Amachine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of four years. the company uses straight-line depreciation. calculate its book value at the end of year 3

Book value at the end of year 3 of the machine: $130,000

Explanation:

The company uses straight-line depreciation method, Depreciation Expense each year is calculated by following formula:

Depreciation Expense = (Cost of machine − Residual Value )/Useful Life = ($400,000-$40,000)/4 = $90,000

At the end of year 3, Accumulated depreciation = $90,000 x 3 = $270,000

Book value of the machine is: the machine's cost minus the machine's accumulated depreciation.

At the end of year 3, Book value of the machine = $400,000 - $270,000 = $130,000

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know