Answer:
Explanation:
1) False. As depreciation is a process of cost allocation, not asset valuation.
2) True.
3) False. As the book value is different from market value and it can be more or less.
4) False. As depreciation applies only to building and equipment.
5) False. The correct statement ought to be depreciation does not apply to land because its usefulness and revenue-producing ability generally remain intact over time.
6) True.
7) False. Recognizing depreciation on assets results in an accumulation of cost for replacement of the asset.
8) True.
9) False. Accumulated depreciation is recorded in a balance sheet while depreciation expense is reported in the income statement.
10) False. As salvage value is the same as residual value, hence, it three factors affect the computation of depreciation.
Answer:
B) 574,000
Explanation:
Equipment book of Paar value on december 31/14 of $294,000.-
Add Kimmels equipment book value on december 31/14 of $190,00
Add original acquisition-date allocation to Kimmel´s equipment of ($400,000 - $272,000) = $128,000
Less Amortization of alloction ($128,000 / 10 years for 3 years) = (38,400)
Eqcuals consolidated equipment of $574,000
In order to determine the effect of the tax on the demand and supply graph, please check the attached image.
A tax is a form of transfer to wealth from businesses to the government. Taxes increase the price of goods and services. As a result of the tax levied on the producers of automobile tires, the cost of making tires would increase. This would make producing tires more expensive.
As a result of the increase in the cost of making tires, the production of tires would fall. As a result, there would be a leftward shift of the supply curve. This would lead to a rise in equilibrium price and a decrease in equilibrium quantity.
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Answer:
d. then both GDP and consumption spending will be higher
Explanation:
In case when the consumer purchased a burger and the fries to the favorite of his fast-food restaurant than it leads to an increase in the spending of the consumer and the Gross domestic product
As if the consumer spends his money so automatically his consumer spending risen also leads to the increase in gross domestic product.
Therefore the last option is correct
