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qaws [65]
2 years ago
7

Jackson Implements, Inc. uses straight-line depreciation for an item of equipment that cost $135,000, had a salvage value of $15

,000, and had a six-year useful life. Determine the amount of depreciation to be charged against the machine during each of the six years of its useful life using straight line depreciation. Group of answer choices $15,000 $25,000 $20,000 $18,000
Business
1 answer:
ch4aika [34]2 years ago
3 0

Answer:

the depreciation that should be charged over the useful life each year is $20,000

Explanation:

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

= (Purchase cost of an equipment - residual value) ÷ (useful life)

= ($135,000 - $15,000) ÷ 6 years

= $120,000 ÷ 6 years

= $20,000

hence, the depreciation that should be charged over the useful life each year is $20,000

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2 years ago
What kind of value chain can be described as purchases being made by the retailer from the manufacturer and then the retailer se
shepuryov [24]

Answer:

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2 years ago
ABC Company leased equipment to Best Corporation under a lease agreement that qualifies as a finance lease. The cost of the asse
alexandr402 [8]

$12120 is the annual amortization expense

<u>Explanation:</u>

The following formula is used to calculate the annual depreciation expense that will be recorded in the books of accounts

Depreciation = ( cost of the asset minus salvage value) divide by number of years.

Given data in the question: number of years = 10, cost of the asset = $124000, salvage value = $28000

Putting the figures in the formula,

Depreciation expense = ($124000 minus $28000) divide by 10

After solving, we get = $12120

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3 years ago
You own a $36,800 portfolio that is invested in Stocks A and B. The portfolio beta is equal to the market beta. Stock A has an e
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Answer:

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3 years ago
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Answer:

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