Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. an asset is purchased on january 1 for $45,000. it

An asset is purchased on January 1 for $45,000. It is expected to have a...

70.2K

Verified Solution

Question

Accounting

An asset is purchased on January 1 for $45,000. It is expected to have a useful life of six years after which it will have an expected salvage value of $2,700. The company uses the straight-line method. If it is sold for $23,000 exactly three years after its purchased, the company will record a

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. For each, circle either True or False. please add an explanation to each one so...

Basic Math
Q

Determine the sample size n needed to construct a 99​% confidence interval to estimate the population...

Basic Math
Q

Write an article that describes all the analytical methods used for calculating the roundness error.

Mechanical Engineering
Q

What variables do we need to consider when selecting a forecasting technique? For example if we...

General Management
Q

Market research tools can be used to collect risk related information and data ready for analysis....

General Management
Q

For all questions in this homework assignment and in the future numbers larger than 1000...

Basic Math
Q

Simplify the following expression using rational exponents Assume all variables are positive 2 4a

Algebra
Q

Find the average rate of change of f x x 9x 3 over the following...

Algebra
Q

Which of the following is not considered as a complicating factor in capital investment decisions?...

Accounting
Q

Problem 14-5A Installment notes [C1 On January 1, 2021, Norwood borrows $200,000 cash from a...

Accounting
Q

Question Company Z factors $200,000 of accounts receivable with Company A. The finance charge is...

Accounting
Q

What is the primary role of a job cost sheet? It lists the materials on...

Accounting