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krek1111 [17]
1 year ago
5

On January 1, 2022, the Ivanhoe Company ledger shows Equipment $48,300 and Accumulated Depreciation $17,720. The depreciation re

sulted from using the straight-line method with a useful life of 10 years and a salvage value of $4,000. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value. Compute the revised annual depreciation.
Business
1 answer:
Cerrena [4.2K]1 year ago
8 0

Answer:

$13,290

Explanation:

Straight line depreciation expense = (book value of asset - salvage value ) / useful  life

Book value of the asset = $48,300 - $17,720 = $30,580

($30,580  - $4,000) / 2 = $13,290

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2 years ago
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pishuonlain [190]
The correct entry to record the cash sales is 

<span>Debit Cash $2058
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2 years ago
Gregory Trout has just received a memo explaining that because of his department's success with the newly developed Trout, Inc.,
disa [49]

Answer:

d. finding the right people

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3 0
2 years ago
Holman company owns equipment with an original cost of $95,000 and an estimated salvage value of $5,000 that is being depreciate
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7 0
2 years ago
Cherries on Top, a national ice cream shop, is struggling financially to keep up with the bigger chains. The top executives have
Serggg [28]

Answer:

The correct answer is B

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So, the shop uses or practice the approach of utilitarian as it will provide them the extra one million dollar to put it in the marketing.

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