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Dahasolnce [82]
3 years ago
12

Cardco Inc. has an annual accounting period that ends on December 31. During the current year a depreciable asset that cost $46,

000 was purchased on September 2. The asset has a $4,800 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a four-year life. What is the total depreciation expense for the current year?
Business
1 answer:
nexus9112 [7]3 years ago
6 0

Answer:

$3,433.33

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

Annual depreciation

= ($46000 - $4800)/4

= $10,300

In the current year, the asset would only be depreciated for 4 months

= 4/12 * $10,300

= $3,433.33

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Answer:

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Explanation:

At the end of each accounting period, the corporation is expected to pay a tax known as income tax from the taxable income earned by the corporation. This tax is paid by the corporation before the amount to be paid to the shareholders of the company in form of dividends.

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Answer:

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Explanation:

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3 years ago
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A) deposition

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Answer:

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dlinn [17]

Answer:

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