Business, 28.08.2020 03:01 mallorywoods8

Peavey Enterprises purchased a depreciable asset for $24,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,500, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? a. $15,125.b. $4,583.c. $22,000.d. $18,333.e. $5,500.

Answers: 2

Show answers

Answers

Answer from: melikefood01

The amount of accumulated depreciation on this asset on December 31, Year 3 is a. $15,125.

Depreciable Value = $24,500-$2500

Depreciable Value = $22,000

Per Year depreciation = $22000/4

Per Year depreciation= $5500

Depreciation for year 1 = $5500 x 9/12

Depreciation for year 1 = $4125

Depreciation for year 2 = $5500

Depreciation for year 3 = $5500

Accumulated depreciation on 31st December year 3 = $4125+$5500+$5500

Accumulated depreciation on 31st December year 3= $15,125

Inconclusion the amount of accumulated depreciation on this asset on December 31, Year 3 is a. $15,125.

Learn more about accumulated depreciation here:link

Answer from: blewcblankz56

a. $15,125

Explanation:

The computation of the accumulated depreciation is shown below:

The formula i.e. be used for the yearly depreciation expense using the straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)

For the first year

= ($24,500 - $2,500) ÷ (4 years)

= ($22,000) ÷ (4 years)

= $5,500

The 9 months depreciation is $4,125

For the second year

= ($24,500 - $2,500) ÷ (4 years)

= ($22,000) ÷ (4 years)

= $5,500

For the third year

= ($24,500 - $2,500) ÷ (4 years)

= ($22,000) ÷ (4 years)

= $5,500

Now the accumulated depreciation is

= $4,125 + $5,500 + $5,500

= $15,125

Answer from: Quest

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

Answer from: Quest

d) social security number

let me know if i am correct or not, so i can edit the answer.

Another question on Business

Business, 21.06.2019 17:10

Which statement describes a monopoly? many firms produce identical products with no control over the market price. many firms produce differentiated products with control over market price. a single firm produces a product with no close substitutes and control over the market price. a single firm produces a product with many close substitutes and limited control over the market price.

Answers: 1

Answer

Business, 22.06.2019 09:40

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

Answers: 3

Answer

Business, 22.06.2019 14:20

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?

Answers: 1

Answer

Business, 22.06.2019 17:30

What is the sequence of events that could lead to trade surplus

Answers: 3

Answer

You know the right answer?

Peavey Enterprises purchased a depreciable asset for $24,500 on April 1, Year 1. The asset will be d...

Questions