sihamabdalla591
25.12.2019 •
Business
Kansas enterprises purchased equipment for $80,000 on january 1, 2018. the equipment is expected to have a ten-year life, with a residual value of $6,000 at the end of ten years. using the straight-line method, the book value at december 31, 2018 would be:
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Ответ:
The book value at December 31, 2018 would be $72,600
Explanation:
Kansas Enterprises uses straight-line depreciation method, Depreciation Expense per year is calculated by following formula:
Annual Depreciation Expense = (Cost of equipment − Residual Value )/Useful Life = ($80,000 - $6,000)/10 = $7,400
Depreciation Expense for 2018 was $7,400
At December 31, 2018,
Accumulated depreciation = $7,400
Book vale of the equipment = Cost of equipment - Accumulated depreciation = $80,000 - $7,400 = $72,600
Ответ:
statement of retained earnings
Explanation:
Retained earnings are the profits that a business opts not to distribute to shareholders. They are part of the shareholder's equity.
The statement of retained earnings shows the balance of retained earnings at the end of a period. Retained earnings are increased by profits and decreased by dividends paid. Preparing the statement of retained earnings involves adding net income to beginning retained earnings.
Dividends paid are subtracted from that total.
Therefore, the dividend paid out will feature in the statement of retained earnings.