On January 1, Year 1, Anon Company paid $110,000 cash to purchase equipment. The equipment had an expected useful life of six years and an estimated salvage value of $8,000. Assuming that Anon depreciates its assets using the straight-line method of depreciation, the amount of depreciation expense appearing on the Year 4 income statement and the amount of accumulated depreciation appearing on the December 31, Year 4, balance sheet would be .

Part 1. The amount of depreciation expense appearing on the Year 4 income statement is $17,000

Part 2. The amount of accumulated depreciation appearing on the December 31, Year 4 is $ 68,000

Explanation:

Part 1. The amount of depreciation expense appearing on the Year 4 income statement

Anon depreciates its assets using the straight-line method of depreciation. This means that the depreciation expense will be the same for every year.

The Depreciation expense is calculated as:

=(Cost - Salvage Value)/ Number of Useful Life

=($110,000 - $8,000) / 6 years

= $17,000

Thus depreciation expense in year 4 is $17,000

Part 2. The amount of accumulated depreciation appearing on the December 31, Year 4

Accumulated Depreciation is the Total Depreciation Charge on the Asset to date.

Total Depreciation Charge (Accumulated Depreciation) in year 4 is thus:

$17,000 × 4 years

$ 68,000

Thus Accumulated Depreciation is $ 68,000

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

b.

c.

d.

g.

those r all of them i believe