Answer:
Amount of depreciation expense =$5,250
Explanation:
Under the straight line method the same amount is charged as depreciation expense over the estimated useful life of the asset
Initial depreciation = cost - salvage value /number of years
= (25,000 -5000)/5
= 4000 per year
Accumulated depreciation for 4 years= 4000× 3 = 12,000
Revised depreciation = (25,000 -12,000 - 2500)/2
=$5250 per year
Amount of depreciation expense for year 4 =$5250
Answer:
they keep trying hard
They maybe exercise or keep playing basketball
Answer:
Since cream is a key input in the production of ice cream, a shortage of it or a price increase will cause the supply curve to shift to the left. This means that the suppliers will supply less product and charge a higher price for ice cream.
Since the quantity supplied of ice cream will decrease at all price levels, this will result in shortage and:
- the equilibrium price will increase
- the equilibrium quantity will decrease
- the quantity demanded for ice cream in general (including chocolate ice cream) will decrease also.
Answer and Explanation:
If there is decrease in fair value of an asset as is seen in the example with Pitbull corporation, we decrease asset revaluation reserve in the balance sheet by the value reduced $50000 here to recognise new carrying value of the asset and then debit the expenses of revaluation to the income statement or profit and loss account. If there was an increase in fair value, revaluation would add to retained earnings in balance sheet and income in income statement
