The cost of an asset is $ 1,020,000 , and its residual value is $ 100,000. The estimated useful life of the asset is ten years. Calculate depreciation for the first year using the two minus declining minus balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
a. $ 204.000
b. $ 92.000
c. $ 102. 000
d. $ 184.000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The cost of an asset is $ 1,020,000 , and its residual value is $ 100,000. The estimated useful life of the asset is ten years. Calculate ...” 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
From her annual salary of $72,000, Kierstan has $5,700 automatically deducted for insurance on an annual basis. Additionally, $9,000 is deducted each year in taxes.
Answers (1)
Using the LIFO method of inventory valuation will always produce the same results for cost of goods sold and ending inventory whether a company uses perpetual or periodic inventory costing methods.
Answers (1)
Patrick Henry's famous speech expresses the main theme: "Give me liberty or give me death." This is a speech аbout: A. processes. B. concepts. C. objects. D. events.
Answers (2)
Which type of account is typically most liquid
Answers (1)
On march 12, masterson company, inc. sold merchandise in the amount of $7,800 to forsythe company, with credit terms of 2/10, n/30. the cost of the items sold is $4,500.
Answers (1)
New Questions in Business
George and Weezy received $30,200 of Social Security benefits this year ($12,000 for George; $18,200 for Weezy). They also received $5,000 of interest from jointly owned City of Ranburne Bonds and dividend income.
Answers (1)
Which of the following is true regarding the high-tech industry today? a. It generally depends on a pool of low-skilled labor. b. It has led to the increased economic development of previously rural areas. c.
Answers (1)
Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. -Sold merchandise on account for $64,000 to a customer.
Answers (1)
Barans Realty Co. pays weekly salaries of $18,000 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday.
Answers (1)
Montana Company was authorized to issue 200,000 shares of common stock. The company had issued 50,000 shares of stock when it purchased 10,000 shares of treasury stock.
Answers (1)