The amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.
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What is depreciation expense?</h3>
- Depreciation expense is the cost of a depreciated asset for a specific period, and it reveals how much of the asset's value was used up in that year.
- Accumulated depreciation is the entire amount of depreciation expense given to an asset since it was placed in service.
- A business spends $84,000 on new display racks with a useful life of 7 years (84 months) and no residual value.
- The corporation would most likely choose a straight-line depreciation technique, which would result in a $1,000 monthly depreciation expenditure ($84,000/84 months = $1,000 per month).
The straight-line technique of calculating depreciation expense is given below:
- = (Original cost - salvage value) ÷ (useful life)
- = ($173,000 - $8,600) ÷ (10 years)
- = ($164,400,000) ÷ (10 years)
- = $16,440
In this method, the depreciation is the same for all the remaining useful life.
Now for the 7 months, the depreciation expense would be:
- = $16,440 × 7 months÷ 12 months
- = $9,590
Therefore, the amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.
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The correct question is given below:
A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021, is ______.
(A) $16440.
(B)$9590.
(C)$8220.
(D)$6850.
The design is shown in the attached picture. An equilateral triangle has sides that have equal measurements. On the other hand, a vertex is the terminal point of at least two line segments. Therefore, when you join three equilateral triangles sharing a common vertex, that simply means that they have a common point.
Answer:
the present value is $88,087.08
Explanation:
The computation of the present value is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
$203,000 = Present value × (1 + 0.11)^8
So, the present value is $88,087.08
hence, the present value is $88,087.08
Answer:
Supply curve shifts to the left.
Explanation:
It is know that Florida is the biggest orange producer in America, when a hurricane rips through Florida, there is no change in demand, so the demand curve remains unaltered. As for the supply curve, the hurricane is likely to destroy orange crops causing a shortage in supply which corresponds to a shift to the left by the supply curve.
The answer is: supply curve shifts to the left.
Energy sources that will never run out. Such as, light, air, and water. But it can be ruined. I didnt Google any of this. Please give me brainliest, I just need one more to lvl up!
