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kykrilka [37]
2 years ago
15

(4 pts) An inspecting and profiling web controller that costs $40,000 has a life of 8 years with a $5,000 salvage value. The est

imated annual operating and maintenance cost is $3,700 per year. Use classical straight line depreciation to determine the annual depreciation at the end of year 5.
Business
1 answer:
Inessa [10]2 years ago
6 0

Answer: $4,375

Explanation:

Annual Depreciation at end of year 5 is the same as every year as this is classical straight line depreciation.

= (Cost - Salvage value) / Useful life

= (40,000 - 5,000) / 8

= $4,375

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Assume that cash is paid for rent to cover the next year. The appropriate debit and credit are:
vitfil [10]

Answer:

The correct answer is letter "B": Debit Prepaid Rent, credit Cash.

Explanation:

Prepaid rent is the rent paid in advance. Usually, rent payments are made every month by the beginning of the month but other timeframes can also be agreed upon the lease. <em>Prepaid rent is debited to prepaid assets and credited to accounts payable. When the check for the payment is cut, accounts payable is debited and a cash account is credited.</em>

4 0
3 years ago
On June 16, 1995, the DJIA closed at $4,510.79. Assume the index lost 135 points on the next trading day. Compare that to a 500-
lora16 [44]

Answer:

The occurrence would be more impactful in 1995 as the % drop is higher

Explanation:

In 1995, % change in DJIA = 135 / 4510.79 = 0.029928 = 2.99%

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7 0
3 years ago
Establishing general ledger accounts opening balances will always be zero true or false
Inessa [10]

True, When establishing general ledger accounts opening balances will always be zero. A ledger is a full record of all transactions over the lifetime of a company. When the company is first starting out, there is a zero balance because transactions have not been put on the ledger yet. The longer the company is in business, the more transactions there will be on the ledger.

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3 years ago
Patent laws create a dilemma. The idea behind patent protection is to provide inventors, entrepreneurs, and firms an incentive t
solniwko [45]

Reducing the duration of patent law protection. This would allow firms to recover the costs associated with developing a new product but prevent firms from earning outlandish profits.

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Explanation:

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3 years ago
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