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
photoshop1234 [79]
3 years ago
15

Partial-Year Depreciation Sandblasting equipment acquired at a cost of $42,000 has an estimated residual value of $6,000 and an

estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31, 20Y5. a. Determine the depreciation for 20Y5 and for 20Y6 by the straight-line method. Depreciation 20Y5 $fill in the blank 1 20Y6 $fill in the blank 2 b. Determine the depreciation for 20Y5 and for 20Y6 by the double-declining-balance method.
Business
1 answer:
Deffense [45]3 years ago
4 0

Answer:

A. Depreciation expense in 20Y5 = $900

Depreciation expense in 20Y6 = $3,600

B. Depreciation expense in 20Y5 = $2800

Depreciation expense in 20Y6 =$7840

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($42,000 - $6,000) / 10 = $3,600

The depreciation expense would be $3600 each year except in 20Y5. when the equipment was used from October to December which is 3 months

Depreciation expense in 20Y5 = 3/12 x $3600 = $900

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  = 2/10 = 0.2

Depreciation expense in 20Y5 = 0.2 x $42,000 = $8,400

But the equipment was only used for 3 months, so we would divide the figure above by 3

$8400 / 3 = $2800

Depreciation expense in 20Y5 = $2800

Depreciation expense in 20Y6 = book value in the beginning of 20Y6 x depreciation expense

Book value = cost of the asset - depreciation expense in 20Y5

$42,000 - $2800 = $39,200

Depreciation expense in 20Y6 = $39,200 x 0.2 = $7840

You might be interested in
In applying the high-low method, what is the fixed cost? month miles total cost january 80,000 $144,000 february 50,000 120,000
kupik [55]
The high and low levels of activity are 90,000 miles in April and 50,000 miles in February. The costs at these two levels are $195,000 and $120,000, re-spectively. The difference in costs is $75,000 ($195000-120000), and the difference in miles is 40,000 (90000-50000). Therefore, variable cost per unit is $1.875computed as follows.
75000÷40000=1.875

Determine the fixed costs by subtracting the total variable costs at either the high or the low activity level from the total cost at that activity level
Variable cost=1.875×50,000=93,750

fixed cost=120,000−93,750=26,250


5 0
3 years ago
What was ireland's greatest export during the 1840s?
Viefleur [7K]
People was the greatest export
8 0
2 years ago
Read 2 more answers
The Coffee Express company is located in a business district with few customers on the weekend. To attract customers on Saturday
emmainna [20.7K]

Answer:

c. dynamic pricing.

Explanation:

Dynamic pricing is when the price of a product is not fixed but flexible. Prices change based on changes in demand. It is also known as surge pricing or demand pricing.

The Coffee Express company reduces its prices on the weekends due to a fall in demand. This is Dynamic pricing.

Cross price elasticity measures the degree of responsiveness of quantity demanded of a good to changes in the price of another good.

The income effect measures how consumption and demand for a product changes when real income changes.

The substitution effect measures how a consumer subsistuites one good for another good when there's a change in price.

5 0
3 years ago
Robert??? I need to ask you something ​
ELEN [110]

Answer:

i'm not sure this is the right place to ask him if you want to ask him in private

Explanation:

4 0
2 years ago
Emily, a college student, reads an article in Money magazine. The author has a degree in finance. The article is about getting a
Mashutka [201]
The answer that would best complete the given statement above would be the first option. <span>Emily, a college student, reads an article in Money magazine. The author has a degree in finance. The article is about getting a home equity loan. This information is RELIABLE AND RELEVANT. Finance relates not only how to manage money but also how to acquire needed funds. </span>
8 0
3 years ago
Read 2 more answers
Other questions:
  • Managers involved in negotiation should:
    12·1 answer
  • Productivity is the
    15·1 answer
  • Suppose real GDP for a country is $1,200 billion. The GDP price index is 114.6. There are 25 million workers who work 36 hours p
    8·1 answer
  • On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $113 million. The bonds mature
    8·1 answer
  • The price of apples falls. what happens in the market for apple pies?
    5·1 answer
  • Step 8 of 8
    15·1 answer
  • Schweitzer realized that in many cases individuals could only accomplish direct human service in collaboration with official org
    6·1 answer
  • Which of the following statements is most accurate regarding sufficient and appropriate documentation?
    13·1 answer
  • What part of the cover letter explains how the applicant’s qualifications meet the needs of the company?
    11·2 answers
  • No entries shall be allowed for district meets which are not submitted to the director on or before the ____ day before the firs
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!