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
slava [35]
2 years ago
13

Adkins Bakery uses the modified half-month convention to calculate depreciation expense in the year an asset is purchased or sol

d. Adkins has a calendar year accounting period and uses the straight-line method to compute depreciation expense. On March 17, 2018, Adkins acquired equipment at a cost of $220,000. The equipment has a residual value of $43,000 and an estimated useful life of 4 years. What amount of depreciation expense will be recorded for the year ending December 31, 2018
Business
1 answer:
Dmitry_Shevchenko [17]2 years ago
4 0

Answer:

Depreciation expense= $36,875

Explanation:

Under the straight line method of depreciation, the cost of an asset less the salvage value is spread equally over the expected useful life.

<em>An equal amount is charged as annual depreciation over the life of the asset. The annual depreciation is calculated as follows:</em>

Annual depreciation:  

= (cost of assets - salvage value)/ Estimated useful life

Cost - 220,000

Residual value = 43,000

Estimated useful life = 4 years

Annual depreciation = (220,000- 43,000)/4 =44,250

Annual depreciation = 44,250.

<em>Under the half-month convention, a full month depreciation is charged where an asset is first put to at the middle month of the month. </em>

<em>Thus March 17, 2018 to December 2018 is taken to be 10 full months</em>

Depreciation expense = 44,250.× 10/12 = 36,875

Depreciation expense= $36,875

You might be interested in
Most farmers own wells and tube-wells in their farms for irrigation to increase their produce, what adverse effect can this have
Mrac [35]

Most farmers own wells and tube wells on their farms for irrigation to increase their production, which affects the water level. Thus, option B is correct.

<h3 /><h3>Who is a farmer?</h3>

A farmer is someone who does agribusiness and cultivates living things for food or natural goods like crops, cotton, etc.

The farmers would have wells and tube well on the farm because the irrigation to be much at a higher level with water reduces the water level of the ground to a significant amount which would in the future affect the soil plantation as well the soil binding capacities

There will be a large-scale depletion in the water that is present underground. Therefore, option B is the correct option.

Learn more about farmers, here:

brainly.com/question/3727896

#SPJ4

A decrease in agriculture output

B reduction of the water level

C loss of capital

D loss of soil fertility

5 0
1 year ago
Imagine that you own a property that is exactly 2.2 acres large. You want to sell your property, but your realtor tells you that
BlackZzzverrR [31]

Answer:

8,000 m²

Explanation:

you must first change the size of your lot from acres to square miles = 2.2 acres / 640 acres per square miles = 0.0034375 square miles

now we can convert to square kilometers = 0.0034375 miles x 2.56 square kilometers per square miles 0.0055 square kilometers

there are 1,000,000 m²´per km², so you have 0.0088 km² x 1,000,000 = 8,800 m²

7 0
2 years ago
Your supervisor has come to you with the following list of expenditures for the year and is asking you whether they should be ca
Trava [24]

Answer:

Capitalized Expenditures:

2. Added a new wing onto the office building.

5. Had an engine rebuilt in one of their fleet cars.

Explanation:

Capitalization is the process of delaying the full recognition of an expense for the acquisition of a new asset with long-term life so that the costs can be treated as an expense gradually over its useful life through an accounting method known as depreciation or amortization.

The criteria for capitalizing expenditure depend on whether the expenditure is necessary to bring the asset to the condition and location where it can be operated as desired by the management.  It must also meet the threshold amount set by management for capitalization.  This is because some assets can be used for more than one year and still they are not regarded as capital assets.  Example is a stapling machine that costs less than a dollar.

6 0
3 years ago
How much money should you get selling gold for cash?
Viefleur [7K]
Enough to buy a Mercedes Benz.
7 0
2 years ago
Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or b
loris [4]

Answer:

The correct answer is a) Payor Benefit

Explanation:

When the payor dies or becomes disabled, the insurer will suspend the premiums until the child reaches 19 years old, the child must be under age 18, or up to age 19 and still attending high school. Usually, the payor is a parent (father, mother, brothers).

4 0
2 years ago
Other questions:
  • 5. Which of the following examples of emotional behaviors are displayed by infants up to 8 months?
    15·2 answers
  • Which of the following would most likely constitute a negative externality affecting free resources?
    15·1 answer
  • Today, the loyalty of a knowledge worker to his or her employing firm has __________ compared to his or her loyalty to his or he
    7·1 answer
  • Patterson Lawn Co. wants to determine the cost of each lawn care maintenance job. The Company has two operating departments, one
    10·1 answer
  • The data preparation technique used in market segmentation to divide consumers into different homogeneous groups is
    13·1 answer
  • Zync Corporation offers a block of its securities for sale to the investment banker that submits the highest price of all intere
    5·1 answer
  • Assume that the United States has a comparative advantage in aircraft manufacture and India has a comparative advantage in produ
    11·1 answer
  • Read the scenario:You are writing a research report on financial derivatives.
    5·1 answer
  • What is defined as the perceptions a company's employees share about the firm's psychological environment
    7·1 answer
  • Suppose the exchange rate is 10 pesos per dollar and you use $1000 to purchase a one-year mexican bond that pays 10% interest. N
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!