1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
When Damon filled out a survey for the sporting goods store he favors, it asked him to respond to items that asked for his agree
Andrei [34K]

Answer:

The correct answer is C) self-designated.

Explanation:

The self-designated method refers to the influence exerted by people close to another against a purchase decision, for which it is determined whether it directly influences communication on a characteristic of the product that ultimately ends up causing an informed decision. This process tries to divide people who exert influence and those who do not, in order to determine the type of factor that is part of this process.

7 0
4 years ago
At the high and low levels of activity during the month, direct labor hours are 90,000 and 40,000, respectively. The related cos
andre [41]

Answer:

The fixed cost at any level of activity is $48,000 while the variable cost per unit at any level of activity is $1.30

Explanation:

The total cost is a function of the fixed and variable cost. Whilst the fixed cost does not change at a certain range of activities level, the variable cost changes as the level of activities(units produced or sold).

Using the high and low levels of activities given, let the variable cost per unit be v and the fixed cost F

for the high level,

F + 90,000v = 165,000

For the low level

F + 40,000v = 100,00

Solving both equations simultaneously,

50,000v = 65,000

v = $1.30

F + 40,000($1.30) = 100,000

F = 100,000 - 52,000

F = $48,000

5 0
3 years ago
Occasionally, _________________ may lead to pure monopoly; in other market conditions, they may limit competition ______________
makvit [3.9K]

Occasionally, barriers to entry may lead to pure monopoly; in other market conditions, they may limit competition to a few oligopoly firms

<h3>Do barriers to entry exist in a pure monopoly?</h3>

Due to entrance restrictions that deter prospective rivals, firms acquire monopolistic power. Barriers to entry, or conditions that make it difficult or impossible for potential competitors to participate in the market, give monopolies their market strength.

The four main elements of monopoly are: (1) a single business controlling the entire output of a market; (2) a distinctive product; (3) barriers to admission and departure from the industry; and, frequently (4) specialised knowledge about production methods that are not available to other potential producers.

Learn more about monopoly refer

brainly.com/question/13276400

#SPJ4

4 0
1 year ago
Why does switerland import so many goods fro indonesia such as textiles, garments, furniture, and agricultural products?
Step2247 [10]
The answer to this question would be A because Indonesia produce goods  cheaper than Switzerland can make them this is because the labor is cheaper.Sorry for the late answer. 
4 0
4 years ago
Some employees in an organization want to be on profits while others want to focus on doing the maximum good for the maximum num
Dominik [7]

Answer:

Process Conflict

This is the type of conflict that occurs among the team members due to the difference in opinions, on how work should be completed.

Explanation:

Organizational Conflict is described as a state of disagreement or misunderstanding, resulting from the actual or perceived dissent of needs, beliefs, resources, and relationships between the members of the organization. At the workplace, whenever, two or more persons interact, conflict occurs when opinions with respect to any task or decision are in contradiction.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Marston acquired assets for $100,000. At the end of year 3, the assets had accumulated depreciation of $40,000. An impairment lo
    15·1 answer
  • Who advanced both preservation and managing resources sustainably to found the discipline of wildland management used in the Uni
    11·1 answer
  • What are the determinants of demand and provide the definition and example of each.​
    10·1 answer
  • What is actually considered a benefit in economics?
    12·1 answer
  • From where do we get our own identity card?
    10·1 answer
  • Which of the following is NOT a cost typically associated with owning a car?
    9·1 answer
  • HELP PLEASE
    10·2 answers
  • Consider the P/E ratios of the following companies: Company A: 7.4 Company B: 11.3 Company C: 14.8 Company D: 9.1 Among these fo
    14·1 answer
  • n the theory of perfect competition, the assumptions of many buyers and sellers, the production of a homogeneous product, and th
    5·1 answer
  • Review each of the following statements to determine which is correct regarding the importance of assessing a company's risk of
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!