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3 years ago

The periodic expensing of an asset over the property's theoretical economic life is referred to as what

1 answer:

8 0

The periodic expensing of an asset over the property’s theoretic economic life is known as the depreciation. Depreciation occurs when there is a presence of the utility’s loss and in the same time, there is a physical deterioration or economical obsolesce that causes a value or that both may occur in the same time.

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Amber Corporation donated inventory of clothing (basis of $136,000, fair market value of $170,000) to a qualified charitable org

viva [34]

Answer:

charitable contribution deduction = $153000

Explanation:

given data

basis = $136,000

fair market value = $170,000

solution

we get here charitable contribution deduction that is express as

charitable contribution deduction = Basis + 50% of (Fair - basis) .......................1

put here value and we get

charitable contribution deduction = $136,000 + 0.50 ($170,000 - $136,000 )

charitable contribution deduction = $153000

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3 years ago

Charlotte has just taken a job at a local publishing house. she has a lot of tasks to accomplish today, but her first task is to

Scrat [10]

so she wants to make sure all her correspondence with the authors is professional and looks formal. charlotte has added a citation to the documents on which she is working. in the process of her doing so, word has added the source that she introduced to a ____ of sources, which is now available to any document created using the same user account on that computer.

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3 years ago

Consider an imaginary economy that has been growing at a rate of 6% per year. Government economists have proposed a number of po

Natasha2012 [34]

Answer:

11.67 years

Explanation:

The rule of 70 requires that in determining when the economy growth rate will double its current growth rate, the appropriate thing to do is divide 70 by the current growth rate of 6% per year.

The economy's growth rate of 6% has its percentage ignored when the calculation is carried out.

=70/6= 11.67

The current economy's growth rate would double in 11.67 years' time

8 0

2 years ago

Explain how a person can use technology wisely

oksano4ka [1.4K]

Making money off of it

5 0

2 years ago

A process control system costs $200,000, has a three year service life, and a salvage value of $20,000. Find the depreciation an

Advocard [28]

Answer:

Depreciation expense each of the three years would be $60,000

Book value at the end of year 1 = $140,000

Book value at the end of year 2 =$80,000

Book value at the end of year 3 = $20,000

Depreciation expense in year 1 =$90,000

Depreciation expense in year 2 =$60,000

Depreciation expense in year 3 =$30,000

Book value at the end of year 1 =$110,000

Book value at the end of year 2 = $50,000

Book value at the end of year 3 = $20,000

Depreciation expense in year 1 = $133,333.33

Book value at the end of year 1 = $66,666.67

Depreciation expense in year 2 = $44,444.45

Book value at the end of year 2 = $22,222.22

Depreciation expense in year 3 = $14,814.16

Book value at the end of year 3 = $7,407.40

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($200,000 - $20,000) / 3 = $60,000

Depreciation expense each of the three years would be $60,000

Book value at the end of year 1 = $200,000 - $60,000 = $140,000

Book value at the end of year 2 = $140,000 - $60,000 = $80,000

Book value at the end of year 3 = $80,000 - $60,000 = $20,000

Sum-of-the-year digits = (remaining useful life / sum of the years ) x (Cost of asset - Salvage value)

Sum of the years = 1 + 2 + 3 = 6 years

Depreciation expense in year 1 = (3/6) x ($200,000 - $20,000) = $90,000

Depreciation expense in year 2 = (2/6) x ($200,000 - $20,000) = $60,000

Depreciation expense in year 3 = (1/6) x ($200,000 - $20,000) = $30,000

Book value at the end of year 1 = $200,000 - $90,000 = $110,000

Book value at the end of year 2 = $110,000 - $60,000 = $50,000

Book value at the end of year 3 = $50,000 - $30,000 = $20,000

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2/3

Depreciation expense in year 1 = (2/3) x $200,000 = $133,333.33

Book value at the end of year 1 = $200,000 - $133,333.33 = $66,666.67

Depreciation expense in year 2 = (2/3) x $66,666.67 = $44,444.45

Book value at the end of year 2 = $66,666.67 - $44,444.45= $22,222.22

Depreciation expense in year 3 = (2/3) x$22,222.22 = $14,814.16

Book value at the end of year 3 =$22,222.22 - $14,814.16 = $7,407.40

4 0

3 years ago