Answer: $1392
Explanation:
The depreciation rate under straight line is =1/5=0.2
The depreciation rate under double declining is = 0.2 × 2 = 0.4
Depreciation expense for the first year = 0.4 × $5800 = $2320.
At the beginning of year two, net book value = $5800 - $2320 = $3480
Depreciation expense for year two = 0.4 × $3480 = $1392
Answer:
agricultural and industrial
Answer:
$85,000
Explanation:
In the balance sheet, a company records the value of assets at their historical cost. Assets are recorded in the balance sheet at the price that they were acquired. Even if a company has strong reasons to believe that the value of an asset has increased, It cannot adjust its value in the books.
Harper will record the value of the land at $85,000. $93,000 represents the fair value of the property. Harper cannot record the fair value in the balance sheet. The fair value is only used when disposing of the property. The only way of verifying the fair value is by selling the property.
Answer:
Explanation: A Multinational Organisation is an organisation that has an office in its country of origin as well as in at least one branch in another country. They control all the activities in the country of origin as well as in the other offices in other countries.