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solniwko [45]
2 years ago
13

A plant asset was purchased on January 1 for $40,000 with an estimated salvage value of $8,000 at the end of its useful life. Th

e current year's Depreciation Expense is $4,000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $20,000. The remaining useful life of the plant asset is
a. 10 years.
b. 8 years.
c. 5 years.
d. 3 years.
Business
1 answer:
Lady_Fox [76]2 years ago
3 0

Answer:

b. 8 years.

Explanation:

We solve this with the formula for straight line depreciation:

\frac{cost - salvage }{useful \:\: life}

We plug our values and solve

\frac{40,000 - 8,000 }{useful \:\: life} = 4,000

\frac{32,000}{4,000} = useful \:\: life

useful life:  8 years

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Vert Company purchased Dextrin common stock for $150,000. At December 31, Year 2, the Fair value adjustment account had a debit
VashaNatasha [74]

Answer:

B. Credit to the fair value adjustment for $6000

Explanation:

December 31 (year 2)

Fair value adjustment account balance = $10,000 (Debit)

December 31 (year 3)

Fair value adjustment account balance = $154,000 - $150,000 =$4,000 (Debit)

As you can see in year 2 there were only $10,000 (debit) in fair value adjustment account but in year 3 the value dropped down to 4,000 debit which leads us to the journal entry of $6,000 Credit in fair value adjustment account balance

7 0
2 years ago
A customer asks you a question, but you do not know the answer. You feel that they expect you to know the answer. What would you
ZanzabumX [31]

When you don't know a certain answer to a customer question be honest and tell them that you don't know the answer to this question however you will ask from your colleague about this question and will revert back to the customer.

<h3>What is a customer?</h3>

A customer is a person who is a buyer or a potential buyer of your products and or services.

The customer should be communicated of the estimated time that will be taken to revert back with the correct answer to the question. It is highly recommended that no guesses are made when you don't know a certain answer.

Learn more about Customer at brainly.com/question/27197965

#SPJ1

6 0
2 years ago
Which part of a food label is the primary tool for determining the healthfulness of the product?
Klio2033 [76]

Answer: (B) Nutrition fact panel

Explanation:

The nutrition fact panel is one of the primary tool which is used for determining the nutrition and also the healthfulness of the given material and the products.

The nutrition fact panel is the part of the food label and it providing the information about the content of nutrient in the food and the various types of beverages.

It basically provide the information about the sodium, fat content and the sugar.

Therefore, Option (B) is correct.

6 0
3 years ago
7. Another example of opportunity cost is a company's cost of capital. Suppose a manufacturer wants to add
vredina [299]

Answer:

You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.

Explanation:

alternative 1, build and sell microwave ovens:

initial outlay = $500,000

net cash flow per year = $225,000 - $200,000 = $25,000

alternative 2, invest in US securities:

investment = $500,000

net cash flow per year = $500,000 x 10% = $50,000

Opportunity costs are the benefits lost or extra costs resulting from choosing one activity or investment over another.

If you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000 = -$25,000.

Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000 = $25,000.

6 0
2 years ago
If you have two insurance policies on the same property, the ____ clause explains how the two insurance companies will share the
pantera1 [17]

Answer:

e. other insurance clause.

Explanation:

The other insurance clause is found in both property and liability insurance. This clause determines how loss is divided up when multiple policies cover the same loss.

5 0
3 years ago
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