Bramble Company purchased equipment on January 1, 2019, for $79000 with an estimated salvage value of...

Bramble Company purchased equipment on January 1, 2019, for $79000 with an estimated salvage value of $19000 and estimated useful life of 8 years. On January 1, 2021, Bramble decided the equipment will last 12 years from the date of purchase. The salvage value is still estimated at $19000. Using the straight-line method the new annual depreciation will be:

$4500.

$5000.

$6583.

$16000.

Waterway Sox Company had checks outstanding totaling $12000 on its June bank reconciliation. In July, Waterway Sox Company issued checks totaling $79500. The July bank statement shows that $70500 in checks cleared the bank in July. A check from one of Waterway Sox Company's customers in the amount of $2070 was also returned marked "NSF." The amount of outstanding checks on Waterway Sox Company's July bank reconciliation should be

$23070.

$9000.

$21000.

$18930.

Expert Solution

ekkarill92 answered 2 years ago

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