Equipment costing $60,000 with a residual value of $6,000 and an estimated life of eight years has been depreciated using the straight-line method for two years. Assuming a revised estimated total life of five years, the depreciation expense for year 3 would be
A) $6,750.
B) $9,000.
C) $13,500.
D) $10,800.
C
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In terms of advertising internationally, the levels of nudity, sexual references, and gender-specific issues that are permitted in a country are determined by all of the following, except:
A) religions B) culture C) value systems D) personal preferences
Drew is a partner at Peyton LLP. Peyton maintains a money purchase Keogh plan for its partners and employees. Drew owns a 30% partnership interest in Peyton. Determine the maximum deductible contribution Drew can make to the plan in each of the following situations: a.Drew 's net self-employment income is $85,000.b.Drew's net self-employment income is $290,000.
What will be an ideal response?
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $250,000. The company produced 25,000 units, and sold 20,000 units, leaving 5,000 units in inventory at year-end. Income calculated under variable costing is determined to be $315,000. How much income is reported under absorption costing?
A. $565,000 B. $365,000 C. $290,000 D. $315,000 E. $265,000
Surrender charges on annuities typically decline the longer you own the annuity
Indicate whether the statement is true or false.