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Daniel [21]
3 years ago
10

On January 1, Year 1, Parker Company purchased an asset costing $20,000. The asset had an expected five-year life and a $2,000 s

alvage value. The company uses the straight-line method. What are the amounts of depreciation expense and accumulated depreciation, respectively, that will be reported in the Year 2 financial statements
Business
1 answer:
SOVA2 [1]3 years ago
3 0

Answer:

3600

7200

Explanation:

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Cheers

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"Drew Savage is an MIS manager for an international consulting firm. Drew travels to different European countries where he imple
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Efficiency metrics.

Explanation:

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4 years ago
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yuradex [85]

Answer:

  • The federal government reserves the power to print money.
  • By printing money to pay its debts, the government decreases the value of money and causes the inflation tax.

Explanation:

As per the Constitution, the Federal government reserves the sole right to print currency. This ensures that all the states have a stable medium of exchange thereby allowing goods and services to flow across states undisturbed.

When the government prints money to enable it pay off its debt, the value of the currency decreases because the supply of money has increased relative to its demand. As a result, the currency will only be able to buy less than it was able to buy before thereby creating a sort of inflation tax because people would be paying an extra amount in order to purchase goods and services

4 0
3 years ago
Sacha purchased land in 2010 for $35,000 that she held as a capital asset. This year, she contributed the land to the Boy Scouts
WINSTONCH [101]

Answer:

maximum deductible contribution this year = $27000

so correct option is B) $27,000

Explanation:

given data

capital asset = $35000

market value of the land = $40,000

gross income = $90,000

to find out

maximum deductible contribution this year

solution

we get here maximum deductible contribution this year that is express as

maximum deductible contribution this year = Adjusted gross income × capital gain property    ...............1

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maximum deductible contribution this year = $90,000 × 30%

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