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1 year ago

What should the accumulated depreciation equal at the end of the asset's useful life?

1 answer:

8 0

What should the accumulated depreciation equal at the end of the asset's useful life The Balance In Accumulated Depreciation Will Be The Same Amount Under all the depreciation methods.

The depreciation of an asset up to one point in its life is referred to as accumulated depreciation. Since accumulated depreciation is a counter asset account, its natural equilibrium is a credit that lowers the asset's total value. General accepted accounting principles (GAAP) require that expenses be matched to the same accounting period in which the relevant revenue is generated. This is known as the matching principle. A business will depreciate a portion of a capital asset's value over the course of each year of its useful life. This implies that the expense related to using up an asset that has been capitalised is reported every year the asset is put to use and generates income.

Learn more about depreciation here

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Nonprofit agencies are frequently called voluntary service agencies because they use only volunteers to provide services.True /

rodikova [14]

Answer:

The answer is "False".

Explanation:

Nonprofits are taxation-exempt or charity because, they don't pay tax, on their organization's money they earn, that can work in social, scientific, educational, or research settings.

It also makes money, but sometimes they are distinguished, itself to for-profit businesses by the profits they make.

The cash is used to expand the organization, and promote the work further, that's why the answer to this question is false.

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3 years ago

Jacob and Marla were both presented with a complex accounting issue that neither had seen before. Marla was able to look at the

devlian [24]

Answer: Generally, when trying to solve a complex accounting problem in which there are obstacles and little knowledge about the subject, the most advisable thing is to work from a conceptual framework which serves as a guide to find a reasonable answer to the problem in question. In this case Marla was clearly working with a conceptual framework, and instead Jacob was not.

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3 years ago

Memorial Hospital CEO conducts performance reviews of the hospital's departments and discovered that the average cost of deliver

lora16 [44]

Answer:

Memorial Hospital

From the information on how much the hospital is losing on deliveries, the change in profit for each extra delivery is:

= 16.3%.

Explanation:

a) Data and Calculations:

Average cost of deliveries = $5,000

Average revenue per delivery = $4,300 ($5,000 - $700)

Loss on each delivery = $700

The change in profit for each extra delivery is

= 16.3% ($700/$4,300 * 100)

b) The implication of the above information is that the hospital is losing 16.3% each time it performs a delivery because it cost it $5,000 while it can only receive $4,300 from each patient delivered.

4 0

2 years ago

Allison, a long-time employee at aim corporation is helping william, a new employee; learn the culture of the organization. alli

Dmitrij [34]

Hello!

Q: Alison, a long-time employee at AIM Corporation is helping William, a new employee; learn the culture of the organization. Alison is using the _____________ process.

A: Alison, a long-time employee at AIM Corporation is helping William, a new employee; learn the culture of the organization. Alison is using the Socialization process.

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3 years ago

Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u

dezoksy [38]

Answer:

$ 317,000

Explanation:

Octuber Production: 200,000

Variable Overhead: $ 0.80 per unit

Fixed Overhead: $ 157,000

Factory Overhead Budget for October:

Octuber Production x Variable Overhead = 200,000 x 0.80 = 160,000

Variable Overhead: $ 160,000

Fixed Overhead: $ 157,000

Total Overhead: $ 317,000 ( $ 160,000 + $ 157,000 )

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3 years ago