Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 2,2023, kellogg corporation acquired eq

On January 2,2023, Kellogg Corporation acquired equipment for $800,000. The estimated life of the equipment...

90.2K

Verified Solution

Question

Accounting

On January 2,2023, Kellogg Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 90,000 hours. The estimated residual value is $10,000. What is the book value of the asset on December 31,2024, if Kellogg Corporation uses the straight - line method of depreciation? (Round any intermediary calculations to two decimal places and your final answer to the neacest dollar.)
A. $800,000
B. $642,000
C. $790,000
D. $484,000
image

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

General Management
1.2K views

Describe the process of job analysis, components of a job description, and those of a job...

Biology
1.2K views

Match each of the following functions with the the graph that best describes the situat...

Physics
1.2K views

In a single slit diffraction of light of wavelength A by a slit of width...

Geometry
1.2K views

Select the correct answer.What is the general form of the equation of a circle with...

Basic Math
1.2K views

Person A deposits $2700 in an account that pays 5% interest compounded once a year....

Accounting
1.2K views

Correct answer. Your answer is correct. The hiring of a new company president is an...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] During the current year,...

Accounting
1.2K views

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question....

Accounting
1.2K views

Knowledge Check 01 Which of the following statements about donated assets are true? ...

Accounting
1.2K views

The only additional information available for this month includes payroll records and a few other...

Accounting
1.2K views

****** If Benjamin's wages increase to $80,000 and Emily's wages decrease to...

Accounting
1.2K views

Tapatio S.A. de C.V. acquired a new piece of manufacturing equipment on January 1, 2016,...