Of course! Here are 10 more accounting questions with different values:

Question 6:

A company acquires equipment for $50,000 cash with an estimated salvage value of $5,000 and a useful life of 5 years.

Requirements:

1. Calculate the annual depreciation expense using the straight-line method.

2. Record the journal entry to recognize the purchase of equipment.

3. Post the journal entry to the Equipment account in the ledger.

4. Analyze how this transaction affects the company's balance sheet.

5. Discuss the impact of depreciation on the company's profitability over the asset's useful life.