Five O'Clock, Inc. purchased a van on January 1, 2017, for $800,000. Estimated life of the van was five years, and its estimated residual value was $90,000. Five O'Clock uses the straight-line method of depreciation. Prepare the depreciation schedule
What will be an ideal response
Depreciation for the year
Depre- Accumu-
Useful ciation lated Book
Date Asset cost Depreciable cost life expense depreciation value
1-1-2017 $800,000 $800,000
12-31-2017 ($800,000 - $90,000 ) 5 $142,000 $142,000 658,000
12-31-2018 ($800,000 - $90,000 ) 5 142,000 284,000 516,000
12-31-2019 ($800,000 - $90,000 ) 5 142,000 426,000 374,000
12-31-2020 ($800,000 - $90,000 ) 5 142,000 568,000 232,000
12-31-2021 ($800,000 - $90,000 ) 5 142,000 710,000 90,000
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Research indicates that within the category of a salesperson's present marital, family and financial status, salespeople __________________ tend to have better sales performance.
A. With a diverse lifestyle B. Who are conservative C. With larger mortgages D. Who are in the process of a divorce E. None of the above
Fees authorized under the Georgia real estate license law are established and collected by the:
A. Real Estate Commission. B. Real Estate Commissioner. C. Active real estate brokers. D. Office of the Secretary of State.