Revision of depreciation on january 2, 2012, mosler, inc., purchased equipment for $126,000. the equipment was expected to have a $12,000 salvage value at the end of its estimated six-year useful life. straight-line depreciation has been recorded. before adjusting the accounts for 2016, mosler decided that the useful life of the equipment should be extended by two years and the salvage value decreased to $10,000. a. prepare a journal entry to record depreciation expense on the equipment for 2016. round your answer to the nearest dollar. general journal debit credit dec. 31 answer answer answer answer answer answer to record depreciation expense. b. what is the book value of the equipment at the end of 2016 (after recording the depreciation expense for 2016)? book value at year ended december 31, 2016: $answer

•broussard skateboard’s sales are expected to increase by 15% from $8 million in 2016 to $9.2 million in 2017. its assets totaled $5 million at the end of 2016. broussard is already at full capacity, so its assets must grow at the same rate as projected sales. at the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. the after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 40%. use the afn equation to forecast broussard’s additional funds needed for the coming year

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)