Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cutter enterprises purchased equipment for $81,000

Cutter Enterprises purchased equipment for $81,000 on January 1, 2021. The equipment is expected to...

60.1K

Verified Solution

Question

Accounting

image

image

Cutter Enterprises purchased equipment for $81,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $7,800 Using the straight line method, the book value at December 31, 2021, would be Multiple Choice $57.000 $64.800 O $66,360. $58.560 Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at a cost of $24,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costing $5,400 was sold for $450 and replaced with new equipment costing $7,500. Canliss would record 2021 depreciation of Multiple Choice $4,800 0 $4,950. $7.050 O None of these answer choices are correct

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

How does the structure of a nephron encourage concentration of urine? What is the name of...

Biology
1.2K views

For eạch of the following, indicạte whạt the effect would be on the EFG/Rạs signạling pạthwạy...

Psychology
1.2K views

1. Mrs. Kaufman spends a lot of time stroking, cuddling, and rocking her infant son and...

Electrical Engineering
1.2K views

Derive wave equation for H (eq. 9.7 in the textbook) from Maxwell’s equations for source-free region filled...

Psychology
1.2K views

Give an example of how culture affects learning, examples of sociocultural influences on ELLs. A discussion...

Advance Math
1.2K views

Give examples–a formula and an illustration–of two-dimensional vector fields F?(x,y) with each of the following properties....

Biology
1.2K views

A researcher investigates a recently discovered species of plant. The plant has vascular tissues and...

Basic Math
1.2K views

You would use the short acting insulin and 56 units of Intermediate acting Insulin capacity...

Basic Math
1.2K views

Let F be a finite field. Prove that any element of F can be expressed...

Calculus
1.2K views

How would you remove the discontinuity of f at 3 f x x 2x 3...

Accounting
1.2K views

Depreciation expense and Captial Cost Allowance create temporary differences for the purpose of calculating future...

Accounting
1.2K views

a) . Declaration of cash dividends increases liabilities and decreases shareholders equity. b) A correction...