A company purchased factory equipment on April 1, 2013 for $80,000. It is estimated that the equipment will have an $10,000 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, 2013 is A. $5,250. B. $8,000. C. $7,000. D. $6,000.
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A company purchased factory equipment on April 1, 2013 for $80,000. It is estimated that the equipment will have an $10,000 salvage value ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which one of the following is a tool of monetary policy often used by the Fed for altering the reserves of commercial banks? A. Issuing currency B. Check collection C. Required reserve ratio D. Open-market operations
Answers (1)
If households and firms increase the level of private savings because they become pessimistic about the future, then:
Answers (1)
Explain how workplace safety is guaranteed by the roles of the government, the employer, and the employee
Answers (1)
Which best describes a reason that consumer demand can change? a. loss of income b. loss of supply c. distribution problems d. market problems
Answers (1)
Is quadrilateral JKLM the result of a dilation of quadrilateral ABCD by a scale factor of 2? Why or why not? O Yes, because sides JK and ML are twice as long as sides AB and DC.
Answers (1)
New Questions in Business
Free market economy how are prices set?
Answers (1)
Patel Service Co. does make a few sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During Year 1, Patel Service Co.
Answers (1)
Accepting a special order will improve overall net operating income if the revenue from the special order exceeds: a. the contribution margin on the order. b. the incremental costs associated with the order. c.
Answers (1)
The debit side of an account a. depends on whether the account is an asset, liability, or owner's equity b. is the left side of the account c. can be either side of the account depending on how the accountant set up the system d.
Answers (1)
Universal Containers (UC) has a desktop application to collect leads for marketing campaigns. UC wants to extend this application to integrate with Salesforce to create leads.
Answers (1)