The amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.
<h3>
What is depreciation expense?</h3>
- Depreciation expense is the cost of a depreciated asset for a specific period, and it reveals how much of the asset's value was used up in that year.
- Accumulated depreciation is the entire amount of depreciation expense given to an asset since it was placed in service.
- A business spends $84,000 on new display racks with a useful life of 7 years (84 months) and no residual value.
- The corporation would most likely choose a straight-line depreciation technique, which would result in a $1,000 monthly depreciation expenditure ($84,000/84 months = $1,000 per month).
The straight-line technique of calculating depreciation expense is given below:
- = (Original cost - salvage value) ÷ (useful life)
- = ($173,000 - $8,600) ÷ (10 years)
- = ($164,400,000) ÷ (10 years)
- = $16,440
In this method, the depreciation is the same for all the remaining useful life.
Now for the 7 months, the depreciation expense would be:
- = $16,440 × 7 months÷ 12 months
- = $9,590
Therefore, the amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.
Know more about depreciation expenses here:
brainly.com/question/25785586
#SPJ4
The correct question is given below:
A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021, is ______.
(A) $16440.
(B)$9590.
(C)$8220.
(D)$6850.
Answer:
Total amount of dividends paid over the last three years is $20500
Explanation:
The net income of the company is either retained in the company or paid out as dividends. To calculate the value of the ending retained earnings, we use the following formula,
Ending balance = Beginning balance + Net Income - Dividends
We first need to calculate the total net income for the 3 year period. The total net income for the 3 year period is, 3 * 6500 = $19500
Plugging in the available values for the ending and beginning balance of retained earnings and net income, we can calculate the value of total dividends paid for the three year period.
15000 = 16000 + 19500 - Dividends
Dividends = 35500 - 15000
Dividends = $20500
A. assessed value of the home
I hope this helps
A technique known as bug listing is one useful strategy for problem finding. A bug list is known as making a list of theings that bug you. When this list is made, you can help solve the problems that are bugging you in your life instead of dwelling on things that may never change or dwelling without changing your life.
The answer is explained in detail below
Explanation:
Labor, L = 2000; Capital, K = 3000
Labour constraint,
Capital constraint ,
Solving the equation further, we get
- The range for the relative price of cloth such that the economy produces both cloth and food is 2/3 and 2
- Low cloth production → economy will use relatively more labor to produce cloth → opportunity cost of cloth is 2/3rd units of food.
- High cloth production → economy dips on labor → taking capital away from food production → raising opportunity cost of cloth to 2 units of food.
- If relative price of cloth lies between 2/3 and 2 units of food, the economy produces both goods.
- If the price of cloth decreases below 2/3 → complete specialization in food production → low compensation for producing cloth
- If the price of cloth rises above 2 → complete specialization in cloth production → low compensation for producing food
