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ehidna [41]
3 years ago
12

Slotkin Products purchased a machine for $65,000 on July 1, 2017. The company intends to depreciate it over 8 years using the do

uble-declining balance method. Salvage value is $5,000. Depreciation for 2017 is A) $8,125 B) $15,000 C) $32,500 D) $14,219
Business
1 answer:
frez [133]3 years ago
7 0

Answer:

A) $8,125

Explanation:

Note Slotkin Products uses the double-declining balance method. Under the double-declining balance method depreciation expense is calculated as :

Annual depreciation expense = 2 x SLDP x BVSLDP

where,

SLDP = 100 ÷ Useful life

         = 12.5 %

and

BVSLDP = Cost in first year or Book Value for other succeeding years =

therefore,

Annual Depreciation expense = 2 x 12.50 % x $65,000 = $16,250

thus,

Partial depreciation from July 1, 2017 to Dec 31, 2017 - 6 months will be :

Depreciation expense = $16,250 x 6/12 = $8,125

Conclusion :

Depreciation for 2017 is $8,125

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Answer:

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Explanation:

Data provided in the question

Borrowed amount from the bank = $90,000

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3 years ago
A(n) __________ is one that appears to be an agreement but lacks an essential requirement for validity and enforceability. Multi
Iteru [2.4K]

A document that purports to be an agreement but does not include all necessary terms is known as a void contract. Therefore, choice 3 is right.

<h3>What do you mean by a contract?</h3>

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A formal contract that is effectively void and unenforceable from the moment it is created is known as a void contract.

Hence, the correct option is Void contract to be filled in given blank

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3 0
2 years ago
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lianna [129]

Answer:

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Explanation:

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3 0
3 years ago
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mariarad [96]

Answer:

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Explanation:

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