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Question 4 2.5 pts During January 2018, Paragonah Corp. purchased equipment for $400,000. Paragonah recorded depreciation expense of $15,000 each year during 2018, 2019, and
Question 4 2.5 pts During January 2018, Paragonah Corp. purchased equipment for $400,000. Paragonah recorded depreciation expense of $15,000 each year during 2018, 2019, and 2020. What amount will Paragonah report on its 2020 balance sheet for the equipment? (just enter the number, without any commas or a dollar sign) Question 3 2.5 pts Orderville Corp. purchased equipment for $100,000. In connection with the purchase, Orderville paid an additional $8,000 in taxes, $1,000 to have the equipment delivered, and $5,000 for installation. What amount should Orderville record on its balance sheet for the equipment once it is installed (before considering depreciation)? (just enter the number, without any commas or a dollar sign) Question 2 2.5 pts At the end of 2020, Koosharem Corp. calculated and recorded $50,000 in depreciation on a building that it had purchased five years earlier. How will this depreciation affect Koosharem's 2020 financial statements? increase assets, increase net income increase assets, decrease net income decrease assets, increase net income decrease assets, decrease net income increase liabilities, increase net income decrease liabilities, increase net income
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