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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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ss7ja [257]

During the cooling off period, underwriters would be allowed to do all of the aforementioned except: b) advertise the issue.

<h3>Who is an underwriter?</h3>

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If your heart get broken by a man then his new girl threatens you what do u do???
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Answer:

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OverLord2011 [107]

Answer:

A personal budget provides <u>a detailed account</u> of income and expenses for a <u>period.</u>

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