Whispering Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An emp
loyee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method. Year Straight-Line Sum-of-the- Years'-Digits Double-Declining- Balance 1 $10,980 $18,300 $24,400 2 10,980 14,640 14,640 3 10,980 10,980 8,784 4 10,980 7,320 5,270 5 10,980 3,660 1,806 Total $54,900 $54,900 $54,900
The basis of the straight line is a depreciation and amortization process estimate. That is the best way to calculate the loss of value of a capital asset over time also known as direct depreciation.
The straight line basis is determined by dividing by either the number of years it is planned to use the variations between the cost of such an asset and the estimated recovery value.
A sharp increase in taxes affects many middle-class families.
A sports-apparel company cuts jobs as a result of slow sales.
A fast-food chain goes out of business and shuts down all of its restaurants.
Explanation:
The circular income or circulated flow is a model for the economy where the big transactions between the market participants are represented as cash flows, goods and services, etc. The cash and goods flows transferred in a closed circuit complement the interest but are going in the reverse direction.
Retirements are factors in an economy that escapes from distributed labor flows and reduces national income sizes.
This is easily explained to be the stepping in to a tertiary stage. As it is explained that economic development analysis stages consists of different phases and levels. This services that is been denoted in this growth in the US plays a key role in financial services, humanity, health and other visible relevant parts which help in the building and aiding of economic growth of a country's economy.
Information technology and educational services in a product offering. These services are seen to boost different parts of an economy especially in developing countries is mostly concentrated in financial services, hospitality, retail, health and human services.
Product warranties, effects of environmental problems, and lawsuits are examples of transactions or events that give rise to Contingency.
<h3><u>What is Contingency?</u></h3>
A contingency is the potential possibility of a bad event, such as a pandemic, economic downturn, natural disaster, fraud, or terrorist attack. The coronavirus outbreak that struck businesses in 2020 made many employees reliant on remote work.
Companies had to adopt a remote work strategy as a result. Working remotely wasn't an option for some organizations, though, and as a result, increased security measures for both employees and clients were put in place to stop the virus from spreading.
Although contingencies can be planned for, it is often impossible to predict the kind and breadth of such unfavorable events in advance. Businesses and investors conduct analyses and put defensive measures into place to prepare for potential possibilities.
Know more about Contingency with the help of the given link:
what is the importance of trade international trade?
International trade is of great importance at international level as it binds or bonds countries together and enhance trade by barter as well as helps to generate more money. International trade also helps in improving economy as it increases internal generated revenue from imported goods and services
