1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OLEGan [10]
3 years ago
5

Depreciation represents the loss in a fixed asset's value due to aging. __________ appears on the income statement and represent

s the reduction in fixed assets' values over the previous accounting period.________ appears on the balance sheet and represents the cumulative value reduction in the firm's present fixed asset holdings since their acquisition.
Business
1 answer:
Amanda [17]3 years ago
4 0

Answer:

The correct words for the blank spaces are: Depreciation expense; Accumulated depreciation.

Explanation:

Depreciation expense and Accumulated expense are typically confused but they are different since the first is reported in the Income Statement while the latter appears on the Balance Sheet as the contra asset.<em> Depreciation expense</em> represents the part of the company's fixed assets that are being used up for production and is compared with the previous period depreciation expense.

<em>Accumulated depreciation</em> is the aggregate depreciation of an asset from all prior periods. Accumulated depreciation is subtracted from the assets' historical cost value which records the value of the assets since they were purchased.

You might be interested in
Shelton Inc. has sales of $17.5 million, total assets of $13.1 million, and total debt of $5.7 million. If the profit margin is
tatiyna

Answer:

$1,050,000

Explanation:

The computation of the net income is shown below:

Net income = Sales revenue × profit margin percentage

                    = $17,500,000 × 6%

                    = $1,050,000

To determine the net income we multiplied the sales revenues by its profit margin percentage so that the correct value could be arrived.

3 0
3 years ago
nyle Corp. owned 100 shares of Beta Corp. stock that it bought in 1993 for $9 per share. In 2014, when the fair market value of
Inga [223]

Answer:

$1100.

Explanation:

We have been given that Nyle Corp. owned 100 shares of Beta Corp. stock that it bought in 1993 for $9 per share. In 2014, when the fair market value of the Beta stock was $20 per share.

Nyle's recognized gain on this distribution would be:

\text{Value of 100 share at a rate of }\$20\text{ per share }-\text{Value of 100 share at a rate of }\$9\text{ per share}

\$20\times100-\$9\times 100=100(\$20-\$9)=100(\$11)=\$1100

Therefore, Nyle's recognized gain on this distribution was $1100.

6 0
3 years ago
If you are falling behind on your student loan payments, which of the following steps should you take to avoid default?
larisa86 [58]
The correct answer among all the other choices is "Contact your lender." If you are falling behind on your student loan payments, this is the step you should take to avoid default. Thank you for posting your question. I hope this answer helped you. Let me know if you need more help. 
7 0
3 years ago
Read 2 more answers
On January 1, 2017, MM Co. borrows $350,000 cash from a bank and in return signs an 4% installment note for five annual payments
frez [133]

Answer:

a. Journal entry to record the issue of notes

Date           Account Title & Explanation   Debit $        Credit $

Jan 1          Cash                                           350,000

                 Notes Payable                                                350,000

                  (To record the issue of notes payable)

b. Calculation of Interest Expenses

                      Particulars                           Amount $

Beginning balance of loan payment         350,000

Annual interest rate                                          4%

Interest expenses                                         14,000

Hence the interest expenses = $14,000

Principal amount is calculated as the difference between the annual payment and the interest expenses as seen below

                   Particulars                           Amount $

Annual payment                                      96,590

Less: Interest expenses                          14,000

Principal Payment                                  82,590

Hence, the principal payment =$82,590

6 0
3 years ago
Acel Co. uses the allowance method to account for bad debts. In January, Acel determined that it could not collect $400 from CTR
Evgesh-ka [11]

Based on the fact that CTR, Inc sent a check to Acel Co, there will be a debit to b. Accounts receivable is debited to reinstate the CTR account.

<h3>Which account will be debited?</h3>

The Accounts Receivable account will be debited by the Allowance for Doubtful Accounts to bring back the written off debt.

The Account Receivable account will then be credited to cash to account for the cash being received.

In conclusion, option B is correct.

Find out more on bad debts at brainly.com/question/26036981

3 0
2 years ago
Other questions:
  • what percentage of motorists have witnessed an act of aggressive driving in the past year, according to the Citizens For Roadsid
    13·2 answers
  • Doromo Inc., a leading manufacturing company, introduced a new product into the market. As a part of this process, the managemen
    14·2 answers
  • Suppose a project will result in an economic benefit of $20 million dollars 25 years from now. If the discount rate is 3%, what
    12·1 answer
  • For a note receivable that was created on November 1, 2018 and is due for repayment on October 31, 2019, what is the time fracti
    13·1 answer
  • You are analyzing the cost of capital for a firm that is financed with 65 percent equity and 35 percent debt. The cost of debt c
    15·1 answer
  • Galaxy, a construction company, buys a particular brand of tiles manufactured by Tiles and Floors, an eco-friendly tile manufact
    14·1 answer
  • According to the dynamic​ ad-as model, what is the most common cause of​ inflation?
    13·1 answer
  • Suppose that Steve heads to the local hamburger shop with $3, expecting to spend $2 for his favorite burger and $1 for French fr
    8·1 answer
  • When Nestor's U.S.-based company purchased a manufacturing facility in China, the company decided to increase the output of the
    13·1 answer
  • if the firm depiced in figure 5 behaves like a perfectly competitive firm, it will chose the output level of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!