Question
I need help with Accountant exam I answered almost all the questions except 2 of them, would appreciate an help. 1.A machine has a cost
I need help with Accountant exam I answered almost all the questions except 2 of them, would appreciate an help.
1.A machine has a cost of $18,000, an estimated salvage value of $3,000, and an estimated useful life of five years.The machine is being depreciated on a straight-line basis.At the beginning of the fourth year, after depreciation had been recorded for three years, it is estimated the machine will last four years from that point and is still expected to have $3,000 of salvage value.What is the revised annual depreciation?
A)$750B)$1,500C)$1,800D)$2,143
2. A franchise was purchased for $100,000 and had a finite useful life of 10 years.Annual franchise payments of $12,500 are also required.The total annual expense associated with this franchise is:
A)$10,000B)$11,250C)$12,500D)$22,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started