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snow_tiger [21]
3 years ago
7

Stanley purchases nonresidential real property costing $300,000 and places it in service in March 2018. What is Stanley's 2019 d

epreciation on the property?a. $6,099 b. $7,692 c. $11,538 d. $12,908
Business
1 answer:
dmitriy555 [2]3 years ago
5 0

Answer:

b. $7,692

Explanation:

Given that the useful life of nonresidential real property is 39 years,

Cost of property = $300,000

Month of purchase = March 2018

Depreciation for 2019 = Cost/Useful life

                                    = $300,000/39

                                    = $7,692.31

                                    ≈ $7,692

The property will be depreciated for the 12 months in 2019 and the depreciation expense is  $7,692. Option b.

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Answer:

FALSE

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The reverse is true because projects are time-bound and they come to an end when their objectives have been achieved, but company operations are expected to continue as a going concern.

A project is an activity to meet the creation of a unique product or service, an thereafter terminates while operations are day to day routine activities that are expected to continue

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No

Explanation:

Long term bonds might not be great investments if the interest rate fall  or even slide into negative value in the future. This means that the bond will become insignificant in value.  

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scZoUnD [109]

Answer:

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________________________________

<em>Compound </em><em>interest</em><em>.</em><em> </em><em>The </em><em>interest</em><em> </em><em>which </em><em>is </em><em>added </em><em>on </em><em>to </em><em>the </em><em>initial</em><em> </em><em>investment</em><em>,</em><em> </em><em>so </em><em>that</em><em> </em><em>this </em><em>will </em><em>itself</em><em> </em><em>gain </em><em>interest </em><em>in </em><em>subsequent</em><em> </em><em>perio</em><em>d</em><em>s.</em>

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2 years ago
Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning
spayn [35]

Answer and Explanation:

The computation is shown below

1. The adjusted balance in the retained earning is shown below:

= beginning balance of retained earning + adjusted net income

where,

beginning balance of retained earning is $860,000

And, the adjusted net income is

= $68,000 × (1 - 0.35)

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So, the adjusted balance in the retained earning is

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2. Now the journal entry is

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      To Retained earning $44,200

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(Being the adjustment of ending inventory is recorded)

It increased the inventory and along with it it also increased the equity and liabilities so the respective account is debited and credited

6 0
3 years ago
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GenaCL600 [577]

Answer:

a) functional planning

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The functional planning is the planning that need to be done for each type of department so that the goals and the objectives of the company could be accomplish in a efficient and effective manner

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6 0
3 years ago
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