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
kirill [66]
3 years ago
11

A company used straight-line depreciation for an item of equipment that cost $16,950, had a salvage value of $4,200, and had a f

ive-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,860 and its total useful life was increased from 5 years to 6 years. Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life:
Business
1 answer:
madreJ [45]3 years ago
4 0

Answer:

Annual depreciation= $2,480

Explanation:

Giving the following information:

Total Purchase price= $16,950

Useful life= 5 years

Residual value= $4,200

<u>First, we need to calculate the accumulated depreciation at the end of year 3.</u>

Annual depreciation= (Total Purchase price - salvage value)/estimated life (years)

Annual depreciation= (16,950 - 4,200) / 5

Annual depreciation= $2,550

Accumulated depreciation= 2,550*3= $7,650

<u>Now, we can calculate the new depreciation expense:</u>

Depreciable value= 16,950 - 7,650= $9,300

Useful life= 3 years

Salvage value= $1,860

Annual depreciation= (9,300 - 1,860) / 3

Annual depreciation= $2,480

You might be interested in
Why is the savings account better than a checking’s account for saving money?
Lisa [10]

Because it pays a higher rate of interest.

A savings account is better than a checking account for saving money because they normally pay a higher interest rate than a checking account. Quite often, a checking account will not pay any interest at all.

7 0
3 years ago
The balance sheet of Starsky Company at December 31, 2019, includes the following. Notes receivable $36,000 Accounts receivable
Arturiano [62]

Answer:

Journal Entry

Explanation:

1. Cash Dr,                                      $136,800  

Sales Discount Dr,                         $1,200

($60,000 × 2%)

         To Accounts receivable     $138,000

(Being cash is recorded)

2. Accounts receivable Dr,            $5,300  

      To Allowance for doubtful accounts $5,300

(Being written off is recorded)

     Cash Dr,                                        $5,300  

       Accounts receivable                  $5,300

(Being payment received is recorded)

3. Allowance for doubtful accounts Dr, $17,500  

       To Accounts receivable              $17,500

(Being  written off is recorded)

4. Bad Debts expense Dr,                $14,900

=$20,000 - ($17,300 + $5,300 - $17,500)

    To  Allowance for doubtful accounts  $14,900

(Being bad debt expenses is recorded)

8 0
3 years ago
What term is used to describe the method that allows coplink to access many different databases of law enforcement agencies with
slamgirl [31]

The term is used to describe the method that allows copy link to access many different databases of law enforcement agencies with varying data fields is a multi-dimensional approach Option A

This is further explained below.

<h3>What is a multi-dimensional approach?</h3>

Generally, Because we are utilizing an appropriate and specialized way to access the data basis of law enforcement under multiple data fields, we are able to state that the described method operates under the term known as a multi-dimensional approach.

This is an approach in which the database is accessed and analyzed via numerous dimensions, or we can call data to feel categories, in order to produce appropriate results and more efficient functioning.

In summary, we may reach the following conclusion after reviewing the information presented above: the choice that was picked is the optimal response to the inquiry that was posed.

The question that was presented before has been addressed and clarified; if you have any other questions, please leave them in the comments area below.

Read more about the multi-dimensional approach

brainly.com/question/14522063

#SPJ1

5 0
1 year ago
In what way did the cotton gin contribute to the dramatic rise in production?
seropon [69]
B I believe this is the right answer
8 0
3 years ago
Splish Brothers Inc. began operations on April 1 by issuing 52,300 shares of $5 par value common stock for cash at $15 per share
Ahat [919]

Answer:

Date    Account titles and Explanation               Debit        Credit

Apr 1    Cash                                                        $679,900

                  Common stock                                                    $261,500

                  (52,300*5)

                  Paid in common stock in excess of par             $418,400

                  (52,300*$13-$5)

            (To record common stock issued)

Apr 19   Organisation expenses                         $28,900

                  Common stock                                                     $9,000

                  (1800*5)

                  Paid in common stock in excess of par              $19,900

            (To record issuance of comm1,100on stock for attorney.s fees)

Apr 19    Cash (1,100*$6)                                      $6,600

                  Preferred stock (1,100*$1)                                     $1,100

                  Paid in preferred capital in excess of par            $5,500

            (To record common preferred stock for cash)

7 0
3 years ago
Other questions:
  • What are the 5 types of insurance
    8·1 answer
  • Wehrs Corporation has received a request for a special order of 9,700 units of product K19 for $47.20 each. The normal selling p
    5·1 answer
  • Loss of network audience and the rise of cable have resulted in a new way for affiliates to receive compensation. _____________
    8·1 answer
  • _____ refers to the systematic process of regulating a company's activities to make them consistent with the expectations establ
    9·1 answer
  • The JSE provides a market where securities can be traded freely under a regulated procedure. The company acts as an intermediary
    11·1 answer
  • Tanner and Teresa share income and losses in a 2:1 ratio after allowing for salaries of $42,000 to Tanner and $60,000 to Teresa.
    8·1 answer
  • A _______ can illustrate your achievements that are difficult to display in a cover letter or resume.
    8·1 answer
  • A wheat farmer who wants to hedge the crop he plans to harvest next june should do what?
    15·1 answer
  • compass Bank is offering an APR of 0.8 %compounded daily on its savings accounts. if you deposit $2,500 today, how much will you
    8·1 answer
  • Cakery bakery receives $1,000 from a customer on august 5, 2016 for a wedding cake to be delivered on september 19, 2016. what w
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!