You are watching: Depreciation measures the decline in market value of an asset.
Salvage worth is:A. Additionally called residual value.B. Likewise called scrap value.C. An estimate of the asset"s value at the finish of its benefit period.D. A element relevant to determining depreciation.E. Every one of the above.
Depreciation:A. Procedures the decline in sector value of one assetB. Steps physical deterioration of an assetC. Is the procedure of allocating to expense the price of a plant assetD. Is one outflow of cash indigenous the usage of a tree assetE. Is used to land
The useful life that a tree asset is:A. The size of time that is productively provided in a company"s operations.B. Never ever related to its physics life.C. It productive life, but not to exceed one year.D. Established by the FASB.E. Determined by the law.
Nelson firm purchase devices on July 1 for $27,500 and also decided to depreciate the equipment on the straight-line method over its helpful life of five years. Suspect the equipment"s residual worth is $3,500, the amount of monthly depreciation price Nelson must recognize is:A. $2,400B. $200C. $4,800D. $400E. $450
Lomax Enterprises to buy a depreciable asset because that $22,000 on march 1, 2007. The asset will certainly be depreciated on the straight-line method over the four-year helpful life. Suspect the asset"s residual worth is $2,000, what will certainly be the lot of built up depreciation top top this asset on December 31, 2010?A. $5,000.00B. $4,166.67C. $16,666.67D. $20,000.00E. $19,166.67
The straight-line depreciation method and double-declining-balance depreciation method:A. Produce the same full depreciation end an asset"s advantageous lifeB. Create the same depreciation expense each yearC. Produce the same publication value every yearD. Space acceptable because that tax objectives onlyE. Space the only acceptable methods of depreciation for financial reporting
Plant legacy include:A. LandB. Land improvementsC. BuildingsD. Machinery and equipmentE. Every one of the above
1. The expense of land can include:A. Acquisition priceB. Assessments by neighborhood governmentC. Prices of remove existing buildingsD. Fees because that insuring the titleE. Every one of the above
The formula because that computing yearly straight-line depreciation is:A. Depreciation expense divided by helpful life in units.B. Cost plus residual value separated by the helpful life in years.C. Expense less residual value divided by the valuable life in years.D. Price divided by the useful life in years.E. Expense divided by the helpful life in units.
The full cost of one asset much less its gathered depreciation is called:A. Historical costB. Publication valueC. Existing valueD. Present (market) valueE. Replacement cost
Assume that tide rider paid prices totaling $32,000. How does this transaction influence Wave Rider"s accounting equation?
RV all inc. Payment $1200 because that supplies and purchases additional supplies on account for $1000. RV Wholesale additionally paid $200 that the account payable. What is the balance in the gives account?
Acme wash 130 cars critical month. They fee $10 per car. The company"s only expenses during this month were $93 for utilities, $300 wages and $41 for soap. The incomes were paid during the month, but the energy bill and also soap bills to be not. What is Acme"s earnings or loss this month?
The unadjusted psychological balance for provides shows a $634 balance. If $532 of provides were used during the period, the adjusted balance for provides would be
If Holiboards reverted $2750 of snowboards come a supplier i beg your pardon of the following entries would be provided to document the transaction
Torres inc purchases $4800 of perform on account native Leo corp. The newspaper entry to document this acquisition for Torres under a perpetual inventory mechanism is
TNT corp. Pays an invoice for $4500 gradually to take a 5% discount. The journal entry to document the payment of this invoice is
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