Dexter industries purchased packaging equipment on january 8 for $98,000. the equipment was expected to have a useful life of three years, or 20,000 operating hours, and a residual value of $6,000. the equipment was used for 8,980 hours during year 1, 6,930 hours in year 2, and 4,090 hours in year 3.
required: 1. determine the amount of depreciation expense for the three years ended december 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. also determine the total depreciation expense for the three years by each method. (note: for straight-line only, round the first two years to the nearest whole dollar, then round the third year as necessary. for declining balance only, round the multiplier to five decimal places. then round the answer for each year to the nearest whole dollar.)

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations. issued 2,900 shares of $0.01 par value common stock to investors for cash at $29 per share. borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years. paid $1,000 for the current month's rent of a warehouse and another $1,000 for next month's rent. paid $1,440 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). purchased furniture and fixtures for the warehouse for $16,000, paying $3,200 cash and the rest on account. the amount is due within 30 days. purchased for $2,800 cash the university of pennsylvania, notre dame, the university of texas at austin, and michigan state university baseball caps as inventory to sell online. placed advertisements on google for a total of $340 cash. sold caps totaling $1,900, half of which was charged on account. the cost of the caps sold was $1,100. (hint: make two entries.) made full payment for the furniture and fixtures purchased on account in (e). received $280 from a customer on account.

The dollar value generated over decades of customer loyalty to your company is known as brand equity. viability. sustainability. luck.

Compare the sources of consumer credit 1. consumers use a prearranged loan using special checks 2. consumers use cards with no interest and non -revolving balances 3. consumers pay off debt and credit is automatically renewed 4. consumers take out a loan with a repayment date and have a specific purpose a. travel and entertainment credit b. revolving check credit c. closed-end credit d. revolving credit