Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please hep me with this question, i will give up v

please hep me with this question, i will give up vote. thanks. On January...

80.2K

Verified Solution

Question

Accounting

please hep me with this question, i will give up vote. thanks.image

On January 1, Year 1 , Phillips Company made a basket purchase including land, a building and equipment for $380,000. The appraised values of the assets are $20,000 for the land, $340,000 for the building and $40,000 for equipment. Phillips uses the double-declining-balance method of depreciation for the equipment which is estimated to have a useful life of four years and a salvage value of $5,000. The depreciation expense for Year 1 for the equipment is: Multiple Choice $9,500. $19,000. $17,000. $20,000

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

Accounting
1.2K views

There are two components of accounting, comparability andconsistency.Comparability is when different companies report the...There...

Psychology
1.2K views

Do all example of racism stem from ethnocentrism? Give one example of racism that does not come...

Physics
1.2K views

A pendulum 2.10 m long is released (from rest) at an angle θ0=30.0∘. B. Determine the speed...

Advance Math
1.2K views

Write a Fourier series equations solved example. add bibliography reference.

Geometry
1.2K views

7 Find the exact lengths of the radius and the diameter of a cir cle...

Basic Math
1.2K views

Rewrite logx, 2y = 3 in exponential form.(2y) = x3 = 2y3x = 2yy =...

Calculus
1.2K views

Let f x 6x x 1 1 6 A Sketch the graph of f and...

Algebra
1.2K views

Use the circle to find the length of the indicated arc Round your answer to...

Accounting
1.2K views

(6 1) SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries...

Accounting
1.2K views

Below is the information relative to an exchange of assets by Stanton Company. The exchange...

Accounting
1.2K views

JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017 ...

Accounting
1.2K views

Year 1 Year 2 -111.00 19254.00 2219.00 4351.00 12684.00 Assume that there is no interest...