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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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the relationship between management and labor from one of conflict to one of cooperation.

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April 30 May 31
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Solution:

The record entry in accounting is the reporting of a report in an accounting document that displays the company's costs and credit balances. The amount of the payments must be equivalent to the sum of the credits otherwise the journal submission must be treated as unbalanced.

Raw material: a fundamental substance in its natural, changed or semi-managed condition, used as a contribution to the cycle of production for the eventual modification or transformation into a finished decent substance.

                                    Pass journal entry

Particular                                                Debit ($)           Credit ($)

Raw material inventory  (WN1)              210,000

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Factory overhead                                  15,000

           Raw material inventory                                       15,000

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