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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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Rom4ik [11]

Answer:

The correct answer is letter "C": job description.

Explanation:

A job description outlines the role of the employees within their organizations. It establishes the behavior expected from the workers in the work frame and the duties attached to their job position. The job description is a brief summary of what the employees would be doing in their day-to-day activities at work.

7 0
3 years ago
he manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indica
Fofino [41]

Answer:

To calculate the total cash disbursement for manufacturing overhead, take the total manufacturing overhead cost less depreciation.

Total manufacturing overhead cost

= Variable costs + Fixed costs

= (direct labor hours x rate per direct labor hour) + Fixed costs

= (3000 x $5) + $43140

= $15000 + $43140

= $58140

Cash disbursement cost

= Total manufacturing overhead cost - depreciation

= $58140 - $3620

= $54520

The January cash disbursement for manufacturing overhead is $54520.

Explanation:

A few key points to remember:

Fixed manufacturing overhead cost is all the costs of production which stay constant such rent, depreciation, etc. In other words components in the manufacturing process which stay constant.

Variable cost is based on the number of direct labor hours and the rate allocated per direct labor hour.

When calculating the cash disbursement, depreciation is taken out as a fixed component from the total manufacturing cost as it is not a cash outlay even though it is a fixed cost. Hence cash disbursement is calculated on the total manufacturing overhead less depreciation.

6 0
3 years ago
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The answer is false i hope this helps :3
4 0
3 years ago
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On January 1, 2020, Swifty Corporation established a stock appreciation rights plan for its executives. It entitled them to rece
OleMash [197]

Answer:

$620,000

Explanation:

The amount of compensation expense that Korsak should recognize for the year ended December 31, 2022:

= [($34-$20)*124,000*3/4] - [($31-$20)*124,000*2/4]

= [$14*124,000*3/4] - [$11*124,000*2/4]

= $1,302,000 - $682,000

= $620,000

Note: The answer is not included in the option above

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2 years ago
moriband corp. paid a dividend of $2.15 yesterday. the company’s dividend is expected to grow at a steady rate of 5 percent for
BaLLatris [955]

The present market price of Moribund stock stands at $22.58.

<h3>What is market price?</h3>
  • Market value is another term for current price. It is the most recent price at which a share of stock or other security was traded. The current price serves as a baseline in an open market.
  • The market price is the current cost of purchasing or selling an asset or service. The details of supply and demand decide the market price of an investment or assistance.
  • The market price is the price at which quantity supplied equals quantity demanded.
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To learn more about market price, refer to:

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