Answer:
it's a u're welcome
Explanation:
u're welcome ♥️hope you enjoyed
To
determine what the depreciation of an asset using straight line method, the
formula to be used is:
(Initial
cost of machine – salvage value) divided by estimated useful life
So in
this problem:
Initial Cost
- $135000
Salvage
Value – $15000
Estimated
Useful Life – 5 years
Plug that
in the formula
Annual
depreciation = ($135000 - $15000) / 5
= $120000/
5
= $24,000
The first
year depreciation for the machine is $24000 because the company bought it in
the beginning of the year. (So there is no need to divide this by 12 months)
To record
this:
Depreciation
Expense $24000
<span> Accumulated Depreciation $24000</span>
Answer: When Wood Co. sells the land to a third party.
Explanation: As stated in the question, Wood Co. who purchased the land is a subsidiary of the seller, Power Corp., the parent company. In a consolidated financial statement whereby financial reports of all entities, subsidiaries and all financial attachment of a corporate establishment is accounted for.
Power Corp. owns the entirety of Woods Co. and therefore during a consolidated financial statement reporting, the profit made by Power Corp. from the sale of the land must be recorded when the land is purchased from Woods Co. by a third party.
Answer:
land
labour
capital
entrepreneur
Explanation:
land
examples include waterbodies and land forms like plateau and ridges
capital
include monetary wealth i.e money and machinery
entrepreneur
includes sole proprietorship and partnership
labour
include skilled and unskilled labour
Answer:When countries trade, their consumers have access to raw goods at cheaper prices, workers will produce better goods for export, and countries will become Richer..
