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3 years ago

Depreciation: Multiple Choice

Business

1 answer:

Whitepunk [10]3 years ago

8 0

Answer:

4. Estimates the decrease in the value of capital goods due to wear and tear over the year.

Explanation:

In accounting terms and in the business world, depreciation is defined as the systematic loss or reduction in value of a fixed asset or capital goods over time due to wear and tear. It is used in estimating the useful life or life expectancy of the asset. Examples of those fixed assets include, buildings, furniture, tractors, etc.

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Anish, a single indian biology professor, went to the local national bank to apply for a home loan. the banker told anish that s

Papessa [141]

<span>The fact that the single Indian biology professor Anish was not given home loan from the local national bank because </span>minority group members are risky because they are not likely to hold a steady job is an example of institutional discrimination.
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3 years ago

Milano Gallery purchases the copyright on a painting for $420,000 on January 1. The copyright is good for 10 more years. The com

alex41 [277]

Answer:

Explanation:

The journal entries are shown below:

On January 1

To Cash A/c $420,000

(Being copyright is purchased)

On December 31

Amortization A/c Dr $42,000

To Accumulated amortization A/c $42,000

(Being annual amortization is recorded)

The computation is shown below:

= Purchase value of copyright ÷ number of goods years

= $420,000 ÷ 10 years

= $42,000

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3 years ago

Which of the following businesses describes a branch?

Sergio [31]

I believe that it’s C
ANSWER =C

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3 years ago

The diagram shows an aspect of fiscal policy.

storchak [24]

Answer

C. The government spending to strengthen the economy

Explanation

The fiscal policy is applied by the government to influence the economy through adjusting revenue and spending levels. The Fiscal policy is applied with the monetary policy to give a direction of the economy and reach the set economic goals. In this case, taxation and money transfers has been applied.

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3 years ago

Read 2 more answers

Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beg

nordsb [41]

Answer:

The correct answer is $12,400.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the pension expense by using following formula:

Pension expense = Interest cost + Service cost - Expected return on plan assets.

Where, Interest cost = $6,400

service cost = $17,000

Expected return on plan assets = $11,000

So, by putting the value, we get

Pension expense = $6,400 + $17,000 - $11,000 = $12,400

Hence, Journal entry for the following are as follows:

Pension Expense A/c Dr. $12,400

To Cash $12,400

8 0

3 years ago