A change from straight-line depreciation to double-declining-balance depreciation would be reported as a restatement of the prior period statements only.
The term depreciation refers to an accounting technique used to spread the cost of a tangible or physical asset over its useful life. Depreciation indicates how much of an asset's value has been used. It allows companies to generate income from the assets they own by making payments over a period of time.
Depreciation expense is apportioned to charge a reasonable portion of the depreciation amount for each accounting period over the expected useful life of the asset. Depreciation includes the depreciation of assets with a predetermined useful life.
Learn more about depreciation here:brainly.com/question/1203926
#SPJ4
Answer:
To pay in taxes, to purchase goods to make things if the business is a factory etc. hope this helps
Explanation:
Answer:
C.$16 of overhead cost should be assigned to each wooden gazebo and
$40 of overhead cost should be assigned to each metal gazebo
Explanation:
2,000 wooden x 4 hours = 8,000 labor hours
500 metal x 10 = 5,000 labor hours
total hours 13,000
single manufacturing overhead: 52,000 / 13,000 = $4 per labor hours
wooden gazebos: 4hours x $4 = $ 16
metal gazebos: 10 hours x $4 = $40
Communication skills are increasingly important because
success in business is often anchored on effective communication. Emails and
web content are the most common activities of business communications in order
to close deals and promote products and services. The better and clearer the communication,
the more successful the transmission of ideas and response of clients and
partners become.
Answer:
OPtion (C) is correct.
Explanation:
Given that,
Issuance of common stock = $100,000
Dividends paid to the company's stockholders = $2,000
Depreciation expense = $6,000
Repayment of principal on bonds = $40,000
Proceeds from the sale of the company's used equipment = $39,000
Purchase of land = $230,000
Cash flow from financing activities:
= Issuance of common stock - Dividends paid to the common stockholders - Repayment of principal on the company's own bonds
= $100,000 - $2,000 - $40,000
= $58,000
Therefore, the net cash inflow from financing activities is $58,000.
