3 years ago

When recording depreciation, which of the following statements is true?

Business

1 answer:

professor190 [17]3 years ago

5 0

Answer:

D. None of the above are true.

Explanation:

As while recording depreciation, the total assets is decreased and the stockholder equity is also decreased as depreciation is a contra asset account

In the side of stockholder equity, the net income, the retained earning and the stockholder equity is decreased

whereas, the total asset is decreased as the amount of asset is reduced by deducting the accumulated depreciation amount

The journal entry is shown below for better understanding

Depreciation Expense A/c XXXXX

To Accumulated Depreciation XXXXX

(Being depreciation expense is recorded)

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Answer:

Annual depreciation= $4,000

Explanation:

Giving the following information:

The cost of the machine was $29,000. Its estimated residual value was $9,000 at the end of estimated 5-year life.

<u>To calculate the depreciation expense, we need to use the following formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (29,000 - 9,000)/5

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3 years ago

Problem 13-13 A mail-order house uses 18,000 boxes a year. Carrying costs are 60 cents per box a year, and ordering costs are $9

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Answer:

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Explanation:

See attached file

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3 years ago

Which of the following are automatically withheld from paychecks?

Dimas [21]

Taxes are automatically withdrawn from paychecks.

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3 years ago

The Hoyt and Burgess models of land use both assume that __________. A. growth expands in zones along railroads and highways B.

algol13

The answer is D I hope this will help you.

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2 years ago

Compute the amount of raw materials used during November if $31,500 of raw materials were purchased during the month and if the

mezya [45]

Answer:

Raw materials used during November was $34,800.

Explanation:

The formula for Raw Materials Used is given below:

Opening Raw Materials + Purchases - Closing Raw Materials = Raw Materials Used

Putting Values:

⇒ Raw Materials Used = 7,600 + 31,500 - 4,300 = $34,800.

Thanks!

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3 years ago