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# Tutor profile: Nicholas C.

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Nicholas C.
Financial Analyst
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## Questions

### Subject:HTML Programming

TutorMe
Question:

What is the HTML tag used to display an image on a webpage?

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Nicholas C.

<img>

### Subject:Algebra

TutorMe
Question:

Solve "x" in the following equation: 3x = x + 64

Inactive
Nicholas C.

Subtract x on both sides. 2x = 64 Now divide by 2 to get answer. x = 32

### Subject:Accounting

TutorMe
Question:

A business has purchased equipment on account for \$5,000. The business estimates the useful life of equipment for 10 years, a salvage value of \$1,000, and uses straight-line. What is the adjusting entry for depreciation for the first month?

Inactive
Nicholas C.

First, calculate depreciation using straight-line. The formula is (Cost - Salvage Value)/Useful life. Depreciation would be: \$400/yr or \$33.33/month For the adjusting entry, you will debit Depreciation Expense and credit Accumulated Depreciation - Equipment for \$33.33. Remember accumulated depreciation is a contra-account which will reduce Equipment. The book value of any fixed asset is the asset minus its accumulated depreciation.

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