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Elena L [17]
3 years ago
6

Marlow Company purchased a point of sale system on January 1 for $5,800. This system has a useful life of 5 years and a salvage

value of $600. What would be the depreciation expense for the second year of its useful life using the double-declining-balance method?
Business
1 answer:
xz_007 [3.2K]3 years ago
7 0

Answer: $1392

Explanation:

The depreciation rate under straight line is =1/5=0.2

The depreciation rate under double declining is = 0.2 × 2 = 0.4

Depreciation expense for the first year = 0.4 × $5800 = $2320.

At the beginning of year two, net book value = $5800 - $2320 = $3480

Depreciation expense for year two = 0.4 × $3480 = $1392

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Paula inherits a home on July 1, 2019 that had a basis in the hands of the decedent at death of $290,000 and a fair market value
Airida [17]

Answer:

her recognized gain on the sale of her old principal residence is $193,000 and her basis in the inherited home is $600,000.

Explanation:

Recognized gain on sale of old house

= ($600,000 - $125000) - $30,000 - $2000

= $443,000

Paula's recognized gain = $443,000 - $250,000

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Her basis in the inherited home = $500,000 + $100,000

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Therefore, her recognized gain on the sale of her old principal residence is $193,000 and her basis in the inherited home is $600,000.

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3 years ago
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Answer:

$5,000

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3 years ago
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the main reason the industrial revolution first occurred in Britain was that in Britain the price of coal was low relative to labor. Thus, making everyone want to own and make products using the steam engine which ultimately created the first industrial revolution.

The Industrial Revolution, which took place between roughly 1760 and between 1820 and 1840, was the adoption of new manufacturing techniques in Great Britain, continental Europe, and the United States. This transition encompassed the switch from manual to mechanical production methods, the invention of new ways of producing chemicals and the iron, the expansion of steam and water power, the creation of machine tools, and the growth of the mechanized factory system.

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