Equipment 300,000notes payable 270,000cash 30,000note that both the liability and asset will decline over time. as in yesterday’s assignment, assume straight line depreciation, with an estimated salvage value of $50,000. at the end of eight years, the equipment is sold for $40,000.on the date of purchase, 1/1/year1, the company hadassets (possibly among other assets): equipment $300,000liabilities (possibly among other liabilities): note payable $270,000prepare a spreadsheet showing what these asset and liability balances will be for years 1 through 8, end of year. you will need to add a line to show accumulated depreciation, as well as "equipment, net accumulated depreciation". for year 8, show all accounts and balances, even if they are zero.

Equipment: 300,000 for all years

Accumulated depreciation

Year   Value at year-end

131250

262500

393750

4125000

5156250

6187500

7218750

8250000

Equipment (net)

Year   Value at year-end

1268750

2237500

3206250

4175000

5143750

6112500

781250

850000

Explanation:

Equipment: 300,000

depreciation per year under straight-line method:

(cost-salvage value)/useful life

300,000 - 50,000 = 250,000 amount subject to depreciation

250,000 / 8 = 31,250 depreciation per year

Equipment will remain constant at 300,000 but accumualted depreciation will increase by this amount each. This makes the net value decrease each year.

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.

answer///ability to capture the attention of users;