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
svp [43]
3 years ago
9

El Tapitio purchased restaurant furniture on September 1, 2021, for $35,000. Residual value at the end of an estimated 10-year s

ervice life is expected to be $5,000. Calculate depreciation expense for 2021 and 2022, using the straight-line method, and assuming a December 31 year-end. (Do not round intermediate calculations.)
Business
1 answer:
Romashka-Z-Leto [24]3 years ago
3 0

Answer and Explanation:

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

Formula to be used:

= (Purchase cost - salvage value) ÷ (estimated service life)

For 2021

= ($35,000 - $5,000) ÷ (10 years)

= $3,000

For 4 months, it would be

= $3,000 × 4 months ÷ 12 months

= $1,000

And, for the year 2021, it would be the same i.e. $3,000

You might be interested in
Alexis Company was started in Year 1. At the end of Year 1 the Company had the following accounting equation.Assets = Liabilitie
swat32

Answer:

Company's assets at the end of Year 2 were provided by creditors = 20%

Explanation:

<u>Calculation of Cash at the end of Year 2 </u>

Cash balance at the end of Year 1     $600

Less: Paid off to notes payable          ($500)

Add: Earned cash revenue                 $700

Less: Paid cash expenses                   ($400)

Less: Paid cash dividend                     <u>($100)</u>

Cash balance at the end of Year 2    <u>$300</u>

Notes payable at the end of Year 2 = Beginning balance - Paid off

= $1,000 - $500

= $500

<u>Calculation of Notes Payable at the end of Year 2 </u>

Notes Payable at the end of Year 1     $1000

Less: Paid off to notes payable            <u>($500)</u>

Notes Payable at the end of Year 2 <u>$500</u>

Total assets at the end of Year 2 = Cash + Land

= $300+2200

= $2500

Creditors at the end of the Year 2 (Notes payable) = $500

Company's assets at the end of Year 2 were provided by creditors = Creditors * 100 / Total assets

= $500 * 100 / $2500

= 20%

5 0
2 years ago
In the context of a production process such as a manufacturing plant, what is the technique used to identify all of the value-ad
andre [41]

Answer: Value stream mapping

Explanation:

Value stream map is a visual representation of the steps that were taken in a process from the start of the process till the moment it gets to the customer.

The technique is used in the identificstion of all of the value-adding as well as non-value-adding processes that materials are subjected to within a plant, from raw material coming into the plant through delivery to the customer.

6 0
3 years ago
A recession within a nation will _________ imports directly, but the impact on the national economy is negative.
katen-ka-za [31]

A recession within a nation will <u>reduce</u> imports directly, but the impact on the national economy is negative.

Monetary policy. monetary policy consists of the steps the central bank of a nation can take in order to regulate the nation's money supply. For example, a central bank might reduce interest rates during a recession in order to make loans more readily available to other banks and thus stimulate economic recovery.

During a recession, the economic struggles, people lose work, companies make fewer sales, and the country's overall economic output decline. The point at which the financial system officially falls right into a recession relies upon an expansion of things.

Monetary policy can offset a downturn due to the fact that decreased interest rates reduce consumers' cost of borrowing to shop for large-ticket objects such as cars or homes. For firms, the economic policy also can reduce the value of an investment.

Learn more about Monetary policy here brainly.com/question/13926715

#SPJ4

4 0
2 years ago
What htcn certification level requires candidates have three years of experience in computing investigations for law enforcement
prohojiy [21]

The answer is "Certified Computer Forensic Technician, Basic".


Certified Computer Forensic Technician, Basic is Three (3) years experience specifically identified with the scientific procurement and examination of computerized gadgets including yet not restricted to hard drives, tablets or potentially phones while utilized by a law authorization office or enterprise.  

Successfully complete an aggregate of forty (40) hours preparing course(s) for the measurable obtaining and investigation of hard drives, tablets or potentially PDAs given by an affirmed office, association or organization.  

Give an account report itemizing your experience got from the measurable obtaining and investigation of computerized gadgets including however not restricted to hard drives, tablets or potentially phones of no less than ten (10) scientific cases while utilized by a law implementation office or company.

4 0
2 years ago
Sam, the owner of a toy store, dies unexpectedly at the age of 56. His lifelong business associate, Paul, is appointed the admin
Nostrana [21]

Answer:

b. An oral statement such as this is not enforceable because it is outside the Statute of Frauds.

Explanation:

The statute of frauds (SOF) is a legal concept that requires certain types of contracts to be executed in writing. Among others, these typically include those for the sale of land, of any goods over $500 in value, and contracts of a year or more in length.

The contracts that must adhere to the statutes of fraud are Collateral contracts in which a person promises to answer for the debt or duty of another, or guaranty contracts are required to be written. Prenuptial agreements and promises made in consideration of marriage must adhere to the statute of frauds.

3 0
3 years ago
Other questions:
  • Lance Brothers Enterprises acquired $720,000 of 3% bonds, dated July 1, on July 1, 2016, as a long-term investment. Management h
    13·2 answers
  • Fiscal policy lags:_________.
    8·1 answer
  • Your parents' income will be used to determine what your insurance will cost.​
    15·1 answer
  • Jared drives his car knowing that the brakes are defective and has an accident in which the car is damaged and he is injured. He
    6·1 answer
  • Risk identification is determining which risks may adversely affect the development of the project work breakdown structure and
    12·1 answer
  • Herman Miller values employee characteristics such as integrity and trust, which considers such qualities to be important ______
    11·1 answer
  • The two biggest drawbacks or disadvantages of unrelated diversification are:___________.
    8·1 answer
  • quizlet If a country can produce more of a good or service, it has a(n) advantage. If the country can produce a good or service
    5·1 answer
  • What strategy would a bookkeeper utilize to make sure each column of debits and credits have similar totals?.
    8·1 answer
  • What is the main reason why entrepreneurs?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!