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Inessa05 [86]
2 years ago
14

CHEGG On November 1, 2021, Ivanhoe Company places a new asset into service. The cost of the asset is $70000 with an estimated 10

-year life and $10000 salvage value at the end of its useful life. What is the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation
Business
1 answer:
e-lub [12.9K]2 years ago
7 0

Answer:

The answer is "6,000".

Explanation:

Depreciation per year:

=\frac{(70000 - 10000)}{10}\\\\=\frac{60000}{10}\\\\ = 6,000

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Answer:

Total general and administrative expenses           $

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Explanation:

The total general and administrative expenses include administrative salaries, rent on administrative building and miscellaneous administrative expenses.

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drek231 [11]

Answer:

b. $2,000

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