Answer:
$28,000
Explanation:
Data provided in the question:
Cost of the building purchased = $140,000
Estimated salvage value = $8,000
Expected useful life = ten years
Now,
Annual rate of depreciation using the double-declining-balance method
= 2 × [ 100% ÷ (Useful life )]
= 2 × [ 100% ÷ 10 ]
= 2 × 10%
= 20% or 0.20
Therefore,
Depreciation expense for 20X1 = Cost of building × Rate of depreciation
= $140,000 × 0.20
= $28,000
Answer:
E. $107,000.
Explanation:
The computation of the non-controlling interest of earnings share is shown below:
= Revenue - Expense - allocation of Amortization of fair value
= $2,700,000 - $2,100,000 - $65,000
= $535,000
Now 80% is purchased by the Renz Co
So 20% would be owned by sogers Corp. So
That means
= $535,000 × 20%
= $107,000
Hence, the correct option is e. $107,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
b. is a positive statement
Explanation:
Positive statements describes what is and not ones personal opinion or value judgements.
An example of a positive statment is when prices increase, demand falls.
A normative statement describes value judgement and it is not based on empirical evidence.
An example of a normative statment is the government ought to increase prices of junk food so people can eat more healthy food.
I hope my answer helps you