Answer:
$69,000
Explanation:
The double-declining method uses twice the rate of the straight-line depreciation method.
In this case, we need to determine the depreciation rate under the straight-line method. The asset has a useful life of 5 years.
the depreciation rate = 1/5 x 100
=0.2 x 100
=20%
The Depreciation rate for the double-declining method is 40%. The straight-line method considers salvage value at the beginning, but double-declining depreciates until the salvage value.
In the first year under the double-declining method, the depreciation amount was $27,600.
It means 40% of the asset cost is $27,600.
The asset cost is 100%
40%=$27,600
100% = 27,600/40 x 100
=$690 x 100
=$69,000
Asset cost = $69,000
When proprietors decide to combine their business and form a partnership, gaap usually requires that non cash assets be taken over at : C. fair market vale
The data will be used to calculate the percentages of ownership of each combined companies
hope this helps
The answer is moral holiday. Taking a moral holiday means temporarily
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depressed by depressing realities. In other words, there are specified times
when people are allowed to break norms. The best example is during Mardi gras.
The five C's of credit<span> is a system used by lenders to gauge the creditworthiness of potential borrowers. The system weighs five characteristics of the borrower and conditions of the loan, attempting to estimate the chance of default. The five </span>C's of credit<span> are character, capacity, capital, collateral and conditions.
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In a condition wherein a machine costing $148,000 and accumulates depreciation of $103,000 is sold for $59,000 cash, then the amount that should be reported as a source of cash under the cash flows from investing activities will be $59,000. Therefore, the option C holds true.
Cash flows from investing activities include the amount(s) spent by an organization over investing in different classes of assets with a view to pursue monetary returns. They include the amounts that are received or sent as cash at the time of purchase or sales of an asset of an organization.
Learn more about cash flows here:
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Complete question
g a machine with a cost of $148,000 and accumulated depreciation of $103,000 is sold for $59,000 cash. the amount that should be reported as a source of cash under cash flows from investing activities is:
a. Zero.
b. This is a financing activity.
c. $59,000.
d. $14,000.
e. This is an operating activity.
f. $45,000.
