A company used straight-line depreciation for an item of equipment that cost $15,350, had a salvage value of $3,200 and a six-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,535 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life: Multiple Choice $2,880. $5,672. $1,215. $2,580. $3,200.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company used straight-line depreciation for an item of equipment that cost $15,350, had a salvage value of $3,200 and a six-year useful ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
If an organization's competitive strategy relies on long-term relationships with the clients who purchase the organization's goods and services, the organization should reward its employees from its executives to its sales staff with incentives
Answers (1)
Which of the following situations is an example of country risk? Group of answer choices Alpha Corp., a rice manufacturer based in Pakistan, suffered losses when the U. S.
Answers (1)
Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports.
Answers (1)
Old South Company purchased investments for $55,000 and plant assets for $147,000 during the current year, during which it also sold plant assets for $66,000, at a gain of $6,000.
Answers (1)
The present value of a lump sum future amount: decreases as the time period decreases. is inversely related to the future value. is directly related to the interest rate. increases as the interest rate decreases.
Answers (1)
New Questions in Business
Wages of $8,000 are earned by workers but not paid as of december 31, 2017. depreciation on the company's equipment for 2017 is $18,000. the office supplies account had a $240 debit balance on december 31, 2016.
Answers (1)
You have placed an antique sofa up for auction and the auctioneer has not made any special announcements about the sale. You can withdraw the sofa at any time before the auctioneer closes the sale by announcement or by the fall of the hammer.
Answers (1)
2. Provide a definition for the following terms: • Accounts receivable: Enter definition here. • Supplies: Enter definition here. • Prepaid rent: Enter definition here. • Furniture: Enter definition here.
Answers (1)
What is the term applied to the amount that net sales exceeds cost of goods sold on an income statement?
Answers (1)
Whenever marginal cost is greater than average total cost, A. average total cost is rising. B. marginal cost is falling. C. average total cost is falling. D. Both b and c are correct.
Answers (1)