La quête de soi: l'aliénation et l'assimilation

l'abondance

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Verified questions

accounting

Polk Corp. purchased new store fixtures for $55,000 on January 31, 2015. Polk depreciates assets using the straight-line method and estimated a salvage value for the machine of$5,000. On its December 31, 2017, balance sheet, Polk reported the following:

Property, plant, and equipment:
Store fixtures	$55,000
Accumulated depreciation	15,000	$40,000

Required

What is the yearly amount of depreciation expense for the store fixtures?
What is the estimated useful life in years for the store fixtures? Explain your answer.

Verified answer

business math

Solve the equation for the unknown.

4x - 6 = 15

Verified answer

economics

Either find the given limit or show it does not exist. If the limit is infinite, indicate whether it is $+\infty$ or $-\infty$ .

\lim _{x \rightarrow 1} \frac{x^2+x-2}{x^2-1}

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accounting

Cornuto Equipment Manufacturers, Inc. (CEM) reported the net book value of a plant asset at $2,600,000 as of the beginning of the current year. There is a$500,000 expected residual value and the estimated useful life is 25 years. At the beginning of the current year, following 10 full years of depreciation, the company determined that the asset will only be useful for another 10 years and reduced the expected residual value to $100,000. The change in estimate is needed to reflect extended usage and running the factory above normal capacity to meet increased demand. CEM uses the straight-line method of depreciation. The company is subject to a 40% tax rate.

c. Prepare the journal entry to record the change in estimate.

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