Answer:
A. $53,167
Explanation:
The computation of the depreciation expense under the straight-line method is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($328,000 - $9,000) ÷ (6 years)
= ($319,000) ÷ (6 years)
= $53,167
In this method, the depreciation is same for all the remaining useful life.
The estimated useful life in units is used in units of production method. Hence, it is ignored here.
Answer:
The correct answer is letter "A": innovative.
Explanation:
Innovative changes allow companies to use new strategies and technologies to improve the efficiency of their operations. Sometimes those changes are processes or technological devices created by the company itself while in other cases they are adopted from other entities with similar approaches and accomplish almost the same goal.
Answer: Option C
Explanation:
A. As per the general principles of accounting expenses are recorded on the debit side thus they are increases when debit transaction is made.
B. Transactions involving liabilities are recorded on credit side of the accounts.
C. Revenues are recorded on credit side of the transactions thus revenues increased when accounts are credited.
D. Transactions involving purchase of assets are recorded on debit side thus debit transactions increases debits.
Answer:
c. buying rupees from National Bank at the ask rate and selling them to American Bank at the bid rate.
Explanation:
- Locational arbitrage is a strategy in which one seeks profits from the difference in exchange rates for the same currency at different banks.
- In our case for locational arbitrage one will have to buy Indian rupee from National bank at the ask rate and then sell them to American bank at the bid rate to make profit.
