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raketka [301]
3 years ago
12

The Accumulated Depreciation account is shown on the balance sheet as a liability. 1. is a contra asset account with a credit ba

lance. 2. is shown as an expense on the income statement. 3. is a contra revenue account with a debit balance.
Business
2 answers:
inessss [21]3 years ago
4 0

Answer:

Option 1 is correct because accumulated depreciation account is contra asset account and has a credit balance that is adjusted in the balance sheet. This accumlated depreciation is adjusted against the value of the asset when the asset is sold or disposed off.

Explanation:

Other options are incorrect because Accumulated depreciation is contra asset account and is credit in nature, not debit in nature. Furthermore, saying that accumulated depreciation account is contra revenue account which is also incorrect.

andre [41]3 years ago
3 0

Answer:

1. is a contra asset account with a credit balance.

Explanation:

Depreciation means reduction in the value of an asset due to reasons such as wear and tear, obsolescence and passage of time. It is type of a provision. Depreciation is deducted from the value of an asset on a regular basis that is on a yearly basis.

Accumulated depreciation on the other hand means collection of depreciation on an asset for a period of time until and unless that particular asset is disposed off. It is not provided on the asset on a regular or yearly basis.

Accumulated depreciation account is a contra asset account with a credit balance because this is the only account which is though a liability with a credit balance is shown on the assets side of the balance sheet proving it a contra asset.

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3 years ago
What is the IRR for a project that costs $100,000 and provides annual cash inflows of $30,000 for 6 years starting one year from
ahrayia [7]

Answer:

A) 19.91%

Explanation:

Net present value of cash flow at 19.91% can be calculated as follows

- 100000 + 30000/1.1991 + 30000/ (1.1991)² + 30000/(1.1991)³ + 30000/ (1.1991)⁴ +30000/(1.1991)⁵ + 30000/ (1.1991)⁶

= -100000 + 25018 +20864 +17400 +14511 +12101 +10092

= 0 ( approx )

So  the IRR for the  project is 19.91 % .

8 0
3 years ago
In his job, Damon often identifies causes of problems with telecommunication equipment. Which is most likely his employer?
Nonamiya [84]

Answer:

B) a local cable company

Explanation:

A local cable company provides communication services using underground cables. Service offed by a cable company includes televisions, internet connectivity, and telephone services. Such a company needs communication equipment to facilitate signal and message transmission.

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7 0
2 years ago
Henrietta is interested in moving her organization toward being a true learning organization. what might be one way in which she
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6 0
3 years ago
You are analyzing a project with 5-year life. The project requires a capital investment of $10000 now, and it will generate unif
Bess [88]

Answer:

NPV= $13160

Explanation:

To calculate the present value you need to use the Net Present Value. The NPV is the difference between the present value of cash inflows and the present value of cash outflows over a period of time.

The formula is:

                      n

<h3>NPV= -Io + ∑[Rt/(1+i)^t</h3>

                     t-1

where:

R t​     =Net cash inflow-outflows during a single period t

i=Discount rate of return that could be earned in alternative investments

t=Number of timer periods

In this exercise:

0= -13000

1= 6000

2= 6000

3=6000

4=6000

5=6000 + 3000 + 2500= 11500

NPV= -13000 + (6000/1.10^1) + (6000/1.10^2) + ... + (115000/1.10^5)

NPV= $13160

6 0
3 years ago
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