Spencer Company purchased a tractor at a cost of $360,000 on January 1, 2019. The tractor has an estimated salvage value of $60,000 and an estimated life of 8 years. If Spencer uses the straight-line method, what is the book value at January 1, 2023

$210,000

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

( $360,000 - $60,000) / 8 = $37,500

Depreciation expense each year of the useful life would be $37,500.

Book value in 2023 = Cost of asset - accumulated deprecation

There are 4 years between January 1, 2019 and January 1, 2023.

Accumulated depreciation = $37,500 x 4 = $150,000

Book value = $360,000 - $150,000 = $210,000

I hope my answer helps you

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

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