In a business, the useful life of a machinery depends on its usage.
Let us assume that the useful life of the machine is 5 years.
cost of 500,000 ; useful life - 5 years ; further assume that there is no salvage value and no section 179 election and no out of bonus depreciation.
We will use the straight line method of depreciation. It is dividing the cost by its useful life.
500,000 / 5 years = 100,000 depreciation expense per year.
Since he only bought it on July 1, it can only be depreciated for 6 months.
100,000 * 6/12 = 50,000 depreciation expense for year 2015.
A financial statement audit is the examination of an entity's financial information and accompanying exposures by a liberated auditor.
<h3>What is the main objective of the audit of financial statements?</h3>
The purpose of an audit of financial statements is to enable the auditor to communicate an opinion on whether the financial statements are prepared, in all material respects, by an applicable monetary reporting framework.
External auditors are accountable for auditing the company's financial statements and delivering reasonable assurance that they are presented fairly and following GAAP and that they recollect a true representation of the company's financial position and end of operations.
To learn about financial statements visit the link
brainly.com/question/14951563
#SPJ4
Answer:
Option C is correct
Explanation:
Since it is a specific sales tax, the effect would be shifted to the consumers. The optimal output would be determined by
MR= MC + T =MCT
MR= marginal revenue, MC = marginal cost, T = tax
That mc curve would shift to mct which is the new equilibrium
Answer:
a. total variable cost divided by the level of output
Explanation:
We divide the total variable cost by the level of output to find the Average variable cost
therefore,
Average variable cost is equal to the total variable cost divided by the level of output.
Answer:
the correct answer is interest, loans
Explanation: