Business, 21.02.2020 02:20 campbelldean
Highsmith Rental Company purchased an apartment building early in 2018. There are 20 apartments in the building and each is furnished with major kitchen appliances. The company has decided to use the group depreciation method for the appliances. The following data are available:
Appliance Cost Residual Value Service Life (in Years)
Stoves $39,000 $3,000 6
Refrigerators 34,000 4,000 5
Dishwashers 32,000 3,000 4
In 2021, two new refrigerators costing $3,900 were purchased for cash. The old refrigerators, which originally cost $3,900, were sold for $1,400.
(1) Calculate the group depreciation rate, group life, and depreciation for 2018.
(2) Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators.
Answers: 1
Business, 22.06.2019 16:50
The cost of labor is significantly lower in many countries than in the united states. if you move manufacturing to a facility to a country labeled as part of the axis of evil and a threat to world peace you will increase the net income of your client by $10 million per the facility is located in a country which limits personal freedom and engages in state sponsored terrorism. imagine you are a marketing consultant. (a) what would you tell the executives to do? (b) what are the alternatives? what are your recommendations? why do you recommend this course of action?
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Business, 22.06.2019 20:20
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Business, 23.06.2019 09:40
When providing the square footage of a property for sale, the salesperson should disclose what?
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Highsmith Rental Company purchased an apartment building early in 2018. There are 20 apartments in t...
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