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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 shape of a production possibility curve is downward-sloping because ____________________. Select the correct answer below: y
Afina-wow [57]

Answer:

you can get more of one good only by giving up some of another good

Explanation:

A production possibilities frontier shows the opportunity cost of producing one good instead of another. This way, as you follow the curve, the combination of goods will vary, increasing the production of one good but deceasing the production of the other.

Opportunity costs are the benefits lost or extra costs associated to choosing one activity or investment over another alternative. Since resources are scarce, you must always give something up in order to obtain another thing, e.g. you give up your leisure time in order to study.

8 0
3 years ago
Tsao Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are plannned for the yea
Kisachek [45]

Answer:

 a) production units = 450,000

b) Amount of raw materials = 1,010,000.

Explanation:

The production budget is computed as follows;

Production budget = Sales budget + closing inventory - opening inventory

Production budget= 480,000 + 50,000 - 80,000

                              = 450,000 units

<em>The raw material purchase budget is the amount of material to be purchased to accommodate production need and inventory of materials to be kept.</em>

Purchase budget = usage budget + closing inventory - opening inventoy

Purchase budget = (2× 500,000) + 45,000 - 35,000

                       =  1,010,000.

4 0
3 years ago
On January 1, 20X4, Polar Corp. paid $104,000 for $100,000 par value, 9% bonds of Seal Corp. Seal had issued $300,000 of the 10-
Eddi Din [679]

Answer:

$14,000

Explanation:

Amount of interest expense = [(Bond issued by 'S' company x 9%) - Amount of    

                                                   premium x (unsold bonds / Bonds issued)]

                                           =  (300,000 x 0.09) - 60000/10 x 200,000/300,000

                                          =  (27,000 - 6000) x 0.66667

                                          =  21,000 x 0.66667

                                          = $14,000

                                         

 

7 0
3 years ago
Income tax is the only type of tax collected in most states within the United States. True or False?
Ratling [72]
The ansewer is False




8 0
3 years ago
Read 2 more answers
Joey realizes that he has charged too much on his credit card and has racked up $5,000 in debt. If he can pay $150 each month an
olasank [31]

Answer:

47 months

Explanation:

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PV = -5000

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N = 47 months

6 0
3 years ago
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