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please help with accounting 1 question, 4 parts On January 1, Year 1, Cakes ' N ' Bakes Co. purchased $30,000 of equipment. The equipment
please help with accounting
On January 1, Year 1, Cakes ' N ' Bakes Co. purchased $30,000 of equipment. The equipment has a salvage value of $6,000 and an estimated useful nife of 5 years. The company uses the double-declining balance method to calculate depreciation. What is depreciation expense for Year 1? $3,000 $9,600 $6,000 512,000 What is the journal entry to record depreciation expense? Debit Accumulated Depreciation; Credit Cash Debit Accumulated Depreciation; Credit Depreciation Expense Debit Depreciation Expense; Credit Cash Debit Depreciation Expense; Credit Accumulated Depreciation Raja inc sold a vehicle for $4,000. The original purchase price of the vehicle was $12,000 and its accumulated depreciation was $6,000 on the date of sal0. What will the journal entry to record this sale transaction include? Credit to gain of $4,000 Debit to loss of $2,000 Credit to gain of 52,000 Debit to gain of $2,000 What does the final calculated value for Return on Assets (ROA) help tell a user? The ability to convert inventory into cash The profitability of total assets The profitability of sales dollars The efficiency of total assets 1 question, 4 parts
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