Homework Answers
Answer : An estimate of the asset's value at the end of its benefit period.
>> Salvage value is an residual value of an asset at end of useful period.
>> Salvage can be revised during the assets useful life, and re-calculate the depreciation
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Salvage value is: Multiple Choice 0 Not a factor relevant to determining depletion 0 A factor...
(2) Compute the company's cash flow on total assets ratio for Its fiscal year 2018. tes...
(2) Compute the company's cash flow on total assets ratio for Its fiscal year 2018. tes Cash Flow on Total Assets Ratio Saved Salvage value Is: Multiple Cholce 3.16 12 Not a factor relevant to determining depletion. A factor relevant to amortizing an Intangible asset wth an indetnite life An estimate of the asset's value at the end of its benetit period A factor relevant to determining depreciation under MACRS A factor relevant to determining depreciation that cannot be revised...
22) Plant assets are defined as: A) Held for sale. B) Tangible assets used in the...
22) Plant assets are defined as: A) Held for sale. B) Tangible assets used in the operation of business that have a useful life of less than one accounting period. C) Current assets. D) Tangible assets that have a useful life of more than one accounting period and are used in the operation of a business. E) Intangible assets used in the operations of a business that have a useful life of more than one accounting period. 23) Salvage value...
Which of the following answer choices is NOT a relevant factor in computing depreciation? Multiple Choice...
Which of the following answer choices is NOT a relevant factor in computing depreciation? Multiple Choice Useful life None of the other 4 answer choices is correct.eAll the other 4 answer choices are factors in computing depreciation Depreciation method Salvage value < Prev 120, 34Ⅲ Next> 4
Residual value is Multiple Choice The cost of an asset minus its accumulated depreciation An estimate...
Residual value is Multiple Choice The cost of an asset minus its accumulated depreciation An estimate of the asset's value at the end of its useful life All of these The same as an asset's service life O Another name for market value
*THIS IS ONE QUESTION ONLY* Basic depreciation concepts Cost or factor depletion is based on _____________ level, not time as used in depreciation. The remaining, undepreciated amount of an...
*THIS IS ONE QUESTION ONLY*
Basic depreciation concepts
Cost or factor depletion is based on _____________ level, not
time as used in depreciation.
The remaining, undepreciated amount of an investment is known as
its ____________.
Percentage depletion is determined as a stated percentage
times___________.
The depreciable life of an asset is also known as the
_____________.
MACRS depreciation rates always write-off the asset's value to
_____________.
In the straight line method of depreciation, the depreciation
charge in the final year...
Which of the following statements is false regarding the amortization of intangible assets? Multiple Choice Intangible...
Which of the following statements is false regarding the amortization of intangible assets? Multiple Choice Intangible assets with a limited useful life are amortized. The service life of an intangible asset is always equal to its legal life. The expected residual value of most intangible assets is zero. Goodwill is the most common intangible asset with an indefinite useful life.
Help Save & i Which of the following answer choices is NOT a relevant factor in...
Help Save & i Which of the following answer choices is NOT a relevant factor in computing de preciation? Multiple Choice Useful life. None of the other 4 answer choices is correct..e All the other 4 answer choices are factors depreciation) in computing Depreciation method Salvage value. < Prev12 of 34Next > 名
Intangible assets that have an indefinite useful life: Multiple Choice Are those with no foreseeable limit on the peri...
Intangible assets that have an indefinite useful life: Multiple Choice Are those with no foreseeable limit on the period of time over which the asset is expected to contribute to the cash flows of the entity. Are those with no legal, contractual, or economic factors that are expected to limit their useful life to a company. Are those whose acquisition costs are not amortized over their useful life. All of these answer choices are correct.
SportsWorld purchased a machine for $190,000. The machine has a useful life of 8 years and...
SportsWorld purchased a machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. SportsWorld estimates that the machine could produce 750,000 units of product over its useful life. In the first year, 95,000 units were produced. In the second year, production increased to 111,000 units. Using the units-of-production method, what is the amount of depreciation that should be recorded for the second year? Multiple Choice $49,440 $22,800 $26,640 $36,000 Factor(s) that might...
Marigold Corp. purchased a depreciable asset for $710000. The estimated salvage value is $40000, and the...
Marigold Corp. purchased a depreciable asset for $710000. The estimated salvage value is $40000, and the estimated useful life is 10 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? $142000 $106100 $67000 $113600 CUEIL ALCHEMO The term "depreciable base," or "depreciation base," as it is used in accounting, refers to O the cost of the asset less the related depreciation recorded to date. the total amount...
(2) Compute the company's cash flow on total assets ratio for Its fiscal year 2018. tes Cash Flow on Total Assets Ratio Saved Salvage value Is: Multiple Cholce 3.16 12 Not a factor relevant to determining depletion. A factor relevant to amortizing an Intangible asset wth an indetnite life An estimate of the asset's value at the end of its benetit period A factor relevant to determining depreciation under MACRS A factor relevant to determining depreciation that cannot be revised...
22) Plant assets are defined as: A) Held for sale. B) Tangible assets used in the operation of business that have a useful life of less than one accounting period. C) Current assets. D) Tangible assets that have a useful life of more than one accounting period and are used in the operation of a business. E) Intangible assets used in the operations of a business that have a useful life of more than one accounting period. 23) Salvage value...
Which of the following answer choices is NOT a relevant factor in computing depreciation? Multiple Choice Useful life None of the other 4 answer choices is correct.eAll the other 4 answer choices are factors in computing depreciation Depreciation method Salvage value < Prev 120, 34Ⅲ Next> 4
Residual value is Multiple Choice The cost of an asset minus its accumulated depreciation An estimate of the asset's value at the end of its useful life All of these The same as an asset's service life O Another name for market value
*THIS IS ONE QUESTION ONLY*
Basic depreciation concepts
Cost or factor depletion is based on _____________ level, not
time as used in depreciation.
The remaining, undepreciated amount of an investment is known as
its ____________.
Percentage depletion is determined as a stated percentage
times___________.
The depreciable life of an asset is also known as the
_____________.
MACRS depreciation rates always write-off the asset's value to
_____________.
In the straight line method of depreciation, the depreciation
charge in the final year...
Which of the following statements is false regarding the amortization of intangible assets? Multiple Choice Intangible assets with a limited useful life are amortized. The service life of an intangible asset is always equal to its legal life. The expected residual value of most intangible assets is zero. Goodwill is the most common intangible asset with an indefinite useful life.
Help Save & i Which of the following answer choices is NOT a relevant factor in computing de preciation? Multiple Choice Useful life. None of the other 4 answer choices is correct..e All the other 4 answer choices are factors depreciation) in computing Depreciation method Salvage value. < Prev12 of 34Next > 名
Marigold Corp. purchased a depreciable asset for $710000. The estimated salvage value is $40000, and the estimated useful life is 10 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? $142000 $106100 $67000 $113600 CUEIL ALCHEMO The term "depreciable base," or "depreciation base," as it is used in accounting, refers to O the cost of the asset less the related depreciation recorded to date. the total amount...
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