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coldgirl [10]
3 years ago
15

Depreciation: Is the process of allocating to expense the cost of a plant asset. Measures the decline in market value of an asse

t. Measures physical deterioration of an asset. Is applied to land.
Business
1 answer:
Bess [88]3 years ago
7 0

Answer:

A. Is the process of allocating to expense the cost of a plant asset.

Explanation:

Depreciation can be defined as a process in which the monetary or financial value with respect to an asset decrease or falls over time as a result of wear and tear.

Depreciation is the process of allocating to expense the cost of a plant asset.

You might be interested in
What legal document transfers the title of real property from one party to another?
aleksley [76]

Answer:

D deed​

Explanation:

Real estate property ownership is recorded and tracked with documents known as the deed or the title deed. The records are in the custody of the County Recorder’s office.  Any transfer of property ownership must be accompanied by a change to the official documents to reflect the new owner. The change in name on the deed documents is what signifies the transfer of ownership.

5 0
3 years ago
General Widget partnership assets amount to $34,000 after liquidation. Frank, Gene, and Hank, equal partners, each contributed $
maks197457 [2]

Answer:

$7,000

Explanation:

Balance to be distributed = Assets amount after liquidation - Creditor - Gene loan to the business

Therefore,

Balance to be distributed = $34,000 - $23,000 - $5,000 = $6,000

Since there is no agreement among the partners regarding the distribution of profits, the amount to be distributed will be shared equally for each partners as follows:

Each partner's of the amount to be distributed = $6,000/3 = $2,000

Amount received by Gene = Loan amount from + Distributed balance share

                                             = $5,000 + $2,000

Amount received by Gene = $7,000

Therefore, Gene gets $7,000 in distribution.

8 0
3 years ago
Jayhawk had previously purchased merchandise for $40,000 The company returned $4,000 of the merchandise previously purchased bec
ki77a [65]

Answer:

the options are missing, but I wrote down the two possible answers

the journal entry to record the purchase assuming perpetual inventory method:

Dr Merchandise inventory 40,000

    Cr Accounts payable 40,000

the journal entry to record the damaged merchandise assuming perpetual inventory method:

Dr Accounts payable 4,000

    Cr Merchandise inventory 4,000

<h2>OR</h2>

the journal entry to record the purchase assuming periodic inventory method:

Dr Purchases 40,000

    Cr Accounts payable 40,000

the journal entry to record the damaged merchandise assuming periodic inventory method:

Dr Accounts payable 4,000

    Cr Purchases returns 4,000

8 0
3 years ago
Kirsten believes her company's overhead costs are driven (affected) by the number of direct labor hours because the production p
Vlad1618 [11]

Answer:

Predetermined manufacturing overhead rate= $10 per direct labor hour

Explanation:

Giving the following information:

Product A:

Direct labor hours= 1,600

Product B:

Direct labor hours= 400

Estimated overhead= $20,000

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 20,000/2,000

Predetermined manufacturing overhead rate= $10 per direct labor hour

5 0
3 years ago
1. When processing cash payments, the cashier accepts the check and cash payment from the
Tasya [4]

Answer:

That statement is true.

Explanation:

Most companies require this type of procedures to ensure that the employees wouldn't scam the customers during the transaction process.

Restating the total and the total changes allow the guests to conduct a self-calculation for the purchase, ensuring whether the price is suitable to the price tag that provided on the counter.  This prevent the employees from giving a higher price to the customers and taking the additional amount for themselves.

8 0
3 years ago
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