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vivado [14]
3 years ago
8

A plant asset was purchased on January 1 for $80,000 with an estimated salvage value of $20,000 at the end of its useful life. T

he current year's Depreciation Expense is $10,000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $20,000. The remaining useful life of the plant asset is ________ years.
A : 7
B : 5
C : 4
D : 15
How is it calculated?
Business
1 answer:
avanturin [10]3 years ago
3 0

Answer: C - 4

Depreciation expense = ( Asset cost - Salvage value ) / useful life

$10,000 = ( $80,000 - $20,000 ) /useful life

Useful life = $60,000 / $10,000

Useful life = 6 years

Accumulated deprecation = $20,000 which is the sum of depreciation expense for two years

The remaining useful life = 6 -2 = 4 years

Explanation:

Deprecation expense is the yearly deprecation recorded on the income statement. Accumulated Depreciation is the sum of all the depreciation expenses that has being recognised on the income statement.

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Gramm–Leach–Bliley Act

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3 years ago
Before making a turn at an intersection, you should signal at least __________ before your intended turn.
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100

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Suppose a stock market boom makes people feel wealthier. The increase in wealth would cause people to desire: a) increased consu
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Answer:

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Explanation:

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The boom in the stockmarket means people investment has appreciated hence are able to save and increase their consumption spending.

A shift in demand curve to the right means an increase in the quantity demand of goods and services while a shift in demand curve left means a decrease in the quantity demand of goods and services.

Other factor that could cause increased consumption and shifts in aggregate demand curve right is tax decrease. Tax is a compulsory levy imposed on an individual or an organization by the government.

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Scientific management in the modern era is helped in the enhanced production. The employees perform repetitive tasks and are therefore easily controlled by the management.

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