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2 years ago

________ is an accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life.

1 answer:

6 0

depreciation is an accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life.

The term depreciation refers to the accounting method used to spread the cost of a tangible or physical asset over its useful life. Depreciation indicates how much of the value of an asset has been used. It allows businesses to generate income from the assets they own by paying them over a period of time.

From an accounting perspective, depreciation is defined as a systematic reduction in the recorded cost of a fixed asset until the value of the asset becomes zero or negligible. Examples of fixed assets include buildings, furniture, office equipment and machinery.

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Brian wants to buy a mare that he can breed to help develop a horse operation. Larson offers to sell Brian a horse that Larson b

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Answer:

The correct answer is C: likely that a court will allow the rescission based on a mistake of fact.

Explanation:

Brian was not aware of that fact that the horse is incapable of breeding at the point he buys it, but Larson assures Brian the horse is healthy. In this light, if Brian sues to cancel the contract with Larson, the court will allow it based on a mistake of fact. This way the court will reduce any civil liability or criminal culpability because Larson might not know that the horse cannot breed, although he is certain that the horse is healthy.

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4 years ago

Zink Co.’s defined benefit pension plan had plan assets with a fair value of $325,000 at December 31, 2013, and of $375,000 at D

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Answer:

$ 70,000

Explanation:

Beginning plan assets = $ 325,000

Contribution to the plan = $ 130,000

Thus, the total assets available = $ 325,000 + $ 130,000 = $ 455,000.

Now,

The assets distributed = $150,000

Therefore,

the balance left after distribution = total assets available - assets distributed

the balance left after distribution = $ 455,000 - $ 150,000 = $ 305,000

Also,

the actual ending balance = $ 375,000

Hence, the difference of the balance left after distribution and the actual ending balance represents the return on plan assets.

therefore,

The return on plan assets = $ 375,000 - $ 305,000 = $ 70,000

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3 years ago

A company just starting business made the following four inventory purchases in June:June 1 150 units $ 390 June 10 200 units 58

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3 years ago

Mackay gives a list of items (starting with "Two lasts of wheat, 448 florins") that were traded for one tulip root. He could hav

Oksana_A [137]

Answer:

For a better valuation of trade.

Explanation:

Mackay could have left out this list and simply said that the root cost 2500 florins. But he gave the list to have a better understanding of the valuation of trade. Now, the cost could have simply being layed out. But then this list helped helped to give a better perspective of the valuation of the bulb and also how it could be used to replace money

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3 years ago

If the demand for donuts is elastic, then a decrease in the price of donuts will a. not change total revenue of donut sellers. b

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Answer:

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes

If demand is elastic and price is decreased, the quantity demanded would increase more than the change in price. As a result, revenue would increase

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3 years ago