Answer:
The straight line depreciation for the first year is $24000
Explanation:
The straight line method of depreciation charges/allocates a constant amount of depreciation through out the useful life of the asset. The straight line depreciation expense for the year is calculated as follows,
Straight line depreciation = (Cost - Salvage Value) / Estimated useful life
Straight line depreciation = (135000 - 15000) / 5 = $24000 per year
Thus, the amount of depreciation for first year under straight line method is $24000
Answer:
False
Explanation:
It is FALSE that Month-end and Year-end process helps to write-off bad debts.
This is because both month-end and year-end processes are processes specifically carried out to adjust all account balances to make and depict the actual financial activities of the firm. This assists the firm's management team to make a further decision, but not to just write-off bad debts.
Bad debt is written off only when a customer invoice is deemed to be uncollectible.
its all da same because it just a company
Answer:
The answer is cost accounting system.
Explanation:
Cost accounting is a tool that allows you to estimate the actual price of the products, which allows you to establish a profit margin for each unit sold. Depending on the activity of the company, several techniques are used such as production costing, process costing, standard costing, absorption costing, etc.
