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olchik [2.2K]
3 years ago
11

On June 30 of the current year the company purchased Equipment costing $110,000, having a salvage value of $10,000 and a 5-year

life. The company uses the straight line method of depreciation. On December 31, the adjusting entry would include a
Business
1 answer:
polet [3.4K]3 years ago
5 0

Answer:

$10,000

Explanation:

Given that

Cost of equipment = 110,000

Salvage value = 10,000

Useful life = 5 years

Using straight line method

Depreciation = cost of equipment - salvage value ÷ useful years

= 110000 - 10000 ÷ 5

= 100000 ÷ 5

= $20000

Thus

By December 31

Entry of depreciation = 6/12 × 20000

= $10,000

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Natural monopoly

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Your grandfather made an investment of $4,000 the day you were born, as such starting to earn returns immediately. His assumptio
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Answer:

Acumulated value=57,775.84

Explanation:

this problem can be solved applying the concept of annuity, keep in mind that an annuity is a formula which allows you to calculate the future value of future payments affected by an interest rate.by definition the future value of an annuity is given by:

s_{n} =P*\frac{(1+i)^{n}-1 }{i}

where s_{n} is the future value of the annuity, i is the interest rate for every period payment, n is the number of payments, and P is the regular amount paid

But there is an special thing to keep in mind and is the initial payment so we must to calculate the 4,000 in the future so we have:

Acumulated value=s_{n} +P*(1+i)^{n}

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