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10 months ago

The cost of a plant asset includes the following? depreciation expense disposal cost purchase price cost to prepare it for use

1 answer:

4 0

TRUE, the cost of a plant asset includes depreciation expense disposal cost purchase price cost to prepare it for use.

The monetary value of an asset decreases over the years because of use, wear and tear or obsolescence. This lower is measured as depreciation. Description: Depreciation, i.e. a lower in an asset's cost, can be as a result of some of other factors as nicely including detrimental market conditions, and so on.

Depreciation represents the predicted discount in cost of a hard and fast property within a fiscal yr. Tangible belongings, along with homes, systems, cars and so forth, are purchased in massive lump sums.

An example of Depreciation – If a shipping truck is purchased by using a business enterprise with a fee of Rs. 100,000 and the expected usage of the truck are five years, the commercial enterprise may depreciate the asset under depreciation cost as Rs. 20,000 every 12 months for a duration of 5 years.

Learn more about depreciation here:brainly.com/question/1203926
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How does analytical skills help to solve problems

stiks02 [169]

Answer:

■ how does analytical skills help to solve problems

➢ Analytical skills

The ability to examine information or a situation in detail in order to identify key or important elements, their strengths and weaknesses and use these to compile a persuasive argument, make recommendations or solve a problem.

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3 0

1 year ago

Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company, proposes t

hram777 [196]

Answer:

Scarlet Knight Corporation

Posting of transactions:

1. Owners invest $5,500 in the company and receive common stock. Common Stock 5,500 Cash 5,500

Wrong. Correct Posting: Cash 5,500 Common Stock 5,500

2. Receive cash of $2,100 for services provided in the current period. Cash 2,100 Service Revenue 2,100

Correct.

3. Purchase office supplies on account, $110. Supplies 110 Cash 110

Wrong. Correct Posting : Supplies 110 Accounts Payable 110

4. Pay $410 for next month's rent. Rent Expense 410 Cash 410

Wrong. Correct Posting: Rent Prepaid 410 Cash 410

5. Purchase office equipment with cash of $1,250. Cash 1,250 Equipment 1,250

Wrong. Correct Posting: Equipment 1,250 Cash 1,250

Explanation:

1. Owners invest $5,500 in the company and receive common stock. Cash is increased and Common Stock increased by $5,500.

2. 2. Receive cash of $2,100 for services provided in the current period.

Cash is increased and Service Revenue increased by the same amount.

3. Purchase office supplies on account, $110.

No cash payment is involved with this transaction since it was on account. The accounts involved and which increased by $110 are Supplies and Accounts Payable.

4. Pay $410 for next month's rent. The amount is for next month. As such no Rent Expense account is involved. Instead, the accounts involved are Rent Prepaid and cash. While Rent Prepaid increases, Cash is reduced.

5. Purchase office equipment with cash of $1,250. Equipment received value and will increase by $1,250 while Cash gave value and will reduced by $1,250 and not vice versa.

6 0

3 years ago

Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, inclu

xenn [34]

Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, including pilots. Employees exempt from the Fair Labor Standards Act's overtime provisions include all of the following except (A) aircraft mechanics

Explanation:

Section 13(a)(1) of the Fair Labor Standards Act's-FLSA provides an exemption from both minimum wage and overtime pay for employees who are employed as bonafide executive, administrative, professional and outside sales employees.

Section 13(a)(1) and Section 13(a)(17) of Fair Labor Standards Act's also exempt certain computer employees.

To qualify for exemption under the Fair Labor Standards Act , employees generally must meet certain tests regarding their job duties and be paid on a salary basis at not less than $684* per week.

6 0

2 years ago

Calculate the yield to maturity (YTM) for a one-year bond with a purchase price of $8,000, a face value of $10,000, and a curren

Mazyrski [523]

Answer:

yield to maturity YTM = 35%

Explanation:

given data

purchase price = $8,000

face value = $10,000

current yield = 10%

solution

we get here yield to maturity YTM

so first we get Annual Coupon by current yield that is express as

Current yield = annual coupon ÷ current price ..............1

put here value we get

Annual Coupon = 10 % × 8,000

Annual Coupon = $800

now we get YTM by purchase price that is

purchase price = Annual Coupon ÷ ( 1+YTM ) + face value ÷ ( 1+YTM ) .......2

put here value we get

8,000 = $\frac{800}{1+YTM} +\frac{10000}{1+YTM}$

solve it we get

yield to maturity YTM = 35%

5 0

2 years ago

How do trade-offs decided by corporations and government impact our lives?

Fittoniya [83]

Explanation:

Trade offs are something in which there are two things and we choose one of them according to our own preference or need. This is and should be our personal decision, but when Corporations and Governments decide on what to choose between two things, there would might be a negative impact on someone's life. He might feel controlled by the corporations and governments. For example, if corporations of CNG decides with the government that it is better for consumers to use CNG than Petrol in their cars, and lowers taxes on CNG and encourage consumers to shift towards CNG, then this trade off will have an impact of being controlled by the big giants. The choice should be of consumer's. The consumer should be the one who will trade off between things who are preferable for him.

8 0

2 years ago