1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
snow_tiger [21]
3 years ago
9

What role does ethics play in choosing and applying a depreciation method?what role does ethics play in choosing and applying a

depreciation method? ​
Business
1 answer:
Minchanka [31]3 years ago
8 0

Answer:

Explanation:

Ethics demands reasons to be given for changing from one depreciation method to another. There are three depreciation methods that are applicable including double-declining balance technique, unit of production technique, and straight-line technique.  

Changing from one depreciation method to another must be done in the best interests of shareholders and reasons for such a change must be disclosed. Therefore, ethics requires a company to reveal the changes in depreciation method and adhere to the accounting principles related to the method used.  

You might be interested in
Process tailoring is best undertaken on agile projects when
Mkey [24]
It's best to use process tailoring when they are facing difficulties with the current agile projects strategy or they want to create improvement by trying new things.
Through process tailoring, management could adjust current strategy with unique problems/situation that faced by the organization in order to increase the efficiency.
5 0
3 years ago
Read 2 more answers
What factor supports maintaining a dual income?
mart [117]
You should open a joint bank account. Joint allows deposit or withdraw cash from your dual income. Can share with your family members. Income is safe with you having a joint account because you can monitor transaction.
3 0
3 years ago
Read 2 more answers
Nighthawk Inc. is considering disposing of an old machine with a book value of $22,500 and an estimated remaining life of three
Juli2301 [7.4K]

Answer:

b. $8,750 increase

Explanation:

Please see attachment

3 0
3 years ago
Read 2 more answers
At May 1, 2020, Sheridan Company had beginning inventory consisting of 190 units with a unit cost of $7.30. During May, the comp
s2008m [1.1K]

Answer:

$6.71 per unit

Explanation:

The computation of average cost method is given below:-

Beginning Inventory

= 190 units × $7.30

= $1,387

Purchases

= 720 units × $7.30

= $5,256

Purchases

= 590 units × $5.80

= 3,422

Total units = 1,500

Total cost = $10,065

So, average cost per unit

Total cost ÷ Total number of units

= $10,065 ÷ 1,500

= $6.71 per unit

Therefore, to calculate the average cost per unit for May we simply divide 10,065 from 1,500

7 0
3 years ago
On May 1, 2015, Herron Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2015, and pay interest
vivado [14]

Herron Corp

A. Journal entry

Dr Cash 600,000

Cr Bonds Payable 600,000

B. Adjusting entries as at Dec 31, 2015

Dr Interest Expense 9,000

Cr Interest Payable ($600,000 x 9% x 2/12) 9,000

C. Balance sheet as at December 31, 2015

Current liabilities

Interest Payable 9,000

Long term Liabilities

Bonds Payable 600,000

D. Journal entry as at May 1, 2016

Dr Interest Expense ($600,000 x 9% x 4/12) 18,000

Dr Interest Payable 9,000

Cr Cash 27,000

(e) Journal entry Nov 1, 2016

Dr Interest Expense 27,000

Cr Cash ($600,000 x 9% x 1/12) 27,000

F. Bonds at 102 on Nov 1,2016

Dr Bonds Payable 600,000

Dr Loss on Bond Redemption 12,000

Cr Cash ($600,000 x 1.02) 612,000

4 0
3 years ago
Other questions:
  • The BASF Chemical Company in Germany has developed a new rubberized coating. The product has an application for cell phones and
    5·1 answer
  • Determine whether each characteristic describes a general partnership (GP), limited liability company (LLC), both, or neither.A.
    9·1 answer
  • App Holdings is expected to pay dividends of $1.50 every six months for the next three years. If the current price of App Holdin
    8·1 answer
  • Consider the following information attributed to the material management departmentBudgeted usage of materials-handling labor-ho
    10·1 answer
  • In an open economy, why is the demand curve for dollars in the foreign-currency exchange market downward sloping? A. A depreciat
    8·1 answer
  • Your bank is offering you an account that will pay 20 % interest in total for a​ two-year deposit. Determine the equivalent disc
    14·1 answer
  • New Savings Bank pays 4% interest on its deposits. If you deposit $1,000 in the bank and leave it there, will it take more or le
    11·1 answer
  • To keep your business plan up-to-date, it should be revised every
    11·1 answer
  • What is one way that critical thinking can help in career exploration?
    6·2 answers
  • at the end of the first year of operations, gaur manufacturing had gross accounts receivable of $251,000. gaur's management esti
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!