Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 2,2023, kellogg corporation acquired eq

On January 2,2023, Kellogg Corporation acquired equipment for $800,000. The estimated life of the equipment...

90.2K

Verified Solution

Question

Accounting

On January 2,2023, Kellogg Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 90,000 hours. The estimated residual value is $10,000. What is the book value of the asset on December 31,2024, if Kellogg Corporation uses the straight - line method of depreciation? (Round any intermediary calculations to two decimal places and your final answer to the neacest dollar.)
A. $800,000
B. $642,000
C. $790,000
D. $484,000
image

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

What is successive Approximation, discuss them in detail.

Electrical Engineering
Q

This section contains 35 SINGLE questions Each question has 4 choices 1 Read More he...

Physics
Q

A particle at rest suddenly disintergrates into two particles of equal masses which start moving...

Physics
Q

Let h(z) = (z + 4) (z ? 5)Determine the most general antiderivative of h.?(z...

Calculus
Q

What type of function is graphed?What do you notice about the graphs?Can you write the...

Algebra
Q

Complete the table for the equation x y 5 and graph the equation X 0...

Algebra
Q

Question 19 Not yet answered Marked out of 1.00 Flag question Question text Selected...

Accounting
Q

Which of the following functions is not linear? ...

Accounting
Q

All of the following are characteristics of partnerships except: O a. Limited liability b. Limited...

Accounting
Q

1 Therewere borkservicectarses for June of $33 oo 3. Depositsin transivuanu 30 were $2895.00 4....

Accounting
Q

Exercise 5-6 (Algo) Break-Even Analysis (LO5-5] Mauro Products distributes a single product, a woven basket...

Accounting
Q

???????????ratiosareameasureofthespeedwithwhichvariousaccountsareconvertedintosalesorcash. Question 5 options: Liquidity Profitability Activity...

Finance