Most private enterprise mainly run to gain profit
Chapter 7 bankruptcy is a type of bankruptcy that requires the liquidation of most of the debtor's assets. It is the most common of the bankruptcy were may debts are forgiven and a variety of assets are sold, Chapter 7 bankruptcy is favored by individuals. Under of this bankruptcy, the debtor's assets are sold off to pay the lenders.
Answer: The company will record a depreciation of $375 as depreciation.
We begin by calculating the depreciable value of the asset.


The depreciable value is $12,000.
The useful life of the asset is 8 years from the date of purchase.
So, the depreciation for one year will be
.
Hence the depreciation for one year is
Since the equipment was purchased at the end of September, we can only charge depreciation for 3 months on 31st December.
So, the depreciation expense will be 