the models that describe population growth, r stands for __________.in the models that describe population growth, r stands f
Julli [10]
<span>In the models that describe population growth, R stands for per capita population growth rate. The per capital growth rate is determined by the number of births and deaths within a city, state or country. In the models, the R will represented these numbers. </span>
4 0
4 years ago
Describe how this parking lot can be interpreted as being a queueing system. In particular, identify the customers and the serve
Karolina [17]

Answer: a. Car Drivers

b. parking spaces

c. Parking

Explanation: A queuing system is a mathematical model used in congestion control. Similar to the physical queues we use daily, it assigns resources (or coffee) to the users of a service based on the arrival time.  

A parking lot provides customers (car owners/drivers) with the service of packing their car in an area designated for that sole purpose, so that they don’t get a parking ticket for example.

Here the car drivers are the customers, and the parking spaces available can be viewed as the server. One of the limiting factors in a queuing system is the server. When the servers are idle, service is provided without the need to queue. This changes when they are occupied. When we compare a parking lot to a queuing system, the available spaces are the limiting factor.

4 0
4 years ago
Jennifer's two favorite flavors of soda are cola and lemon-lime. On a normal week, Jennifer bought 3 cola
irina [24]
I got 2 that’s what I got
5 0
3 years ago
Other questions:
  • The safe-harbor provision:​ a. ​none of the above b. ​is part of SOX. c. ​provides lawyers with protection from "up the ladder"
    8·1 answer
  • Martha Manufacturing produces a single product that sells for $80. Variable costs per unit equal $32. The company expects total
    7·1 answer
  • If expected return is less than required return on an​ asset, rational investors will​ ________.
    8·1 answer
  • Franklin Company issued a $40,000 note to the Mercantile Bank on August 1, Year 1. The note carried a one-year term and a 12% ra
    5·1 answer
  • What does purchasing insurance for a business reveal about the business owner’s attitude toward financial risk?
    11·1 answer
  • Beginning inventory, purchases, and sales data for dvd players are as follows: november 1 inventory 120 units at $39 10 sale 90
    9·2 answers
  • The owner of the land that gains the benefit in easements appurtenant is the (select one):
    5·1 answer
  • Bolka Corporation, a merchandising company, reported the following results for October: Sales $ 413,000 Cost of goods sold (all
    5·1 answer
  • A piece of medical equipment costs $350,000, has a useful life of 10 years and a salvage value of 10 percent of the original pur
    6·1 answer
  • Which of the following is not a factor of production
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!