Lido Pizza purchased a new oven that cost $15,000 cash on January 2, 2016. The oven has an expected useful life of five years and an estimated salvage value of $3,000. Tony's uses straight-line depreciation to make adjusting entries each December 31. What amount of accumulated depreciation would Lidos report on the 2017 balance sheet?
Answers
Answer:
$4,800
Explanation:
The computation of the accumulated depreciation would Lidos report on the 2017 balance sheet is shown below:
= (Purchase value of new oven- estimated salvage value ) ÷ (expected useful life)
= ($15,000 - $3,000) ÷ (5 years)
= ($12,000) ÷ (5 years)
= $2,400
Now for 2017, the accumulated depreciation is
= Depreciation expense × number of years
= $2,400 × 2 years
= $4,800
Related Questions
What is take-home pay?
If a country is having more exports than imports in value terms, it can be said that the country is having:-a. Deficit under BOP b. Deficit under BOT c. Surplus under BOP d. BOP crisis
New correctional treatment specialists might be required to work under a trial period, called a(n)
Ashley, a manager at a toy manufacturing company, needs to create a financial document for the company that would show how the company's operating, investing, and financing activities are expected to affect the asset, liability, and owners' equity accounts. To prepare this document, Ashley needs to collect data from:
Answers
The people are likely to run into problems when using a credit card is Sheila, who often indulges in impulse buying. Thus the correct option is A.
What is a credit card?
A credit card is a thin plastic card that can be used to make credit-based purchases from financial institutions, businesses, and other institutions. You can buy stuff, bill adjustments, and/or cash withdrawals using the credit lines provided by credit cards.
By causing users to believe or exaggerate their ability to pay off card balances, credit card possession encourages impulsive buying behavior. It develops into impulsive shopping if you're accumulating up credit card debt or going over the limit on your debit card.
Your financial objectives won't be enhanced by buying into an impulse purchase. Any additional money you were collecting to put towards certain amazing goals will be absorbed by impulsive purchases and expenditures.
Therefore, option A is appropriate.
Learn more about credit cards, here:
#SPJ5
Answer: A sheila
Explanation: kaitlin can still get a credit card, even though she may gave a little difficulty, however the hypothetical is set for specifically using a credit card. You don’t want to use more than 30% of avaliable credit, however an impulse spender will have issues with that
b. orderly marketing.
c. dumping.
d. domestic content pricing.
Answers
Answer: Option (C)
Explanation:
In discipline such as economics, Dumping is referred to as or known as type of an injuring pricing, which is especially in context to the international trade. It tends to occur when the manufacturers export a commodity or product to another nation at price which is below normal price in order to have an injuring effect. The main objective of the dumping is to help increase the market share of an organization in the foreign market, therefore done by driving out the competition and thus creating a monopoly where exporter are able to dictate quality and price of the commodity.
B. annoyance
C. traditional
D. social media
E. mobile
Answers
Answer: Mobile Marketing.
Explanation:
The company that sent the text message is making use of mobile marketing to promote their products to consumers. Mobile Marketing involves marketers promoting their products to it's consumers, by targeting to reach the consumers through the various means of communication on their phones.
Answers
The compound interest is the financial phenomenon in the investment purpose where the interest charged over the principal amount becomes the part of principle after its receipt to the recepient.
The interest earned becomes the part of investment amount and over the interest amount also the interest is charged in a further period. This increases the value of investment rapidly.
The amount of withdrawal is $4,419.76
Given,
Principle amount (P)=$4,000
rate of interest (r)= 5% or 0.05
Number of months (n)= 24
Number of years (t) =2 years
The amount of withdrawal is $4,420 or as per the options, it is $4,419.76.
To know more about the power of compounding, refer to the link:
$4419.76 on apex and I don’t know how to explain it but it won’t let me post otherwise, so.... good luck this year.
B. Flexible
C. Management
D. Vertical
Answers
capitalization.
b.
loanable funds.
c.
investment.
d.
debt management.