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AlekseyPX
3 years ago
11

Machinery was purchased for $340,000 on January 1, 2017. Freight charges amounted to $14,000 and there was a cost of $40,000 for

building a foundation and installing the machinery. It is estimated that the machinery will have a $60,000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2018, if the straight-line method of depreciation is used
Business
1 answer:
creativ13 [48]3 years ago
4 0

Answer:

$133,600

Explanation:

Straight line depreciation expense = (cost of asset - salvage value) / number of year

Cost of asset = $340,000 + $14,000 + $40,000 = $394,000

($394,000 - $60,000) / 5 = $66,800

The amount of accumulated depreciation at December 31, 2018 =  $66,800 x 2 = $133,600

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A. moral hazard

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Jacob chose to spend the afternoon swimming rather than going to the movies any value given up from not going to the movies is t
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The primary benefit of a monetary system of exchange compared to a barter system is the increased
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3 years ago
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Prior to formulating, evaluating, and choosing a market-oriented competitive position that supports the company's aims and marketing objectives, strategic planning entails a review of the company's original strategic condition.

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1 year ago
A bank has total interest income of $62.736 million and total noninterest income of $10.077 million. This bank has total interes
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-$15.347

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Calculation for What is this bank's net noninterest income

Using this formula

Net noninterest income=Total noninterest income+(Total noninterest expenses+Loan losses)

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Therefore the bank's net noninterest income will be -$15.347

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