FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pharoah Company bought equipment for $110000 on January 1, 2021. Pharoah estimated the useful life to be 10 years with no salvage value, and the

Pharoah Company bought equipment for $110000 on January 1, 2021. Pharoah estimated the useful life to be 10 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2022, Pharoah decides that the business will use the equipment for a total of 11 years. What is the revised depreciation expense for 2022?

$11000.

$9900.

$9000.

$4950.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Stability, Sovereign Debt And Derivatives

Bank Stability, Sovereign Debt And Derivatives

Authors: Author

1st Edition

113733214X, 9781137332141

More Books

Students also viewed these Accounting questions

Question

★★★★★
A study done by researchers at Alfred University concluded that 80% of all student athletes in this country have been subjected to some form of hazing. The study is based on responses from 1,400...

Answered: 1 week ago

Question

★★★★★
Find the first-order rate constant for the disappearance of A in the gas reaction 2A R if, on holding the pressure constant, the volume of them reaction mixture, starting with 80% A, decreases by...

Answered: 1 week ago

Question

★★★★★
How many degrees of freedom would the drop-in-deviance have in Exercise 10.46?

Answered: 1 week ago

Question

★★★★★
On January 1, 2011, you deposited $6,000 in a savings account. The account will earn 10 percent annual compound interest, which will be added to the fund balance at the end of each year. Required...

Answered: 1 week ago

Question

★★★★★
Mr. Robert Bedford, also owned Bedford College, a private not-for-profit college located in the downtown of Mansfield Town. As it has just started, the college only have four students Anna, Benedict,...

Answered: 1 week ago

Question

★★★★★
Which of the following approaches is commonly used in retail, accounting/banking, and healthcare sectors to indicate candidate's likelihood for theft, fraud, workplace hostility, and job performance?...

Answered: 1 week ago

Question

★★★★★
Suman Corporation In mid-April, Mike Bradie, vice president of supply chain management at Suman Corporation (Suman), had become increasingly concerned about the potential shortage of supply of barac,...

Answered: 1 week ago

Question

★★★★★
Briefly describe the main purpose of normalization in database design. (3 marks) (6 marks) (b) Describe the rules of one normal form (INF), 2 NF and 3 NF. (c) You work as an administrator in UCSI Pet...

Answered: 1 week ago

Question

★★★★★
Take a few moments to write down all the ways people could get hurt at work. Then categorize them into the following categories in table/chart: Chemical Biological Physical Ergonomics Psychosocial

Answered: 1 week ago

Question

★★★★★
An analysis of transactions for Blossom Company, a certified public accounting firm, for the month of August is as follows. Assume that August is the company's first month of business. Assets...

Answered: 1 week ago

Question

★★★★★
Your (all equity) firm sells 35,000,000 units at $2.30 per unit, the variable cost per unit is $1.84, and fixed costs are $6,500,000, giving your firm a DOL of 1.6771. The firm faces a tax rate of 40...

Answered: 1 week ago

Question

★★★★★
=+What's the purpose of the piece?

Answered: 1 week ago

Question

★★★★★
=+What benefits are there in direct mail?

Answered: 1 week ago

Question

★★★★★
=+How will this product help them?

Answered: 1 week ago

Previous Question Next Question