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MrMuchimi
2 years ago
8

Jasmine Company purchased a depreciable asset for $225,000. The estimated salvage value is $15,000, and the estimated useful lif

e is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset
Business
1 answer:
ICE Princess25 [194]2 years ago
8 0

Answer:

$225,000 × [(1 ÷ 8) × 2] = $56,250 ($225,000 - $56,250) × [(1 ÷ 8) × 2] = $42,188 is the correct answer.

Explanation:

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How do most companies pay the current liabilities incurred by day-to-day operations?.
elixir [45]

Current assets, or possessions used up within a year, are generally used to settle current liabilities.

<h3>Why do you use the term "current liabilities"?</h3>
  • Current liabilities are debts or commitments that fall due within a year or during the regular business cycle. Additionally, current obligations are paid off by using a current asset, either by generating a fresh current liability or by using cash.
  • In accounting, current liabilities are frequently interpreted as all debts owed by a company that must be paid in cash within the fiscal year or the operational cycle of that particular company, whichever is longer.
  • Current assets, or possessions used up within a year, are generally used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current liabilities, along with any outstanding income taxes.  

To learn more about Current assets refer to:

brainly.com/question/13188114

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6 0
1 year ago
Fill in the blanks to complete the passage regarding the development of illegal markets in response to price ceilings. – are ill
djverab [1.8K]

Black markets are illegal markets that emerge in response to price controls. A few buyers are able to obtain the good at the open-market price; the rest must resort to illegal means. The additional demand is met by underground suppliers selling at much higher prices.

The government does not support the black market or any of their actions with getting items and selling them in other forms. Those who are in demand of a good when they have a hard time in getting it may purchase it illegally at a higher price just so they can receive that good. When there is an exchange of goods in the black market, these items are usually prohibited by the government and therefor illegally being sold.

3 0
3 years ago
Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Average accounts receivable = $20,000 What is t
Romashka [77]

Answer:

73 days

Explanation:

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receivables turnover = revenue / average receivables = $100,000 / $20,000 = 5

average collection period = 365 / 5 = 73 days

I hope my answer helps you

5 0
3 years ago
"Scarcity, opportunity cost, and marginal analysis Neha is training for a triathlon, a timed race that combines swimming, biking
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Answer: Option (3) is correct.

Explanation:

Correct option: All choices have opportunity costs.

Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.

If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.

In our case, Neha is training for a triathlon, there are three activities involved in a triathlon and training hours are limited. If Neha wants to spend a hour on swimming then she have to sacrifice training for biking and running for during that time.

Therefore, every choice has an opportunity cost associated with it.

6 0
2 years ago
What factors do u look at when which loan is best for you
sergiy2304 [10]
When I don't have money and I know that I can pay in future, if I am not sure that I can pay in future it's not worth full to take loan
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