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iren [92.7K]
3 years ago
13

Accumulated Depreciation and Depreciation Expense are classified, respectively, as _____. (A) asset, contra liability (B) expens

e, contra asset(C) revenue, asset (D) contra asset, expense
Business
1 answer:
andrew-mc [135]3 years ago
7 0

Answer:

(D) contra asset, expense

Explanation:

Accumulated depreciation is a contra asset. When preparing ledger accounts, it will be credited hence will have a credit balance.It is also recorded in the balance sheet. On the other hand, depreciation expense is considered an operating expense. It is included as an item in the income statement when calculating a business's net income.

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Select the correct answer.
Helga [31]

Answer:D

Explanation:                        :) trust me look at meh face

6 0
3 years ago
Jermaine lives in a world where the nominal interest rate is 3% and the inflation rate is 1%. today, jermaine has $200, with whi
Assoli18 [71]
<span>Divide $200 by 80 to get $2.50 price per zap. At 3%, Jermaine's $200 would grow to $206 ($200 x 1.03) = $206 by the end of the year. At the end of one year he would have $6 more and would be able to purchase two more zaps (2 X ($2.50 X 1.03), or 2 X $2.575 = $5.15) He would have $.85 left in change.</span>
4 0
3 years ago
Garcia Co. sells snowboards. Each snowboard requires direct materials of $100, direct labor of $30, and variable overhead of $45
jeka57 [31]

Answer:

Selling Price per unit = $287.5 per unit

Explanation:

Provided quantum of sales = 10,000 units

Cost statement for 10,000 units

Direct material = $100 \times 10,000 = $1,000,000

Direct Labor = $30 \times 10,000 = $300,000

Variable Overhead = $45 \times 10,000 = $450,000

Fixed Overhead Costs = $635,000

Fixed Selling and administrative Cost = $115,000

Total = $2,500,000

Add: Profit mark up 15% = $375,000

Total Selling Value = $2,875,000

Selling Price per unit = $2,875,000/10,000 = $287.5 per unit

6 0
3 years ago
Suppose that the federal reserve decides to decrease the money supply with a $300 sale of treasury bills. Complete the tables th
ANEK [815]

The monetary base is a liability, whereas Treasury notes are assets.

tables that represent the financial position of the federal reserve and commercial banks after this open-market operation:

A $ 300, B $ 300, C $ -300, D $ 300

a negative sign use for reduced values.

<h3>What do we mean by asset?</h3>

A resource having economic worth that a person, business, or nation owns or manages with the hope that it will someday be useful is referred to as an asset. A company's balance sheet lists assets. They are acquired or produced to raise a company's value or improve the operations of the company. Physical commodities like equipment, real estate, raw materials, and inventories are considered assets. Intangible objects like patents, royalties, and other forms of intellectual property are also considered assets.

To know more about asset visit:

brainly.com/question/13848560

#SPJ4

3 0
1 year ago
While searching Ancestry.com, you learn that you are a direct descendant and sole living heir of Alexander Hamilton who founded
34kurt

Answer:

C. $1.24 million

Explanation:

Given that

Annualized interest compounded = 5%

For monthly, it would be = 5% ÷ 12 months = 0.4167%

Time = 235 years

For monthly, it would be = 235 years × 12 months = 2,820

Present value = $10

We know that

Future value = Present value × (1 + interest rate)^number of years

                     = $10 × (1 + 0.4167%)^2820

After solving this, the answer would be  $1.24 million

6 0
3 years ago
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