It's true that when it comes to managing a corporation, the corporation relies on its board of directors and officers.
<h3>What defines corporation ?</h3>
An organization called a corporation is one whose shareholders choose a board of directors to manage its operations. The corporation, not the shareholders, is responsible for the operations and financial health of the company.
<h3>What is a corporation in business?</h3>
A corporation, also referred to as a C corp, is a separate legal entity from its owners. Corporations are able to generate revenue, pay taxes, and face legal consequences. The strongest protection against personal liability is provided to owners by corporations, although forming a corporation is more expensive than creating other types of entities.
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Answer:
$7,326
Explanation:
Double Decline Balance = 2 x SLDP x SLDBV
where,
SLDP = Straight Line Depreciation Percentage
= 100 ÷ useful life
= 100 ÷ 20
= 5 %
and
SLDBV = Straight Line Percentage Book Value
Year 1
Double Decline Balance = 2 x 5% x $81,400
= $8,140
Year 2
Double Decline Balance = 2 x 5% x ($81,400 - $8,140)
= $7,326
Therefore
The machine's second-year depreciation using the double-declining balance method is $7,326.
Organization Expenses Dr 7,500
Cash 7,500
June 14 Cash Dr 120,000
Common Stock 110,000
Paid-In Capital in Excess of par value—Common 10,000
June 22 Cash Dr 120,000
Preferred Stock 90,000
Paid-In Capital in Excess of par value—Preferred 30,000
A data analyst of a construction company chooses to analyze the historical data as the construction project is for a very short time period.
<h3>
What is a construction company?</h3>
A construction company is an entity that takes on construction projects of making buildings, towers, bridges, flyovers, etc.
When the construction project is for a short duration, then the data analyst decides to analyze the historical data, that is, the data that is based on past figures and has not been affected by any market fluctuations. It helps the data analyst to make a report in a quick manner without any kind of further delay.
Therefore, the historical data can be studied by a data analyst where the construction project is completed in a short span of time.
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