Question
can somebody help me with my quis i only got 25 mnits. i only need the answer Kansas Enterprises purchased equipment for $74,000 on January
Kansas Enterprises purchased equipment for $74,000 on January 1, 2015. The equipment is expected to have a ten-year life, with a residual value of $6,900 at the end of ten years. |
Using the double-declining balance method, the book value at December 31, 2016 would be(Do not round your intermediate calculations): |
$43,440.$45,840.$7,400.$47,360.
Berry Co. purchases a patent on January 1, 2015, for $44,000 and the patent has an expected useful life of five years with no residual value. Assuming Berry Co. uses the straight-line method, what is the amortization expense for the year ended December 31, 2016?
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$0$8,800$17,600$44,000
Bricker Enterprises purchased a machine for $206,000 on October 1, 2015. The estimated service life is ten years with a $20,600 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2015, using straight-line depreciation, is(Do not round your intermediate calculations. Round your answer to the nearest dollar amount): |
The balance sheet of Cattleman's Steakhouse shows assets of $85,400 and liabilities of $15,200. The fair value of the assets is $89,900, and the fair value of its liabilities is $15,200. Longhorn paid Cattleman's $82,820 to acquire it. Longhorn should record goodwill on this purchase of:
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$12,200$12,620$8,120$2,580
Kansas Enterprises purchased equipment for $77,500 on January 1, 2015. The equipment is expected to have a ten-year life, with a residual value of $8,850 at the end of ten years. |
Using the double-declining balance method, depreciation expense for 2016 would be(Do not round your intermediate calculations): |
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