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Crank
3 years ago
5

The straight-line depreciation method and the double-declining-balance depreciation method: Multiple Choice Are acceptable for t

ax purposes only. Produce the same book value each year. Are the only acceptable methods of depreciation for financial reporting. Produce the same total depreciation over an asset's useful life. Produce the same depreciation expense each year.
Business
1 answer:
fiasKO [112]3 years ago
3 0

Answer:

The straight-line depreciation method and the double-declining-balance depreciation method:

Produce the same total depreciation over an asset's useful life.

Explanation:

The straight-line and the double-declining-balance depreciation methods are two of the four depreciation methods allowed by US generally accepted accounting principles (GAAP).  The other two methods are sum of the years' digit and units of production.  The straight-line method is calculated by subtracting the salvage value from the asset's cost and either dividing the depreciable amount by the number of years or applying a fixed rate on the depreciable amount.  For the double-declining-balance method, 100% is divided by the number of years of the asset's useful life and then multiplying by 2 to obtain the depreciation rate.  Depreciation expense is then calculated on the declining balance until the salvage value is left.  This is why they produce the same depreciation over the asset's useful life.

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The advertisement is AN OFFER.

 

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Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $640,000. th
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2 years ago
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning
wolverine [178]

Answer:

$6.7 per direct labor hour

Explanation:

Given:

Direct labor-hours = 20,000

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variable manufacturing overhead = $2.00 per direct labor-hour

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Actual total direct labor = 21,000 hours

Now,

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= 94000 + ( 2 × 20000 )

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And,

Predetremined Overhead Rate = \frac{\textup{Estimated Maufacturing Overhead}}{\textup{Estimated Direct Labor Hours.}}

or

Predetremined Overhead Rate = \frac{\textup{134,000}}{\textup{20000}}

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5 0
3 years ago
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income fo
Lady bird [3.3K]

Answer:

711,300

Explanation:

Net cash generated from operating activities can be calculated by deducting and adding back the cash and non-cash items respectively from the net income for the year. Such as depreciation will be added back in net income due to it is a non-cash expense

Net Income                                                                       624,000

Depreciation and amortization                                         87,000

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Increase prepaid expenses                                                (8,500)

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7 0
3 years ago
2. A female worked for a city government as a "HR Analyst—classification and compensation." She earned a salary equivalent to $3
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According to the Equal Pay Act, the situation presented is an example of wage discrimination based on gender.

The Equal Pay Act is a United States labor law passed in 1963. This law was created to abolish the gender pay gap.

According to this law, employers (public and private) are prohibited from paying differentiated salaries based on sex in jobs that require equal skills, effort and responsibilities, and that are performed under similar working conditions.

Based on the Equal Pay law, the situation of two employees of different sex who perform a job as HR Analyst - classification and compensation and receive different salary if it is discriminatory due to:

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According to the foregoing, it can be inferred that it is a differential treatment based on discrimination based on sex.

Learn more in: brainly.com/question/2396617

4 0
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