Answer:
The balance in the accumulated depreciation account at the end of the second year is $146,000.
Explanation:
Straight line method charges a <u>fixed depreciation charge</u> on the asset during its period of use.
Depreciation Expense (Straight line) = Cost - Residual Amount ÷ Estimated Useful life
= $778,000 - $48,000 ÷ 10
= $73,000
Therefore, for each year, a depreciation expense of $73,000 is charged to profit an loss.
Accumulated Depreciation Calculation :
Depreciation Expense : Year 1 $73,000
Depreciation Expense : Year 2 $73,000
Total Expense $146,000
Simple answer....too break it down if there was no consumers there would be Stores open.
Definition of consumer is a person who purchases goods and services for personal use.
Answer:
A.
Explanation:
Organizational expense amortized over fifteen years for purposes of determining taxable income results in an upper adjustment in the initial years to book income on the Schedule Minus−1 when the expense is being amortized over ten years for book income purposes.
Answer:
Depreciation expense 2019= $17,062.5
Explanation:
Giving the following information:
Purchase price= 102,000
Useful life= 8
Salvage value= 11,000
To calculate the depreciation expense under the double-declining balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
2018= 2*[(102,000 - 11,000)/8]= $22,750
2019= 2*[(91,000 - 22,750)/8]= $17,062.5
Answer:
<em> Ethnocentrism causes us to judge others by our own values. </em>
<em> Ethnocentrism causes us to judge others by our own values. Ethnocentrism is the belief in the superiority of one's own culture. This belief is a natural attitude found in all cultures, and it causes us to judge others by our values</em>.
