Explain the types of depreciating tangible assets.
Explain the types of depreciating tangible assets.
Homework Answers
Depreciating Tangible assets:
Depreciating Tangible assets are physical assets that add value to business and depreciation is systematic allocation of assets cost over the course of its useful life. An assets useful life is the period during which it add value to business.
Following are the types of depreciating tangible assets:
Building,
Plant and equipment’s
Motor vehicles
Furniture and fixture
Computers
Q1. Explain the types of depreciating tangible assets. Q2. Explain provisions and its common types. Q3....
Q1. Explain the types of depreciating tangible assets. Q2. Explain provisions and its common types. Q3. What are the items considered in Capitalization of interests? Describe each item
In investing activities, firm prefer to acquired tangible and intangible assets and invest in long lived...
In investing activities, firm prefer to acquired tangible and intangible assets and invest in long lived term. Please explain what are the tangible and intangible assets and reasons for investing in long term assets.
Tangible assets that are attached to natural resources are depreciated over... A) The shorter of the tangible asset's li...
Tangible assets that are attached to natural resources are depreciated over... A) The shorter of the tangible asset's life or the natural resource's life B) The life of the tangible asset C) The life of the natural resource D) The longer of the tangible asset's life or the natural resource's life
Whir are the characteristics of tangible and Intangible assets?
Whir are the characteristics of tangible and Intangible assets?
Copyrights are considered: Select one: a. Tangible assets b. Goodwill c. Intangible assets d. Current assets
Copyrights are considered: Select one: a. Tangible assets b. Goodwill c. Intangible assets d. Current assets
Organizations will often hire a specialist to determine the value of the tangible and intangible assets...
Organizations will often hire a specialist to determine the value of the tangible and intangible assets obtained in an acquisition. Does the auditor always need to engage his or her own specialist to test the work of the specialist hired by the organization? Explain, incorporating the idea of the importance of auditor professional skepticism into your response.
Describe two (2) types of tangible resources/capabilities and two (2) types of intangible resources/capabilities. Assume you...
Describe two (2) types of tangible resources/capabilities and two (2) types of intangible resources/capabilities. Assume you work for Phillips (a Dutch consumer electronics company – flat screen TVs, personal computers, MP3 players, audio equipment, DVDs, digital cameras, GPS systems, etc.). Pick the two (2) resources/capabilities you think would be most important to be successful in the consumer electronics business over the next five years. Fully explain your answer.
Natural resources are: Multiple Choice Tangible assets used in the operations of the business. Consumable assets...
Natural resources are: Multiple Choice Tangible assets used in the operations of the business. Consumable assets such standing timber, mineral deposits, and oil and gas fields. Not subject to allocation to expense over their useful lives. Current assets because they are depleted. Depleted using a straight-line method.
"Push-down Accounting and the Recording of Both Tangible Assets and Intangible Assets" Please respond to the...
"Push-down Accounting and the Recording of Both Tangible Assets and Intangible Assets" Please respond to the following: Per the textbook, the FASB has not taken a position on the use of push-down accounting. Take a position on whether push-down accounting provides the most relevant information for both internal and external financial statement users. Provide support for your rationale. Compare the key differences between U.S. GAAP and IFRS’s position on both intangible research and development costs and tangible depreciable assets. Indicate...
(At December 31) 2019 2018 2017 Current assets Tangible fixed assets Intangible assets. Total assets.... $285,000...
(At December 31) 2019 2018 2017 Current assets Tangible fixed assets Intangible assets. Total assets.... $285,000 662,500 40,000 $987,500 $277,500 575,000 45,000 $897,500 $207,000 563,000 50,000 $820,000 Current liabilities.. Noncurrent liabilities. Common stock. Additional paid-in capital. Retained earnings Stockholders' equity Total liabilities and equity $120,000 266,250 100,000 100,000 400,000 600,000 $986,250 $110,000 242,500 100,000 100,000 345,000 545,000 $897,500 $100,000 220,000 100,000 100,000 300,000 500,000 $820,000 2019 2018 2017 (For the years ended December 31) Revenues Expenses .. Net income $970,000...
(At December 31) 2019 2018 2017 Current assets Tangible fixed assets Intangible assets. Total assets.... $285,000 662,500 40,000 $987,500 $277,500 575,000 45,000 $897,500 $207,000 563,000 50,000 $820,000 Current liabilities.. Noncurrent liabilities. Common stock. Additional paid-in capital. Retained earnings Stockholders' equity Total liabilities and equity $120,000 266,250 100,000 100,000 400,000 600,000 $986,250 $110,000 242,500 100,000 100,000 345,000 545,000 $897,500 $100,000 220,000 100,000 100,000 300,000 500,000 $820,000 2019 2018 2017 (For the years ended December 31) Revenues Expenses .. Net income $970,000...
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