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1 year ago

Using the straight-line method, depreciation for 2024 and book value on december 31, 2024, would be:

Business

1 answer:

ludmilkaskok [199]1 year ago

8 0

Using the straight-line method, depreciation for 2024 and book value on december 31, 2024, would be: Same

<h3>Define Straight-line method .</h3>

A technique of calculating periodic Depreciation that entails deducting the scrap value from the cost of a depreciable asset and dividing the resulting amount by the projected number of periods of usable life of the asset.

The cost of an item is evenly dispersed across the period of time it will be utilized, or its "useful life," using straight-line depreciation. It simply needs three inputs to calculate: the asset's cost, its usable life, and its anticipated salvage value, which is how much the item will probably be worth .

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Which of the following does not represent a copyright?

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Answer choreographing a dance step by step

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3 years ago

you learned a variety of fundamental economic concepts. Identify two of the following principles, and apply them to the real-wor

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Answer:

Government policies can help stabilize the economy.

Economic condition of any economy can be determined by determining its GDP and level of employment in the economy. Government policies like Fiscal or Monetary Policies can help stabilize the economy. If the economy is passing through recession,the expansionary monetary or fiscal policies can be implemented by the government. Government can reduce the CRR and Repo Rate and relaxes taxation policy so that more amount is left with the people to raise their living standards. On the other hand, at the time of prosperity,contractionary monetary or fiscal policies can be used . CRR and Repo Rate can be raised and tight taxation policy leave the public with less disposable income and thus their demands come down.

Increasing productivity leads to economic growth

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Thus we can say that Increasing productivity leads to economic growth.

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3 years ago

Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with can

oksano4ka [1.4K]

Answer:

Harrison company

Step 1.

Preparation of adjusted Cash Book

Balance as at July 31, 2016 = $40,293

Add: bal. of Deposit by credit customer = ($3,100 - $310) = $2,790

Deduct: Bank Service charge = -$30

Deduct: NSF checks = -$1,750

Deduct: loan repayment plus interest = -$3,870

Adjusted Balance =$37,433

Step 2. Bank reconciliation statement

As at 31st July 2016

Balance as per Bank Statement = $38,293

Deduct: uncleared Cheques = -$8,530

Add: Deposits outstanding = $7,400

Add: over disbursement by bank due for recovery = $270

Adjusted Bank Statement = $37,433

Compared to Adjusted Cash Book = $37,433

Difference = $0.

Step 3.

Journal entries required

Debit Cash Account with $2,790

Credit Account Receivables with $2,790

(Under recorded Customer deposit on sales)

Debit NSF expense = $1,750

Debit Loan Account with $2,900

Debit interest on Loan Account with $970

Debit Bank Charges expense a account with $30

Credit Cash Account with $5,650

(Direct debits to bank account on sundry transactions)

Explanation:

A bank reconciliation statement is presented to reconcile a 3rd party (Bank) statement of our Account and the Account maintained by the business in house.

The objective of the Bank reconciliation statement includes:

1. Identify the missing entries in either records

2. Flag the corrections the Bank needs to do to bring our balance to a correct state

3. Pass Journals to capture entries we have missed out or captured incorrectly

4. Identify unassigned entries for investigation

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3 years ago

One item that appears on an insurance company's financial statements is a liability that represents an estimate of the claims re

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3 years ago

Financial statements with data for two or more successive accounting periods placed in columns side by side, sometimes with chan

RideAnS [48]

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3 years ago